...How to foster innovation in your business Presentation on the occasion of the Credit Suisse event 7th September 2013, Zurich Dr. Reto Müller Chairman of the Board of Directors Helbling Holding AG Helbling - a Leader in Technological Innovation and Business Consulting Helbling Group Key figures 2012 We are unique through our ability to integrate a spectrum of professional know-how, experience and skills. 458 employees Our ability to link technological expertise with business competence results in entrepreneurial success for our clients. Companies in Switzerland, Germany, USA and China Revenues CHF 110.9m International Network Offices (Corporate Finance International) Owned by 25 managing partners 2 Examples of innovations at Helbling Extract out of some thousand innovation projects in more than 50 countries Innovation leaders collaborating with Helbling: Nestlé, Roche, ABB, Airbus, Siemens, Medtronic, Schindler, Pfizer, Novartis, Sonova, Google, BSH, Geberit, Sika, V-Zug, Source: Helbling Qiagen, Tecan and many others 3 Strategic innovation management – selected Helbling references Companies Why Helbling? We measure ourselves - e.g. on the increase of the value of your innovation pipeline We are senior experts with over 15 years consulting experience and a focus on the topics "Increasing innovation success and increasing the power of innovation» We use self-developed tools and instruments ...
Words: 7299 - Pages: 30
...Leadership Supporting Innovation in Organizations Introduction Leaders come in all shapes and sizes; this is evident from the many varieties of leaders in many different organizations. Whenever there is a crisis, all leaders have to step up and become innovative thinkers in order to successfully achieve the goals set forth. But there are some leadership practices that support and foster innovation within organizations. “Among the factors that influence employees’ creative behaviors and performance, leadership has been identified by many researchers as being one of the most, if not the most important” (Jung, Chow, & Wu, 2003, p. 526). Leaders have the ability to affect an employees’ creativity by catering to their needs and motivation, and by setting up an organizational culture and environment that will allow for employees to attempt different methods of thinking and speaking up with ideas or concepts without fear of being punished. (Jung, Chow, & Wu, 2003, p. 526) Leadership Practices Supporting Innovation A few key practices particular, in my opinion, spurs innovation, including leading people, strategic planning, participative management, and change management. A final leadership practice – transformational leadership – is an essential practice in supporting innovation in organizations. Leaders who can effectively lead their members ensures that members are motivated and develops an environment that supports innovation. “Leaders who have good skills in...
Words: 1912 - Pages: 8
...Introduction When people hear the word innovation they usually think of invention and creativity. While this way of thinking is not incorrect, it is more accurate to look at it from the perspective that innovation is in fact being creative and inventive and taking the outcomes of the creativity process and turning these ideas into useful products or work models. In this essay I will be looking at how innovation is often regarded as the lifeblood of an organisation. 87% of people that were surveyed from the Boston Consulting Group believe that innovation is essential to the success of an organisation. The question now is, ‘how can managers stimulate innovation within an organisation?’ I will be addressing this by looking at three variables within an organisation that a manger can manipulate – Structural, human resource and cultural variables. There are many different definitions of innovation, where Kuczmarski (1996, p.7) states a simple definition of innovation being “A new idea, method or device; a novelty.” However, this simplistic and broad definition does not help managers and employees understand the characteristics of innovation and how they can manipulate the variables to stimulate innovation. If we look at an organisation that is culture orientated, we can define innovation as a social process, as Goffin and Mitchell (2010, p.8) state that innovation in a cultural context is “the intentional introduction and application within a role, group or organisation of ideas...
Words: 3052 - Pages: 13
...HOW TO FOSTER CREATIVITY IN DECISION MAKING Abstract Creativity is the most critical and important factor for all organizations to take advantage of in order to survive during these challenging times (Kanter, 1983; Tushman and O'Reilly, 1997; Utterback, 1994). Ongoing uncertainties of both the economic and global financial markets, indirectly forces almost all successful companies to adopt a new corporate business model largely based on using individual creativity to facilitate and enhance organizational innovation. In order to build and sustain an effective organizational culture conquered by creativity and innovation, organizations must effectively identify to maximize all creative wealth of their members, develop creative leaders and management teams and provide a kind of work environment that is highly supportive of creative expression. The focus on this paper is to examine the ways to foster creativity in decision-making since it can easily be seen and understood that fostering creativity is not an easy task as there are no easy formulas to make creativity happen. Introduction Creativity is significant in management research (Shalley et al., 2004) and it is well defined as the production of novel ideas, which are not only unique but also useful. They are deemed to be useful when “they have potential for direct or indirect value to the organization, either in the short or long-term” (Shalley et al., 2004). Ideas can always be generated by anyone, and are either...
