The third part of the series on the panel discussion about “Innovation Management – Possibilities and Limits”, which took place at this year’s Strategy Circle Maschinen- und Anlagenbau (Strategy Circle for Mechanical and Plant Engineering), will once again focus on administrative aspects of innovation management within the company and on problems that may arise from cooperating with third parties in the area of innovation (part 1 and part 2 of the series). Weiterlesen
The second part of the series on the panel discussion about “Innovation Management – Possibilities and Limits”, which took place at this year’s Strategy Circle Maschinen- und Anlagenbau (Strategy Circle for Mechanical and Plant Engineering), will focus on administrative aspects of innovation management within the company and on problems that may arise from cooperating with competitors in the area of innovation (for part 1 of the series click here).
Companies need networks for successful innovation
In view of customers’ manifold demands, market trends, technological developments and the wealth of information available today, we must ask the question whether companies can successfully conduct innovation on their own in today’s environment. Do they need an external network? And if so, what are the opportunities and risks of such a network? Weiterlesen
In June 2013, I participated in a panel discussion on “Innovation management – possibilities and limits ” in the framework of the two-day Strategy Circle Maschinen- und Anlagenbau (Strategy Circle for Mechanical and Plant Engineering). This three-part series aims to shed more light on the issues discussed in that setting. Part 1 will focus on generic issues in the field of innovation, while part 2 and 3 will deal with administrative aspects of innovation management within the company and with problems that may arise from cooperation with third parties. Weiterlesen
Have you ever wondered how good ideas come into being? Most people think that a few geniuses sit quietly in their labs and construction offices and are suddenly struck by inspira-tion. In reality, however, these eureka moments are rare. In fact, most inventions are developed with the help of a network. In his book “Where Good Ideas Come From” (which I will present in more detail in other blog entries), Steven Johnson shows that some environments tend to nip new ideas in the bud, while others foster them.
Projects that aim to introduce changes sometimes run into difficulties – particularly if they touch upon fundamental issues. The magazine Harvard Business Manager recently published a case study on this issue. The case study deals with the question of how to develop and implement new ideas effectively in the corporate context; its main topic is innovation and change management. Weiterlesen
How do corporate decision-makers in a high-wage country (such as Germany) screen the pile of ideas, proposals and suggestions to select those which may be profitable in the long run? First, they need to identify valuable innovative ideas, and then they have to decide which innovative ideas the company will pursue. As a rule, this situation is complex and uncertain. In practice, companies have a range of tools and methods at their disposal and rely in addition on the personal experience and expertise of internal and external experts to assess ideas. Nevertheless, all efforts to base decisions on an objective and facts-based evaluation of new ideas are subject to certain limitations (see also “Die Bewertung von Innovationsideen. Eine empirische Analyse von Bewertungsdimensionen und sozialen Einflussfaktoren”/“The evaluation of innovation ideas: an empirical analysis of evaluation criteria and social influencing factors”, doctoral thesis at RWTH Aachen, 2012). Weiterlesen