360° Coverage : Six Ways to Make Innovation A Reality

2 Updates
Six Ways to Make Innovation A Reality

Six Ways to Make Innovation A Reality

Jan 10 2014, 4:12pm CST | by

There is a fundamentally new class of individuals entering and circulating in the job market. They tend to be adaptable and mobile, East-Coast-educated but West Coast-bound, willing to take risks,...

Filed under: news

 
 
 

33 weeks ago

Six Ways to Make Innovation A Reality

Jan 10 2014, 4:12pm CST | by

There is a fundamentally new class of individuals entering and circulating in the job market. They tend to be adaptable and mobile, East-Coast-educated but West Coast-bound, willing to take risks, technically sophisticated, and social adept. They also are more interested in learning than in their salary. Most importantly, however, they don’t want to work in the traditional workplace environment.

In the Deloitte’s Work Environment Redesign report, John Hagel and John Seely Brown show that there has been a massive innovation shift in the world—a shift built on some of the structures led by these individuals. In the 20th century, we viewed institutions as the force that shaped individuals—that created people who were comfortable working in factories and standardized bureaucracies. In the 21st century, on the other hand, individuals are reshaping institutions, using their agile minds and bringing their powerful networks of resources with them.

Here are six ways to make innovation a reality in our increasingly interconnected world.

1) Become a platform for connections and networks. Leaders of your company must recognize the importance of connections inside and outside of the company in driving greater performance and in supporting trust, collaboration, and exchange of creative ideas between employees. To be innovative, your company must be at the crossroads of a wide range of diverse networks.

2) Invest in potential, not just expertise of individuals. An individual with expertise is one who has done work before of great value and who is likely to do great work again, while an individual with potential is given opportunities to take on roles she hasn’t done before because she has demonstrated the skills that make it likely for her to succeed. To make the most use of the individuals dominating the current job market and unlock their full capabilities as innovators, you must place value on both potential and expertise in your employees.

3) Make “exception handling” a priority in recruiting. When we hire, we often choose those with process skills, but what companies really need are adept employees who are prepared to handle risks and change. In the end, it will be the “exceptions”—the risk takers and the unconventional thinkers—who will step up as leaders and push forward innovation in your company.

4) Shift your notion of intellectual property. Intellectual property is any work or invention to which one has exclusive rights. While there is intellectual property where exclusive rights really matter, much of it is obsolete. Instead, companies can benefit from being more selective in which of their ideas they choose to protect as intellectual property. Innovation is often the result of the exchange of ideas, and intellectual property rights can sometimes hinder such an exchange—in turn preventing important discussion, collaboration, and further creativity. To enhance the innovative drive of your employees, you may want to reassess the value placed on intellectual property within your company.

5) Start with the experimental side of your business. Risk-taking is key to innovation. However, when taking new risks, make sure not to play with the core of your business. Instead, begin at the edge of your business as you allow more experimentation within your company.  Only once you have noticed productive results can you more fully incorporate experimentation in your company culture.

6) Turn your Employee Resource Groups into Business Innovation Groups. Your employee resource groups may have unique insight to offer on new products and services that could better serve previously untapped markets and communities.  Allow them to share this insight with your company as business innovation groups instead. The more voices heard in company discussion, the more likely innovation is to follow.

The job market is changing, your employees are changing, and ultimately the workplace is changing.  In the wave of change, there is increasing room for new talent and creativity—and now is your chance to make innovation a reality.

Erica Dhawan is the Founder & CEO of Cotential, a global innovation firm that helps organizations unleash the connected potential of people everywhere to solve their most pressing challenges. Follow @cotential and @edhawan for more innovation updates.

Source: Forbes Business

 
Update
2

4 days ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

5 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

US CDC calls for global response against Ebola
Washington, Sep 3 (IANS/EFE) The head of US Centers for Disease Control and Prevention (CDC) Tuesday warned of the risk that the Ebola outbreak could get out of control without a greater worldwide response.
 
 
US doctor tests positive for Ebola in Liberia
Washington, Sep 3 (IANS) An American missionary doctor working in Liberia has tested positive for the Ebola virus, his organisation SIM USA announced Tuesday.
 
 
IS video shows beheading of second US journalist
Washington, Sep 2 (IANS) Days after the beheading of American photojournalist James Foley, Sunni militant group Islamic State (IS) has posted a video showing the beheading of another kidnapped American journalist Steven Sotloff, CNN reported.
 
 
IS beheads second US journalist
Washington, Sep 2 (IANS) The Islamic State militant organisation has posted a video titled "A second message to America", showing the beheading of American journalist Steven Sotloff, CNN reported.
 
 
 

Latest from the Network

US warplanes drop leaflets on Iraqi city
Baghdad, Sep 3 (IANS/EFE) US warplanes Tuesday dropped thousands of leaflets on the northern Iraqi city of Mosul, urging residents to keep clear of places occupied by the Islamic State (IS) extremist group that overran...
Read more on Politics Balla
 
US CDC calls for global response against Ebola
Washington, Sep 3 (IANS/EFE) The head of US Centers for Disease Control and Prevention (CDC) Tuesday warned of the risk that the Ebola outbreak could get out of control without a greater worldwide response. "This is...
Read more on Business Balla
 
Don't have a perfect body: Charlize Theron
Los Angeles, Sep 3 (IANS) Actress Charlize Theron says she doesn't have an ideal figure, but is happy with the way her body looks. The actress features on the cover of Modern Luxury's September 2014 issue and looks...
Read more on Celebrity Balla
 
Kate Hudson is 'basically married'
Kate Hudson says she and Matthew Bellamy are ''basically married.'' The 35-year-old actress, who has son Bingham, three, with the Muse frontman, 36, admits they're in no rush to plan to a wedding and she rarely wears...
Read more on Celebrity Balla
 
Cee Lo Green's reality show is axed
Cee Lo Green's reality TV series has been axed. TBS announced on Tuesday (09.02.14) that the 'Forget You' hitmaker's show, 'The Good Life,' which focused on his attempts to juggle his careers as a producer, recording...
Read more on Celebrity Balla
 
Chris Martin spends weekend with Gwyneth Paltrow
Chris Martin and Gwyneth Paltrow spent the weekend together in the Hamptons. The former couple, who announced they were ''consciously uncoupling'' in late March after 10 years of marriage, reunited at their home in the...
Read more on Celebrity Balla
 
Mali mine blast kills four UN peacekeepers
Bamako, Sep 3 (IANS) Four United Nations peacekeepers were killed and 15 others injured after their vehicle hit a landmine in Mali Tuesday, security sources said. The UN vehicle was hit by a landmine when the...
Read more on Politics Balla
 
Kate, Cara new faces of Burberry's latest fragrance
London, Sep 3 (IANS) Supermodels Kate Moss and Cara Delevingne have been roped in as the new faces of Burberry's latest fragrance. The models are pictured in the campaign for the label's latest scent My Burberry, shot...
Read more on Celebrity Balla
 
Former Israeli PM on trial again for corruption
Jerusalem, Sep 3 (IANS) Israel's former Prime Minister Ehud Olmert appeared before a Jerusalem court Tuesday after the state prosecution reopened a corruption case against him. Olmert was acquitted in what came to be...
Read more on Politics Balla
 
11 killed in Argentina van accident
Buenos Aires, Sep 3 (IANS/EFE) At least 11 people were killed Tuesday when a van carrying teachers collided with a truck in Argentina, police said. The accident occurred about 7.45 a.m. near El Simbol, 1,000 km north...
Read more on Politics Balla