10 Ways to Stay On Top Of the Innovation Heap

Wednesday, February 6, 2013

The authors of Booz & Company's "Global Innovation 1,000 Report" offer their Top 10 things innovative companies do right (via Business Insider.com)

1. At innovative companies, everybody is an innovator.
2. Innovative companies measure their idea-generation success.
3. Innovative companies change the idea a lot before it becomes a product.
4. Innovative companies test their idea with customers.
5. Innovative companies have an internal "idea czar."
6. Innovative companies talk to customers and other partners.
7. Innovative companies find ideas everywhere.
8. Innovative companies generate ideas in three basic ways:
1. Need seekers: what do customers want?
2. Market readers: quickly create improvements on market trends.
3. Technology drivers: letting their tech experts experiment.
9. Innovative companies spend R&D money thoughtfully, not profligately.
10. Innovative companies systematically create new ideas.

Though healthcare (big pharma, mostly) is heavily represented, healthcare providers are not.   Not unexpectedly, few of these 10 activities play to providers' strengths or fit naturally into a typical hospital culture.  Outside of a few organizations like Cleveland Clinic, there's a lot more innovation 'talking' than innovation 'doing.'  Maybe it's the first step in a journey of recovery - admitting you have a problem, er, opportunity.

Read the entire article, here.