This article looks at surveys observing metrics companies use in order to measure innovation and common trends between successful and unsuccessful metric practices. It goes on to show how most companies deal with metrics and gives comparisons between companies all over the world. The idea of using metrics to keep track of your company's innovation is a good idea, however using the correct metrics to guide innovation will cause your business to excel.
Results 1 - 10 of 26
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by in The McKinsey Quarterly on November 01, 2008
by in The McKinsey Quarterly on November 02, 2000
Philipp M. Nattermann explains why strategic herding, meaning adopting a competitors successful business plan, may be a good operational tool, but a bad benchmark. When two companies are competing in the same market both of the companies margins decline in the long run. This happens because when more and more companies enter into the same market the amount of profit is split between all of the competing businesses eventually making the market unprofitable. Philipp M. Natermann discusses other possible business plans that may be a better option.
by in The McKinsey Quarterly on May 01, 2007
Lowell L. Bryan and Claudia I. Joyce talk about effective business strategies for today's market and gaining a competitive advantage. Most businesses today use metrics based on accounting earnings and returns on capital. Instead, if a business wants to grow in today's economy, they should be focused on a greater economic growth relative to worker intangibles and earnings per employee.
by in Carlie Rose on October 28, 2010
In this video Charlie Rose along with Eric Kandel interview Richard Serra, Chuck Close, Oliver Sacks and Ann Tecmkin on the subject of the human brain and creativity. It's discussed that creativity is a process and everybody has the ability to be creative. Creativity can come from many different places most of which involve doing rather than waiting for ideas to come. This is seen in art and science alike; even though the areas are drastically different, similar paths are taken when it comes to developing ideas and being creative.
by in Harvard Business Review on May 01, 2006
Donald L. Laurie, Yves L. Doz, and Claude P. Sheer talk about what a company needs to do in order to increase their growth rate after it begins to fall short of expectations. The main idea this article presents involves creating a new platforms for businesses instead of developing new products. In some cases the development of products can increase growth rates, but creating new platforms is more effective in the long term.
by in Harvard Business Review on January 01, 1999
W. Chan Kim and Renee Mauborgne explore the idea of creating new market space allowing a company to expand and increase growth rates. Many companies today observe their closest competitors attempting to get ahead of them with the same idea of value. These companies are growing but with incremental margins. Using different techniques including looking at similar industries, looking at the same industry in different ways, looking ahead in an industry, etc. a company gives itself the ability to expand and grow.
by in Harvard Business Review on April 01, 2004
Michael Hammer explains operational innovation and the effects it can have on business. The main areas of change executives address are exciting and benefit companies in the short run while both the company and their executives get noticed. On the other end of the spectrum exists operational innovation which is considered an under the radar innovation causing many companies to not even consider it. Observing companies like Progressive, Walmart and Toyota this article explains how a company could implement operational innovation, in the end proving to be much more valuable then the loud and exciting short term changes several companies indulge in today.
by in Harvard Business Review on July 01, 1995
Rita Gunther McGrath and Ian C. MacMillan tell about discovery-driven planning and a process to successfully venture into a new business. When a business moves into an unknown market in order to expand and increase overall revenue a large amount of risk will ensue. The risk factor comes from making assumptions in an area of business unknown to the company. This article proposes Discovery-Driven Planning, proposing a specific process dealing with the many risk factors, which gives the new business venture a much better chance of success.
by in Harvard Business Review on October 01, 2006
Tarun Khanna and Krishna G. Palepu describes competition between global and local corporations. At first glance the global cooperation may appear to have the competitors edge when competing in an emerging market, but this may not necessarily be the case. This article talks about different ways a small local group is able to compete, and my even have the upper hand when competing against the global cooperation in emerging markets.
by in The McKinsey Quarterly on March 01, 2011
In this article Bruce Simpson interviews Pierre Beaudoin about his company Bormbardier and how he changed the company’s culture and got them on the track to be more customer oriented. Initially Bormbardier was a company concentrated on engineering and manufacturing, and becoming number one in their industry. Making products directed toward their customers wasn’t even an after thought. In order to refocus his company toward being more customer based Beaudoin had to change their culture by creating company wide priorities and leadership skills. To achieve these new priorities and leadership skills he pushes goals geared toward them and teaches his employees to set their own goals.
