Looking back over year, I can see how my behavior has completely changed. I have constantly had the radar switched on when it comes to learning and being influenced by my favorite subject—creativity and innovation. Writing blogs is also a fantastic way to process thoughts and ideas as you have to put them into words. I hope we have inspired you through the blogs to think and act differently when it comes to innovation and technology.Read More
IFS Blogs Celebrates One Year Anniversary
Hands-on Tip for Being More Innovative
My brain does not have the capacity to remember everything I read, so I need to document it, but, it must not take more than 2 seconds, otherwise I won’t do it. Instead I hope I’ll remember…but I know I won’t. But now I have a tool that helps me.Read More
More Innovation Might Come Through Junction Philosophy
The innovation process includes all stages from generating the idea to developing and selling the idea as a fully fledged product innovation to the market. In your company’s innovation processes, make sure that you stay at the junction where YOU flourish, based on your own personal prerequisites. Don’t waste your energy by assuming you are someone else and end up at a junction that doesn’t suit you.Read More
Tip: How to get rid of your innovation distractions
As individuals and companies, we need to protect ourselves against distractions so as not to lose our focus and commitment to bringing ideas all the way to new innovations. Today, distraction can include the possibilities and opportunities we see around us but also our self-perceived limited skills and experience when we compare ourselves with other people or companies.Read More
A Big and Creative Brain is a Small Brain
Many times I have asked myself why some people and companies seem to be more creative and innovative than others. Do some people have superior DNA or are they blessed with a bigger brain? I read a book during my summer vacation that shed some light on my question. I would like to share it with you here.Read More
The Formula for Successful Innovation (3 of 3)
In a study of companies in the industrial, technology, and consumer goods sectors, a correlation can been seen between investment ratios and the distribution of innovation returns reflected in the share price. Among high performers that invest in all three levels of innovation, surveys reveal that the return ratio is the inverse of resource allocation. Companies that allocated according to the above investment ratios outperformed their peers, typically realizing a P/E premium of 10% to 20%.Read More
The Formula for Successful Innovation (2 of 3)
Targeting a healthy balance of core, adjacent, and transformational innovation is a vital step toward managing a complete innovation portfolio. The challenge is that a company must be able to execute at all three levels of ambition. However, few companies are good at all three, and not entirely surprising, companies struggle the most with transformational innovation.Read More
The Formula for Successful Innovation (1 of 3)
Many times I have asked myself what the best-in-class innovation portfolio would look like. How should you balance the different innovation ambition levels such as incremental innovations with transformational (breaking news) innovations? Are there any numbers you can benchmark against and what ratio will have the most impact on your financial results and share price? What areas of management will boost the different levels of ambition?Read More
Imitation is Better than Innovation
My advice is to always have your copycat glasses on and think how you can refine and evolve existing solutions on the market. Please bear in mind that many profitable innovations that have evolved from an existing technology or user behavior.Read More
How Can a + Make the Difference?
In my role at IFS, formulating and communicating product visions and strategies for IFS Applications, I am constantly on the…Read More
Shaping an Innovation Culture Includes Rewarding Failure
We discussed whether your fear of failure is due to the fear of losing your job or damaging your career. I asked if anyone has really lost their job due to that kind of failure, but the answer was ‘no’. So maybe the fear is just a perception? …. and they nodded in agreement.Read More
What Innovation is All About—In only 4 minutes
Have a look at the movie (only 4 minutes) and then ask yourself the following two questions.
– Does my company have a space where ideas can mingle and swap?
– What makes me share my hunches with others’ hunches to get them to collide?