Product Innovation

How to Start Innovation with an Idea

The Innovation Maze

The Idea Route Google, currently a company with a market capitalization of $ 500 billion, started as just an idea. In 1995, the idea for “downloading the entire web onto computers” came to Google inventor Larry Page in a dream when he was 23 years old. He claimed, “I spent the middle of that night scribbling out the details and ...

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Innovative IoT Ups and Downs (Still) Hinge Largely On Security

Innovative IoT's Ups and Downs (Still) Hinge Largely On Security - Innovation Excellence

The idea of an IoT future is both exciting and terrifying. Unfortunately, for every wonderful idea made plausible by the IoT, there are still core issues that need to be worked out. With consequences ranging from annoying to potentially deadly, it’s hard to weigh the potential benefits made plausible and possible by innovation in the IoT against the dangers that the same systems will inherently expose us to. Nevertheless, we must look ahead and realize that even if the IoT is-coming-no-matter-what, there is no similar promise that follows in terms of security and disaster mitigation--at least not yet.

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Creating Products Customers Want with Innovation Wars

Co-create

How can product managers help their organizations innovate in a way that will appeal to customers? Co-create with your customers. It is frequent advice, but how do you really accomplish it? To find out, I discussed the topic with the author of Innovation Wars: Driving Successful Corporate Innovation Programs. It’s an authoritative guidebook for innovators and product managers that includes ...

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Trend-driven Innovation for Product Managers

Consumer Trends

Smart product managers study trends and innovate accordingly. This is trend-driven innovation. Uber’s success is an excellent example of trend-driven innovation. It made transportation more convenient and also made earning money easier for drivers. Both were possible due to changes in perceptions of sharing – a trend that became known as the sharing economy. Trends can be a product manager’s ...

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Innovate like a startup or like big business?

Startup and Big Company

Startups are king when it comes to innovation. Indeed, established companies often strive to behave more like startups. But in reality, it is quite challenging. Startups, on the other hand, wish they had access to resources, particularly capital. So, there’s something to be said for the large corporation: It has experience, distribution channels, and access to cash. Each wants what ...

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Building Product Lifecycle Excellence

Building Product Lifecycle Excellence

Developing products in today’s market is a formidable task. Cycle times are shrinking and the pressure to do more with less is increasing. As the stress to get products to market faster increases, little room is left for learning through mistakes. But isn’t making mistakes an important part of the process?

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Innovate by Adopting a Role Model Organization

A female hand to find select choose pick a businessman to dangle above a line of business people for employment recognition promotion hire etc

Can you innovate and improve business performance by copying another company from an entirely different industry?  This is what the Henry Ford West Bloomfield Hospital in Michigan did when it wanted to transform its customer service and operational efficiency.  The hospital borrowed some of the practices of a five star hotel and hired a new CEO who had previously worked ...

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