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Companies sharing innovation experiences

  • Publisert 26.10.2011
How to scale innovation impact and how to create more value from innovation for companies and their customers?

General Electric explained how the world’s largest industrial company has changed the way they work with innovation. 

 

The main question for General Electric has been how technology can be turned into a business model. The innovation culture used to be dominated by R&D and technology, and a central step has been to make marketing the new source of sustainable competitive advantage. As a result of this, the marketing division now writes the innovation strategy plan, and they company’s innovation culture is based on freedom within frameworks.

 

Microsoft said that they assess innovation from three dimensions: technology, business and experience. They realize, that as the growth cycle of new products are shortening, it creates a demand for quicker and quicker innovation processes.

 

It was also stated that Microsoft instead of doing surveys or using focus groups, they observe people. They emphasized that innovation is all about the people using it: Give a great idea to the wrong people and it will squander. Give a mediocre idea to the right people and they will figure it out.

 

KIN at the American Kellogg School of Management in October 2011Large companies shared their innovation strategies and experiences at Kellogg Innovation Network’s (KIN) Fall Dialogue, with Senior innovation adviser Jørn Bang Andersen from Nordic Innovation as one of the participants.

 

Among the attending companies were General Electric, Microsoft, SAP, Peak Learning Kraft Foods, Amway and Insight Labs.

 

Adversity Quotient and innovation

The presentations on innovation and performance were rounded up with an explanation of the concept Adversity Quotient (AQ).  AQ is a method for measuring and strengthening human resilience. People and organizations with high AQ are said to be better at overcoming adversity and problems. In addition, innovators are said to have a higher AQ than the average, which among other things mean that they do things in spite of constraints.

 

KIN took place at the American Kellogg School of Management in October.