Words: 2749 - Pages: 11
...Computing // Email Marketing // Starting a Website // Small Business Resource Center Reference: Innovation: Key to Successful Business by Chad Brooks, BusinessNewsDaily Senior Writer | September 23, 2013 08:20pm ET 21 33 1 Reddit 23 ideas, inventions, patents [Pin It] Credit: Light bulb idea image via Shutterstock View full size image One of the keys to any successful business is being able to come up with new ideas to keep operations, products and services fresh. The process of bringing those ideas to reality is called innovation. While thinking up new ideas is one step of the process, businesses have a much greater task in trying to turn that into an actual product or service that will benefit customers. In an article he wrote for BusinessNewsDaily, Fusion92 vice president of innovation Jacob Beckley said while innovation might have slightly different meanings depending on the industry, its core is universal. "It embodies the improvement of something that has come before," Beckley wrote. "It is the evolution of convenience, efficiencyand effectiveness." The companies that do this best, according to Beckley, are the ones that will ultimately have sustained success. "In the vast sea of innovation, companies that take the largest risk, close the biggest gaps and identify the newest opportunities are rewarded with the title of true innovators and leaders by their consumers and peers," he said. "These true innovators are setting themselves apart from...
Words: 1590 - Pages: 7
...Importance of Innovation Architecture Grand Canyon University: ENT-435 11/16/2014 Here is a reminder from the syllabus about the assignment requirements: For this assignment, you will research the innovation architecture of at least three companies that are well-known for successfully supporting a culture of innovation. Write a 1,500-word paper that addresses the following: 1. What particular elements of each organization’s culture, processes, and management systems and styles work well to support innovation? 2. Why do you think these organizations have been able to capitalize on innovation and intrapreneurship while others have not? 3. Based on what you have learned, what processes and systems might actually stifle innovation and intrapreneurship? 4. Imagine yourself as an innovation architect. What structures or processes would you put in place to foster a culture of innovation within your own organization? Include in-text citations to at least four reputable secondary sources (such as trade journals, academic journals, and professional or industry websites) in your paper. Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required. The Importance of Innovation Architecture In today’s markets competition is fierce and only the strong shall survive. In order to be able to keep up with the competition, organizations must capitalize on innovation. Innovation is the...
Words: 1876 - Pages: 8
...business world, requires the business leaders to think both critically & creatively in order to be successful in their area of expertise. Leaders are expected to be operating at such rapid pace, in this high level of business environment that critical thinking coupled with an ability to be creatively inclined while implementing business decisions and problem solving is paramount to success. Even though critical thinking may seem like a “soft skill” from a distance, it is in fact, a key component for a leader to have, not a luxury but an essential quality. Criticality assesses; Creativity originates. This exemplifying interdependence between these qualities explores and requires the art of questioning critically like Socratic questioning. A leader who constantly questions the norms, to get to the bottom of things and implements the art of questioning questions in order to better reflect on problems is successful professionally.(Boghossian, P. (2006)). Operations and supply chain management is a field of business that requires this art of thinking critically and implementing creatively; these managers in operations are continuously cajoled to think “outside-the-box”; implicitly eschewing that the box even exists! The needs of the customers is the prime today. These have to be met timely and efficiently and Operations and supply chain managers are expected to deliver, without any hiccups. This constant need to do better at business, requires the leader to be a creative analyst,critical...
