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Four Ways of Thinking That Stifle Company Innovation

  • Four Ways of Thinking That Stifle Company Innovation-
    Most scientific discoveries are built upon extensive learning from prior experiments. The same is true in innovation. Innovation is an iterative experimentation learning process. In reality, most innovations are not industry-changing disruptions.

    Most innovation is close-to-the-core improvements or add-ons or extensions to adjacent markets. The kind of ideas we want to generate — the kind we’ll call creative — are all about creating new value for customers. We don’t care if it’s already been tried or looks like “old wine in new bottles” or has been borrowed from another industry. Does it create value for your customers that no one else has yet offered them? If the answer is yes, congratulations! You’ve got a winner.

    Chances are, most of the components of the valuable ideas generated will have been floating around in some form or another — perhaps for decades. Good innovators learn how to combine existing things differently or transfer concepts from different industries or domains.

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Four Ways of Thinking That Stifle Company Innovation

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  • Four Ways of Thinking That Stifle Company Innovation-4
    Most scientific discoveries are built upon extensive learning from prior experiments. The same is true in innovation. Innovation is an iterative experimentation learning process. In reality, most innovations are not industry-changing disruptions.

    Most innovation is close-to-the-core improvements or add-ons or extensions to adjacent markets. The kind of ideas we want to generate — the kind we’ll call creative — are all about creating new value for customers. We don’t care if it’s already been tried or looks like “old wine in new bottles” or has been borrowed from another industry. Does it create value for your customers that no one else has yet offered them? If the answer is yes, congratulations! You’ve got a winner.

    Chances are, most of the components of the valuable ideas generated will have been floating around in some form or another — perhaps for decades. Good innovators learn how to combine existing things differently or transfer concepts from different industries or domains.

Too many companies are anti-innovation without even realizing it. That’s the conclusion drawn by Ed Hess, a professor of business administration at the University of Virginia’s Darden Graduate School of Business and co-author, along with Jeanne Liedtka, of The Physics of Business Growth: Mindsets, System, and Processes.” In order to stifle what's stifling innovation, Hess advises that companies dump these four entrenched ways of thinking.

Too many companies are anti-innovation without even realizing it. That’s the conclusion drawn by Ed Hess, a professor of business administration at the University of Virginia’s Darden Graduate School of Business and co-author, along with Jeanne Liedtka, of The Physics of Business Growth: Mindsets, System, and Processes.” In order to stifle what's stifling innovation, Hess advises that companies dump these four entrenched ways of thinking.