Topics: 2012 GLC
Innovation isn't just hoping for serendipity and counting on random inspirations--innovation can be managed as a process. And innovation can be measured in tournament style:
According to Prof. Terwiesch, although randomness and serendipity clearly underlie the fate of any particular opportunity, the deliberate management of a system for generating, screening, and scoring ideas, can introduce the same professional rigor to innovation as to financial budgeting or supply chain management. Organizations use innovation tournaments to narrow a pool of many opportunities down to the exceptional few that can become profitable innovations.
The design and production of new products and services is an endeavor that calls for the skills and experience of interdisciplinary teams to get the job done. Yet, as a half-century of research makes abundantly clear, teamwork and cross-unit collaboration is difficult. The competing viewpoints that promote creative ideas and sound decision-making can also lead to conflicts that waste precious time and erode relationships. Organizational Learning and Development professionals have already been tackling many of these issues through curricula and interventions, to help improve business agility.
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“We were able to realize almost immediate value—in terms of definitively quantifiable savings—by implementing the concepts introduced during this [Art of Negotiation] program.”Ken MurphyEVP of Sales and Operations, Mattress Firm
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