Words: 1519 - Pages: 7
...Introduction Kenya has a vibrant entrepreneurial base with the potential of becoming competitive globally. There is a shift from manufacturing to a flexible labor based economy, a phenomena commonly referred to as knowledge based economy (Formica, 2005). Entrepreneurship as a whole contributes to social-economic wealth by creating new markets, new industries, new technology, new institutional forms, new jobs, and net increases in real productivity (Ngugi, 2014). Despite the vital role entrepreneurship plays in the economy, there are numerous challenges facing entrepreneurship development. The Micro and Small enterprises bear the brunt of it all (Pike 2007). It is estimated that as many as 75% of small enterprises started in Kenya fail within three years of their birth. Indeed an enterprise that is more than three years old is regarded as having achieved some measure of success. Therefore, there is the need to strengthen entrepreneurship to nurture nascent entrepreneurs and achieve the goal of enterprise development. The following are methods of strengthening entrepreneurship in Kenya: Strengthening financial systems The biggest challenge to entrepreneurial ventures is lack of capital to realize entrepreneurial dreams. A lack of resilient financial systems has been a hindrance to development of MSEs and hence entrepreneurship. A sound financial system therefore improves the entrepreneurial ecosystem. Private equity and venture capital are an important source of seed money...
Words: 2376 - Pages: 10
...C OV ER F E AT U RE Entrepreneurial Innovation at Google Alberto Savoia and Patrick Copeland, Google To fully realize its innovation potential, Google encourages all of its employees to think and act like entrepreneurs. arge organizations have enormous innovation potential at their disposal. However, the innovation actually realized in successful products and services is usually only a small fraction of that potential. The amount and type of innovation a company achieves are directly related to the way it approaches, fosters, selects, and funds innovation efforts. To maximize innovation and avoid the dilemmas that mature companies face, Google complements the time-proven model of topdown innovation with its own brand of entrepreneurial innovation. L INNOVATION POTENTIAL The concept of innovation potential is a critical, but often overlooked, element in the discussion of innovation; defining and understanding this potential is important because it is the source of all innovation within a company. Intellectual. The company possesses significant knowhow and intellectual property in many areas—most notably in crawling, storing, indexing, organizing, and searching data on a massive scale and with an extremely fast response time. Physical. Google has a network of datacenters as well as a variety of custom, open source, and commercial hardware and software to harness this computing power and make it easily and seamlessly accessible to both customerfacing products...
Words: 4279 - Pages: 18
...Training Sessions Handouts Randall Blow MGT/411 Training Sessions Handouts We believe that Brainstorming out of the other two techniques of Nominal Group and Decreasing Option Techniques that Brainstorming is the most accurate and best course of action because for every problem, there are many answers and many possibilities to explore. Creative problem solving can be accomplished in a simple, systematic process. Use the following process to your advantage as a leader! 1. Think Out of Box 2. Audacity the assurance: Accomplishing a better and stronger self-confidence 3. Mindset: Willing to take chances for success (Courage) [pic] ("Effective Management", 2002). EXPLORE THE CHALLENGE! ➢ Determining the Objective: Determine the desire, the challenge or the goal. ✓ Analyze the problem that needs to be solved within the objective. ➢ Fact Finding: Necessary data should be gathered. ✓ Point out the “5W’s”, Who, What, When, Where and Why it is important. ➢ Problem Finding: Clarify the existing problem. ✓ Make certain of the problem and make sure you focused on the right problem through finding all data, facts and opportunities that are present. GENERATE IDEAS! ➢ Discover Ideas: ✓ This is the part where the group or team undergoes brainstorming to come up with ideas that will legitimately solve the problem. ...
Words: 889 - Pages: 4
...inevitable in the modern world. Business leaders have identified that the business growth would be the top priority in the post financial crisis and one of the critical factors for this growth is the capacity for a change of their people. However, it also says that a major drawback for Organisational change would be the inability or limited capability of the leaders to manage the Organisational change (IBM Business Consultancy Services 2004 cited in Karp 2004). Mullins, 2002 also suggests that managing the Organisational change is of paramount important to organisations today. This literature review (during the period 2000 and 2012) examines the organisational change and the purpose is to recognize the OC with the key challengers faced by change leaders whilst identifying the drivers for change. The following issues i.e. that the skills that: 1) a change leader would require to take part in change management programs and to develop new ways of approaching organisational change, 2) directly transfer across various contexts 3) are required for OC, but not evident in the literature are being discussed in detailed in this document. Finally the document shows how the each skill will be used to counter the challenges faced by the leaders and how they would be helpful to drive a change. Skills required to take part in change management programs Emotional intelligence is one of the skills that a leader should possess for change process and can be defined as the ability to ascertain...
