If one was to ask a member of the Board of Directors of most companies about the innovativeness of their company, the typical answer would be that the company is very innovative and doing well, thank you for asking. We explore the issues surrounding the role of the Board, its responsibility to asses risk due to innovation, and offer a set of metrics for keeping tabs on innovation-derived risk. After all, there is no innovation without risk !
Cuts in R&D spending may portend a decline in financial performance. Management and Boards need to rethink the broader meaning and impact of research and development ‘investment’ on their organization. Innovative companies maintain R&D spending throughout good times and bad.
In this White Paper we examine the long-term stock performance of several of the companies which we have profiled; GE, Starbucks, Toyota, John Deere, Blackberry (RIM), 3M and P&G. Innovation is not a guarantee of financial performance but it sure helps longevity.
Explore the critical elements in the process of creating a favorable climate for ideas to emerge and develop into commercial reality. Ideas for sustaining innovation.
Knowing where to start improving the management of innovation has to be rooted in a better understanding of the organizations’ current culture, policies and management practices. Better analysis means more focused solutions. Take the time to identify the problem(s) before jumping the a ‘fix’.
Tinkering is but one of four major features contributing to the innovation dynamic in the U.S. economy. Tinkering is more important than the word implies.
Canada’s ranking as a world class ‘innovation economy’ is declining. At least the WEF keeps track!