Exploring initiatives for innovation
Insurers have for years mistaken optimization for innovation, but true innovation requires a willingness to try something different to address persistent operational challenges.
When thinking about business value, there is often confusion between efficiency and effectiveness. Both are required to create value. Both are important. However, one cannot be substituted for the other.
Efficiency has its limits. One cannot get water out of a rock!
Another way to think about this issue is to think about optimization versus innovation. The former focuses on squeezing the last drop of value through existing means; the latter on finding new means of value creation.
This report takes the example of the insurance industry and makes this point more elegantly!
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This excellent article presents both the imperative and process for innovation. Must read! This paper describes a holistic, multidisciplinary framework that enables organizations to take a strategic approach to innovation. This working paper presents the "Cranfield Enterprise Model:" A framework for business information modeling. This presentation discusses the imperative for information technology innovation, the emerging role of the CIO in fostering IT innovation, and effective IT organization practices that implement the CIOs innovation agenda. This series of papers sets the innovation agenda for the CIO. As the role evolves from being the head of IT to that of a business leader driving business value there are additional demands placed on the CIO. How should a CIO run IT for effectiveness?... This article presents a framework for innovation management for sustainable business value and discusses different kinds of value creation and operating contexts within this framework. The authors present a case for technology transfer - in-bound and out-bound - integrating the perspectives of technology source and recipient through a discussion on the "potential interactions of absorptive and desorptive capacity in interorganizat... This brief paper describes novel ways that imaginative companies are gaining competitive advantage by breaking the rules of engagement with consumers. This paper describes the surge of interest in the phenomenon of leveraging competitive spirit to create breakthrough ideas and outlines the factors critical for the success of competitions that seek ideas from company employees. This presentation provides an introduction to innovation - what is it? why is it important? how to implement it in your organization? A very good read for the CIO who wants to get a definition of innovation, and a general overview of the innovation j... This presentation introduces "killer" innovation as "significant and highly profitable departures from current offerings or practices that are difficult to imitate" and proposes that it is a better way to innovate. Do companies that leverage IT produce more business value than those that don't? Erik Brynjolfsson, in this interview, argues that not only is the answer a resounding yes it is even more overwhelmingly "YES" for IT dependent industries. This paper details what to expect in innovation management over the next 10 years, the key trends in the way companies manage innovation, and ground-breaking approaches and concepts and what they mean for business leaders.
Posted on 05/20/2009 by