Mix and Match Innovation
Of the 2,798 unique links shared on the Twitter #innovation community in the past week, here are some that will mix up your day.
Wanted: Idea Fusers – What is an idea fuser you ask? Bronwyn Fryer explains that the ability fuse (match) unlike ideas results in innovation. Examples include Steve Jobs’ Mac graphical user interface and George Whitesides' postage-stamp sized diagnostic tool.
Managing the “Crazy Ideas” Conundrum – Michael Schrage tackles the question “Where should the crazy ideas come from?” He notes that these ideas often disrupt (mix up) business practices, but more often lead to huge success and increase competition. Schrage’s final statement hits home for the innovation-driven businesses: “Are you a leader in defining the right kinds of crazy for your enterprise? You'd be crazy not to.”
Is Continuous Innovation Too Risky? – There is a simple answer to this question, according to Steve Denning. The solution is to move from traditional management to continuous innovation. Or, in other words, mix up your innovation process; but be sure to
- Avoid implementation in the middle of an investor negotiation
- Give an energetic implementation
- Adapt the principles to the particular organization
Why Investing in R&D Matters – Measuring innovation is hard because it’s an intangible asset, but that did not deter the Bureau of Economic Analysis in the pursuit to better understand the growing intangible nature of the modern economy. Using gross domestic product (GDP) as a measurement to include intangibles,
“The latest data show that if R&D spending was treated as an investment, rather than a current expense, the level of GDP would have been, on average, 2.7 percent, or $301.5 billion, higher than reported over the period 1998 and 2007… if R&D was treated as investment, GDP per capita would increase by an average of about $1,000…outside research suggests that the ‘spillover effects’ of R&D spending… may account for as much as one-sixth of total factor productivity growth.”
Think GDP and innovation are an interesting match? Well here is another; rock'n'roll and innovation:
Innovators vs. Adaptors – Hendrix vs. Clapton – Peter Cook takes a unique look at creative archetypes. Here Hendrix is an innovator – also known as the fuser, the creator, and the person willing to go outside of a comfort zone in order to discover something completely new – even if that means risking popularity. On the other hand, Clapton exemplifies an adaptor – one who has great success as they produce ideas that build on existing ones. But as Cook explains, both are needed in business to produce sustainable innovations.