Innovation requires unpredictable thinking process

Innovation requires unpredictable thinking process. It does not have to be complicated... Thinking out of the pattern (or the box) is not always intuitive, but it sure creates a possible change which is amazingly powerful. In some cases, one does not need to re-invent the wheel, but just re-think about something that did not work in the past, take the lead and do it differently. 

Innovation & toys (R us).

Let me start by saying that there are obvious reasons as for why companies can't survive bankruptcy. Huge debt is a major one. Financial management is critical but there is more to it. In a very competitive business environment, innovation is not just a buzz word, it is a must. Imperative. It is a mean to an end (growth) as the alternative is a dead end. I argue that the rapid pace of technology changes in global markets highlights the importance of scouting for and incorporating technologies from the innovation ecosystem. 

I have seen few leading global "toy players" (and by players I refer to corporations, manufacturers and startups) looking for, developing and implementing innovation as a growth strategy. To be more specific, I would say that technologies such as Machine Learning / Augmented Reality / Artificial Intelligence / Virtual Reality. are all very interesting and relevant to these and all players, literally.

As stated in one of my previous posts, innovation, like any change, can be a very tricky thing... Sometimes it is not enough to think out of the box; one may need to break it in order to survive, grow and thrive. Saying "If it is not broken, don't fix it" is no longer relevant argument, when it comes to innovation.

I would be delighted to elaborate on possible innovation strategies and process implementation, as well as possible technology scouting solutions. 

amarin.meir@gmail.com

Why open Innovation is an essential mean of growth?

It is evident that the advancement in technology is dictating new "rules of engagement", new business models and innovation also in terms of business development. Change in the way of thinking and doing business is no longer a matter of choice but an essential mean of growth.

For many years the intellectual property (IP) has been considered as closed innovation. It means that IP has been controlled internally and served only the company itself. Open innovation, from the other hand, means that the company can also profit (for example) from licensing its IP to others, thus enabling new business models.

Research and development departments (R&D) served as an engine for new inventions, which has been developed and distributed by the company itself. The open innovation concept would suggest joined R&D efforts, which means that the company could benefit from other R&D source (a startup company, for example) realizing that there are other bright minds, in the same functional area, out there. The advantage is not only about increasing innovation but also about accelerating time to market. The company can integrate relevant technology from the outside, and use its already existed business infrastructure.

This could be a great business collaboration for the company and the startup as each business entity can benefit from the other's relevant strength. It is a winning combination of technological agility and business know how.

I am speaking from my own experience - during the past two decades, I have been intensively involved with several global corporations in business leadership positions (3M, Unilever & AMEX GBT). I have also worked for innovative startups, including one of my own.

It is essential to look beyond the existing business boundaries and gain access to new ideas, technologies and business models. Using open innovation methodology can accelerate business growth by providing critical competitive advantage.

Need a practical idea about open innovation?

amarin.meir@gmail.com

GlobalStart Business Innovation.

5 insights on Innovation. From Business  Leadership Experience.

My business innovation journey started years ago. I was really fortunate to work in a business leadership positions for few of the most innovative corporations in the world. Both 3M and Unilever are well known in general, and as innovation leaders, in particular. I was also inspired working for various startups, including my own venture. The business and technological areas I have covered were and are truly diverse. From advanced autonomous aerial platforms through innovative bio-metrics systems, communication technologies and HLS solutions. There was one thing in common, though for all the companies and ventures I worked for - the passion to innovate and grow. I would like to share few insights about this magical word - innovation.

1. The upside down puzzle

If I should visualize it, I would say that innovation is like solving an upside down puzzle. You think you know what you should do but it is complicated without seeing the overall picture. You start with the 4 edge pieces and focus on the piece by piece context. It means that you should concentrate better on visualizing the shapes instead of colors shades. Innovation is the way that lights the process, where eventually the pieces fit together. Once acquiring the innovative mindset, it really doesn't matter which way the puzzle faces. 

2. The 4 edge pieces

Innovation boost in any organization requires focus on 4 critical elements. Business leadership, employee's empowerment, lean management orientation and external influence. Innovative inspiration starts with the top leadership as a strategic decision. It is then become an integral part of the organization, an embedded value which contributes to true culture of innovation. Such culture could be better adapted by empowered employees. Employees that are encouraged to dare and take smart innovative risks, The human factor is one aspect of the equation. The organization itself should also adapt lean business management orientation to better support the overall culture of innovation. Still, it is not enough. Sometimes thinking out of the box is not enough. One need to go and interact out of the box. It means oneness to external influence, such as business cooperation and partnerships.

