Author Archives: Paul Sloane

What's the Difference between Creativity and Innovation?

I still hear people mixing up creativity and innovation so let’s clear it up once and for all: Creativity is thinking of something new. Innovation is implementing something new. It is quite simple. If you generate 500 great ideas in a brainstorm then you have shown super creativity. But there is no innovation until you actually implement something. To put it another and more flippant way – creativity is free but innovation costs money.

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Which are the Best Countries for Innovation?

Here is a report drawn up by the IMF, OECD and the UN to rank international innovation competitiveness. The authors constructed an Innovation Capacity Index (ICI) that draws on a range of available data to correlate the wide-ranging set of relevant factors, policies, and institutional characteristics which play a central role in boosting a nation’s capacity for innovation.

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Would You Roll The Dice?

Let’s play a game. It costs you $1 to play. We then roll a dice once. If it comes up 6, I pay you $10 otherwise you lose. Do you want to play? Most likely you will agree to play. You have a one in six chance of winning $10 for a $1 bet. Now let’s make it $1 million to play.

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The Power of Additive Ideation

It is common to approach suggestions schemes, brainstorms and ideation meetings from a competitive point of view. So we might say that we want a large number of ideas and then by a darwinian process we will eliminate the weaker suggestions and choose the best.

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Innovation Lessons from The Artist

Perfect Harmony: MBA and MFA Mindsets

Have you seen The Artist? The film recently won the best film award at the Oscars. It is a charming tale about the transition from silent movies to talkies. It is remarkable for a number of reasons – not least because it is a silent movie in black and white with unknowns as stars.

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Enter the Car Parts Incubator

Across the world millions of babies die within the first week of birth. Most could be saved with the use of incubators, which are widely available in the developed world but not in under-developed countries. Much of the medical equipment that is donated to hospitals in these countries falls into disuse because of the lack of spare parts or shortage of trained technicians. There is also a common problem with interrupted power supply.

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Who Killed Our Business?

We can broadly simplify innovations into two kinds - incremental and radical. Incremental innovations are improvements to current products, methods, processes, services, partnerships and so on. Customer complaints and suggestions are a good source of ideas for incremental improvements. So are the people who work in the organization. If you ask customers how your product could be better or if you ask employees how their job could made easier they will come up with plenty of proposals.

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Issue a Declaration of Innovation

Many CEOs and leaders talk about the importance of innovation in their organizations. But often their words are bland and vague – just a form of management-speak. If you want people to really believe then why not explain exactly what you mean with a Declaration of Innovation.

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