Tag Archives: value

The One Big Reason Every Business Needs to Embrace Complexity

The underlying premise of any organization is to create value. Historically, firms have done so through engineering ever greater efficiency. By honing internal processes, optimizing the supply chain and reducing product inventories, managers could improve margins and create a sustainable competitive advantage. That’s created a bias for simple, linear thinking. Adding extra variables to any process is bound to increase ...

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Innovation Is The Only True Way To Create Value

In The Outsiders, William Thorndike argues that the most essential skill for a manager is capital allocation. To prove his point, he profiles CEOs such as Henry Singleton of Teledyne and John Malone of TCI who, while not household names, achieved outsized returns by wisely deploying their firm’s resources. Thorndike also points out that most CEOs get their jobs not through exhibiting financial ...

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The Value of an Innovator Mindset

When it comes to driving innovation, the single most important consideration is mindset—the mindset of those attempting to achieve innovation, and the mindset of those they encounter. This is not speculation. In my peer-reviewed research, I have measured mindset and compared it to value creation, and it makes a huge difference in innovation success.

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Eight I’s of Infinite Innovation – Revisited

Some authors talk about successful innovation being the sum of idea plus execution, others talk about the importance of insight and its role in driving the creation of ideas that will be meaningful to customers, and even fewer about the role of inspiration in uncovering potential insight. But innovation is all about value and each of the definitions, frameworks, and models out there and only tell part of the story of successful innovation.

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Embracing Quick Wins and Quick Losses

When moving a new product or service through the development cycle, there are generally four outcomes a New Product Development (NPD) team can expect. Two of these outcomes are especially good – although which ones they are might surprise you. It may seem counterintuitive, but one of the positive outcomes does not result in revenue – or even a product – and organizations must learn to embrace this notion.

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Lean Innovation Series – Introduction

I've started working with a local healthcare insurance company in a role focused on driving improvement and innovation in its membership and billing operations. The company has a big focus on LEAN throughout the company and always has some sort of value stream mapping (VSM) or rapid process improvement workshop (RPIW) going on through the Kaizen Promotion Office (KPO). Despite this only being my second week on the job, I have already been involved in the company's LEAN efforts.

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