Big innovation needs ‘Big Data’ - FT.com

‘Big data’ is all the rage, and for good reason. Companies need to sort through tons of it to understand what products their customers really want, and what they will buy. After all, their future depends on it. Yet, in spite of vast amounts of market intelligence and virtually unlimited information, how well do companies really know their customer? In a world where, according to the Association of Product Management and product Marketing, more than 50 per cent of new technology products that enter the market fail, and roughly 75 per cent of consumer packaged goods and retail products fail to earn even $7.5m during their first year, we are clearly not doing a good job putting this data to work.

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The Days of "Manager Knows Best" Are Ending - Harvard Business Review

To get a glimpse of what tomorrow's young global managers might be like as leaders, take a look at how today's young people think about communications. For one thing, they are devoted to connectivity. In a recent survey of more than 2,800 college students and young professionals in 14 countries, Cisco found that more than half said they could not live without the internet, and if forced to choose, two-thirds would opt to have an internet rather than a car. This intense desire to be connected leads to a demand for greater flexibility: Two out of five people said they'd accept a lower-paying job if the position offered greater flexibility on access to social media, the ability to work from where they chose, and choice on the mobile devices they could use on the job. Tomorrow's young managers will share these attitudes, and workplaces will inevitably become more flexible.

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5 Stupid Things Companies Do to Mess Up Their Innovation | Executive Street

Even after 20 years as an Innovation Management Consultant, I continue to be amazed at the failure rate of innovation. In fact, some studies suggest that as much as 80 percent of new product introductions fail. Maybe even more shocking is the fact that less than two percent of the 3,000 patents that are issued each week will ever reach market success. What’s interesting about all this is that most of the mistakes that cause these failures come from five basic screw-ups. The result is wasted time, wasted money, and, in some cases, wasted brand equity. So, what are these five mistakes?

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Brainstorming Doesn’t Really Work : The New Yorker

ANNALS OF IDEAS about brainstorming and creativity. In the late nineteen-forties, Alex Osborn, a partner of the advertising agency B.B.D.O., decided to write a book in which he shared all of his creative secrets. “Your Creative Power” was filled with a variety of tricks and strategies, but Osborn’s most celebrated idea was the one discussed in Chapter 33, “How to Organize a Squad to Create Ideas.” When a group works together, he wrote, the members should engage in a “brainstorm.” The book outlined the essential rules of a successful brainstorming session. The single most important of these, Osborn said, was the absence of criticism and negative feedback. Brainstorming was an immediate hit and Osborn became a popular business guru. The underlying assumption of brainstorming is that if people are scared of saying the wrong thing, they’ll end up saying nothing at all. Typically, participants leave a brainstorming session proud of their contribution.

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The Rise of the New Groupthink and the Fallacy about Collaboration - NYTimes.com

SOLITUDE is out of fashion. Our companies, our schools and our culture are in thrall to an idea I call the New Groupthink, which holds that creativity and achievement come from an oddly gregarious place. Most of us now work in teams, in offices without walls, for managers who prize people skills above all. Lone geniuses are out. Collaboration is in. And y Rementer But there’s a problem with this view. Research strongly suggests that people are more creative when they enjoy privacy and freedom from interruption. And the most spectacularly creative people in many fields are often introverted, according to studies by the psychologists Mihaly Csikszentmihalyi and Gregory Feist. They’re extroverted enough to exchange and advance ideas, but see themselves as independent and individualistic. They’re not joiners by nature.

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