Developing an Innovative Company

Today’s post goes and explain the article discusses in HBR on Innovation, my main subject and research for this blog stub.

Every Thursday I will try to put a blog article discussing an article or providing some hints on how to develop a company which is innovative and forward thinking.

This maybe a naive point of view as, at the current time my objective is to gain experience and hindsight, but not all knowledge that I write about, has to come directly from me, and I believe, that Harvard Business Review, with his insights provide some kudos on my side.

As I was saying, today post goes and discuss HBR article, Building an Innovation Factory.

All this articles are from the 2000, but still relevant today, as they discuss Engineering and Design, as well as Business.

The main idea of the article, is that there are four components which help in developing an innovative company:

These components are embedded in the company culture, and companies as such as IDEO, take advantage of this components in developing their corporate culture.

Now, you will be saying, what it has to do with a small business….

I would reply to you, that no matter the size, is important in being innovative, as ideas are the currency of Business.

 

This components, in the text, are referred as the Knowledge-Brokering Cycle:

And they are discussed as, the main building block to keep and retain ideas.

  1. Keep the good ideas:

Ideas, as discussed in precedence, can come from within a firm, or engineered outside a firm, and as such, is important to keep them, as often they are forgotten, and more specifically, in corporate culture, they are often forgotten also because these ideas are tied to the owner of the idea.

2. Ideas have to survive:

In order to flourish, ideas have to be kept alive, to remain alive, this ideas have to be past around, and discussed and toyed with. Effective brokers spread the information.

3. Reinventing the wheel:

This is where the concept gets interesting, innovation arrive when old ideas are captured and remembered in new contexts. For example, using the idea box, one can plot the innovation that the Nintendo Wii brought, and design new ideas for new consoles.

4. Testing concepts:

Testing allow to check if an innovation is viable commercially or is a flop. Brokers in this context can learn valuable lessons even if the idea is not working.

Knowledge brokering cycle

 

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