Finance

When Innovation Goes Wrong

Ever since innovation became the buzzword du Jour, a lot of people seem to have lost their ability to tell smart ideas from stupid ones. Case in point: the financial "innovations" (read: stunningly stupid loan products) that kicked off the trillion-dollar economic meltdown mess we're currently in. The simplistic notion that "new equals good" has often been a recipe for grand-scale disaster, just as it was in the dotcom debacle at the turn of the millennium.

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Unacceptable Face of Innovation

Innovation in medicine, material science and many other areas has made life better for many people. But there is another side to innovation that is rarely discussed. Many innovations are designed to be labor saving. With the world population increasing labor saving innovation can only eventually lead to economic collapse and social unrest.

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Sustaining the Case for Innovation

A few weeks ago I attended a meeting of Innovation Directors from many different industries, where we shared our experience of making the case for innovation and sustaining the investment with or without having to re-make the case every year. From those discussions, I took away a very simple model – a virtuous circle indeed – to sustain the case for investment in innovation.

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Where's Your Innovation Friction?

How should firms develop the organizational structure, culture, and incentives (e.g., for teams) to encourage successful innovation? When it comes to creating an innovation culture, often people make it far too complicated. If you're part of the senior leadership team and you're serious about innovation then your job is simple - reduce friction. If you're serious about innovation and you're not a senior leader, then your job is to do what you can to convince senior leadership that innovation is important. Then, gently help your execs see the areas of greatest friction in your organization so they can do something about it.

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Innovation Insights WEF Latin America 2012

The seventh World Economic Forum on Latin America took place in Puerto Vallarta, Mexico, on 16-18 April 2012. The meeting, held under the theme “Regional Transformation in a New Global Context”, convened a record number of participants for this regional gathering, with close to 900 top regional and global leaders from 70 nations.

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