the business of innovation

The interesting show was broadcasted on CNBC half a year ago – www.innovation.cnbc.com, here is some interesting excerpts:

Companies that are successful innovators and which are able to sustain innovation over time are the ones that create a culture in which innovation can happen at any level at any time. They create a Culture of Innovation.

Paul Saffo of the Institute for the Future says managing innovation “…means cultivating an environment where lightning can strike twice.” So how does a company do this?

What these successful companies discover is that they need to embrace the act of attacking their cherished beliefs and traditional ways of doing things in order to take their products, services and customers to the next level. Saffo says, “Failure is the foundation of innovation”.

Roger Schank: (1)Innovators aren’t just innovative about products. They’re innovative about every aspect of their lives. They don’t live their lives the way everyone else does.// And so, they don’t honestly fit in very well.
(2)You know why people don’t innovate? They’re afraid of being told they’re stupid. “You know, what a dumb idea that was.” People hate that. So, they have to feel like they’re in a comfortable environment to have an idea. And typically corporations are not environments for radical, game changing ideas.

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