The Economics of Innovation: Valuing Innovation as an Intangible Asset
The Austrian-born American economist, writer, and business consultant Peter Drucker wrote these words almost a half-century ago, and they still ring true today. Drucker had his finger on the pulse of corporate evolution and lived to see the truth of his words play out in global economic trends. “Alt
Are You Ready to Thrive in the Innovation Economy?
Henry Ford: the man, the myth, the legend. Ford was an innovator. He pushed society forward, not only with the original American automobile but also with an energized way to mass-produce on the assembly line. He was able to make his ideas become realities because of his mindset to surround himself w
Building a Business That Booms in the Innovation Economy
When Gary Hamel says, “Jump,” businesses ask, “How high?” Hamel is one of the greatest business thinkers of the present day, and The Wall Street Journal and Forbes agree. So when Hamel talks about how both business leaders and their teams need to be engaged in the innovation process in order to thri
The Innovators Network: Winning In The Emerging Innovation Economy
Evidence that the innovation economy is taking over is all around us. With the innovation we carry in our pocket, to the newest and lasted technology we have in our cars, to the smart thermostats we have in our smart houses — innovation is everywhere. These new innovation, and the ideas that sparked
Understanding the Innovation Economy and Its Impact on Our World
The innovation economy definition is an economic element based on the production, distribution, and consumption of ideas, information, and knowledge. We’re seeing the rise of the innovation economy, and those who cling to old ways of doing business are getting left behind.
The CEO Innovation Dilemma: Creating an Innovation Culture That Works
CEOs across America are facing a critical dilemma: how to keep up in today’s innovation economy. 97% of CEOs agree that innovation has grown increasingly important over the last 10 years, and 73% of those CEOs note that innovation plays an important role in determining the value of a company. The pr
How to Implement the Law of Execution
Theodore Levitt, known for creating and popularizing business terms like ‘corporate purpose’ and ‘globalization,’ understood the necessity for balancing an innovation agenda with the operational agenda. He also understood that this balance doesn’t come easy. The challenge is really two-fold. First,
3 Examples of How Poor Business Execution Can Impact Innovation
Many exciting innovative ideas fail. Why? One reason is the poor business execution of the idea. Lee Iacocca has had a few brilliant ideas over the course of his career. He spearheaded the development of some of the most classic Ford cars, like the Pinto and the Mustang, which is just one of the man
3 Innovative Companies That Understand How to Execute for Success
Jack Welch was the CEO of General Electric for two decades because he knew how to accomplish what he discussed above. He knew how to balance the execution of operational activities and innovative agendas. Not every business leader can do this, but there are a few who have. And those few have electri
The Final Key to Innovation: Understanding the Law of Execution
Innovation can sometimes seem totally intangible. It’s easy enough to come up with an idea that you believe will change the world, or at least your industry. It is putting that idea into action that becomes another ballgame. Developing an actual product or service that can be sold or put into practi
