Home arrow Innovative Thinking  
Innovative Thinking
Samsung Innovation Strategy
Everyone has heard about the company named Samsung and the reason why they have heard of it is because of its innovation strategies. Innovation strategy at Samsung can be described as the way that made them a leading manufacturer in electronic industry as they keep the competitors at bay.

NIKE Innovation Strategy
Nike is the leading designer, distributor and marketer of authentic footwear, accessories and apparel for wide selection of fitness activities and sports. Nike subsidiaries that are wholly owned include Cole Haan, Converse, Hurley International LLC and Umbo International Limited.

Toyota Innovation Strategy
The innovation strategy at Toyota means the continuous search for solutions that are creative, unique and elegant. This Japanese company conquered the car world especially during the time when GM and Ford are rightsizing and downsizing.

Innovation Strategy at Microsoft
In the year 1975, Paul Allen and Bill Gates created the company which is well known today as Microsoft. After more than three decades, it has become the leader in the computer programming field. Allen and Gates have huge plans for this company and they have introduced innovative strategy both in terms of managing their products and their people.

Strategic Innovation
Strategic innovation can redefine potential customers; one example is Canon's pioneering focus in the 1970s on the development of photocopiers aimed at small businesses and home offices rather than large corporations. Strategic innovation also can reconceptualize delivered customer value, as in IBM's shift from selling hardware and software products to selling complete solutions in the 1990s. Or strategic innovation can redesign the end-to-end value chain architecture, as in Dell Computer's direct sales model, introduced in the 1980s.

Innovation Leadership
There are five key leadership strategies that need to be instilled to build a successful innovation process. Here are those five strategies. Leadership Strategy 1: Design and Implement an Innovation Strategy. An innovation strategy spells out how you intend to embed and systematize innovation in your firm, and how you will turn it into an ongoing, measurable, manageable process. It defines how you will organize the search for tomorrow's opportunities and what is expected of everyone in the organization.

Research to Discover New Product Ideas
There are many methods that can be deployed to discover ideas for developing new products. Dimensional Analysis lists all of the physical characteristics of a product type. Having obtained such a list, creativity can be triggered by asking questions such as: "Why is the product this way?" "How could the product be changed?" or "'What would happen if one or more of the characteristics were removed?"

Five Innovation Principles
Such sessions are incredibly fun and often produce lots of new possibilities and plenty of excitement. But nothing happens because innovation, or inventing the future as it's sometimes called, is not a discipline, and ideas, no matter how good, get pummeled by the pressures of the present.

Lateral Thinking
The simplest way to describe lateral thinking is to say: "You cannot dig a hole in a different place by digging the same hole deeper." This emphasizes the searching for different approaches and different ways of looking at things.

By 1970, research had shown that groups of people who sat quietly listing their ideas on their own pad of paper generated more ideas than a comparable group of people brainstorming. This finding led to the development of Brainwriting.

Creativity Blocks
Constancy means that an individual becomes wedded to one way of looking at a problem or to using one approach to define, describe, or solve it. It is easy to see why constancy is common in problem solving since being constant, or consistent, is a highly valued attribute for most of us. We like to appear at leas moderately consistent in our approach to life, and constancy is often associated with maturity, honesty, and even intelligence.

Creativity Techniques
There are a number of creativity procedures that can be used to help you discover new mind funnels and generate how-to statements that reflect new perspectives on a problem situation. Let's look at some of these.

Corporate Innovation
Management must recognize the risk/reward relationship and find organizational mechanisms for handling it. And it must communicate a clear understanding that reasonable risks are acceptable, since they are the handmaidens of progress. On the innovative front, two methods are available for dealing with risk: diversification and cheap failures. They can and should be used in concert.