3. Setting the expectation

Innovation is an opportunity to embrace change, but we all know that change is not trivial. It should be managed as any other project, answering an immediate need with a long-term impact. The practical implementation of innovation may not necessarily result revolutionary change. It will, however reveal critical and practical advantages such as better / other products, advanced solution, improve ease of use, better price or even enhanced customer experience.

4. Implementation innovation comes with challenges

There is no one innovation program or magic formula that fits all, by definition. Innovation comes in different ways, shapes and forms. It is accepted and embraced differently by various organizations. Customized innovation program that introduces number of principals and practical methods can be considered. Once properly engaged, it should actually encourage creative thinking, problem solving mind-set and eventually a process and culture of innovation. For a purpose.

5. It is a fact

The rapid pace of change in the business arena combined with disruptive and accelerated technology capabilities, demand more innovation at a much faster rate. It not a question of when but how. The sooner the better...

Business innovation in action

The creative and diverse career journey has provided me with valuable innovative attitude - from experience. I know it from first hand because I have been there. The combination of 20 years of diverse business experience together with unique academic studies (BA in Philosophy & MA in Public Administration) has provided me with significant innovation tool-box. It is my mission now, to assist and support ambitious companies interested to grow and innovate. 

Feel free to contact me for more. 

amarin.meir@gmail.com

Are there still benefits of knowing multiple languages?

English is widely spoken language in our global business world. Mastering few languages used to be a real asset in the past, but today we live in a global village where language is no longer a barrier. More and more global companies have physical presence in given countries, so language is not a challenge.

I do speak a few languages in a very good level, and others in working proficiency level. Got it from my family and as a student. It is a real pleasure. I do believe that by mastering (or even trying to learn) few other languages one shows some respect to other cultures. It also serves as a great international bridge for communication.

The question is: is it still relevant these days...?

Leadership & Business Transformation

 The business environment is changing and companies need to adjust not only their vision and plans, but also the structure of the business processes.

The rapid development of information technology in the recent years has changed organizations dramatically. The use of technologies is much more intensive. In today's reality, more and more processes are knowledge-based and this has a specific implications for most of the companies. Combines with new business trends, it requires a rethinking process which generates transformation.

Some companies are faster than others, in terms of changing or fine tuning processes. Regardless of the size, companies must change and adapt to the ever changing reality in order to survive.  It is true not only for start-up companies, but also for big corporations. Take a look at the top 50 companies in the NASDAQ index. See how many corporations managed to stay on the top of the list in the last decades.

Management in general and business leaders in particular are expected to be the change agents.  They are accountable and should become the change catalysts. It means that leaders should re-align (if and when required) basic values, attitudes and business assumptions. Mega trends are also very important and need to be discussed accordingly. Business transformation is more than an enhanced strategic plan, as one may think. It is a strategic organization change plan.  Vision, mission and strategies are all taken into consideration.

In some cases it is possible that such process may affect not only the structure bus also the culture of the company. The one thing that will not change is the focus on the existing and potential customers.

The outcome of the transformation discussions and preparation work should be a solid plan. Then it should be executed decisively. It is not always the easiest thing to do (like any other change) but in most cases it is a must.

At the end of the transformation process the company should be able to move forward from the past state to the future state. Implemented properly, the outcome should be significant improvement in business procedures, system capabilities and eventually better business performance.  It is more likely that a more flexible, adaptive and responsive organization will prosper these days. 

4 reasons why business leaders should learn to trust instincts

 Successful business leaders and managers are using their intuitive sense of what's best for the company. It is vital for any lasting success.

1.       Getting a balanced decision is very important. There are many cases where you will not be able to see the entire picture due to lack or insufficient data. If you must receive a decision on such a condition, balancing intuition and rationality would probably be the best methodology.

2.       Getting to know yourself is significant as well. Great leaders are well aware of internal states, preferences and… intuitions. This awareness includes a strong sense of self-worth and capabilities which means self-confidence.

3.       Have you ever been asked to do something when all your instincts directed you not to do it?  If the answer is yes, try to think it over and figure out why you should have listened to yourself. It was probably your intuition telling you what would be the right thing to do (or what you should not do).

4.       Sometimes the best answer to a given business dilemma is simply in your gut. So, why fighting the natural flow of ideas?

"Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition." – Steve Jobs

The more we listen to our intuition, the more empowered  and better off we are. It is not an exact science or science at all, but the same applies for creativity… Just use it wisely.