Words: 2260 - Pages: 10
...strategic leadership in the new competitive landscape expected for the 21st century. They argued that effective strategic leaders had to: (1) develop and communicate a vision, (2) build dynamic core competencies, (3) emphasize and effectively use human capital, (4) invest in the development of new technologies, (5) engage in valuable strategies, (6) build and maintain an effective organizational culture, (7) develop and implement balanced controls, and (8) engage in ethical pratices. 4.1. Develop and communicate a vision First, strategic leaders–—hopefully in concert with others in the organization–—must develop a vision and communicate that vision broadly, to help guide the formation and implementation of strategies to achieve that vision. This form of guidance is important to establish the direction of the organization for its growth, types of products, and market focus, and to achieve the desired targets. Without the guidance provided by a vision, organizations can become chaotic and are unlikely to be as successful. 4.2. Build dynamic core competencies A core competence is a major capability to perform important tasks (e.g., a function) quite well, and makes a valuable contribution to a firm’s competitive advantage. A dynamic core competence implies that the firm continues to develop and update the competence to be the leader, or at the forefront, in that capability. It also implies that the firm is prepared to develop a new competence to replace...
Words: 3091 - Pages: 13
...Theory…………………………..........................................................................3 5. Transformational Theory…………………………....................................................................3 1. Leadership Styles…………………………………………………………………..………4 1. Autocratic Leader………………………………………………………………………………4 2. Bureaucratic Leader………………………………....................................................................4 3. Democratic Leader…………………………………………………………………………..…4 4. Charismatic Leader………………………….............................................................................4 5. Transactional Leader……………………...................................................................................5 6. Transformational Leader………………………….....................................................................5 2. Emotional Intelligence……………………………………………………………………..5 1. Definition………………………………………………………………………………5 2. Goleman Leadership Styles………………………........................................................6 3. My Personal Reflection on Leadership ………………………………………………..….7 4. Self-assessment…………………………………………..…………………………………9 5. My Suggestion …………………………………………………………………………….9 6. Easy Case Study…………………………………………………………………………..10 7. Conclusion………………………………………………………………………………...11...
Words: 4003 - Pages: 17
...------------------------------------------------- Task 1: Organization and Leadership Analysis Assessment Code: C200-Task 1 Name: Nongbzanga Tiendrebeogo ID: 464060 Date: 25/9/2015 Mentor Name: Michelle Caldwell Table of Contents Acacia Overview 3 Acacia Description 3 Leadership Practices at Acacia 4 Relationship Between Leadership and Organizational Culture at Acacia 5 SWOT Analysis of Acacia 7 Organizational Strengths of Acacia 7 Organizational Weaknesses of Acacia 8 Organizational Opportunities of Acacia 8 Organizational Threats of Acacia 9 Leadership Evaluation at Acacia 10 Leadership Strengths at Acacia 10 Leadership Weaknesses at Acacia 11 Recommendations for Leadership Development at Acacia 12 References 14 Acacia Overview Since 1969, the Latino based agencies, Acacia Network Housing, a non-for-profit organization, provides services in the area of health, economic development and housing. According to the welcome message of the CEO Raul Russi, the company is exceptionally proud of the staff. Being myself part of the team, I can say that each employee completes their duties every day with consideration of the following values: Excellence, Commitment, Leadership and Customer Service. Looking closely at the big picture, I will analyze the head of my department, Ms. Jenny Morales, Head of the billing department at Acacia Network Housing. Ms. Morales being the one I am reporting to in daily basis will be the adequate individual to analyze and...
Words: 3117 - Pages: 13
... What are the implications of the government in entrepreneurship? -‐ A dive into the Swiss and Chinese situation. POPADIC Jovan, Information Systems Lausanne, academic year 2015 1. Introduction Entrepreneurship has been a widely addressed topic in the 20th century and many renowned economists have studied the subject. Schumpeter, who might be the most famous, links entrepreneurship to innovation and emphasizes on the importance of the entrepreneur in the economic development. Like Schumpeter, Clark (1899), Higgins (1959) or Leibenstein (1978) have studied the role of the entrepreneur in the society and see it as someone who identifies business opportunities and creates companies more than somebody taking risks. In 1921, Knight showed that the entrepreneur is effectively endorsing risk because...
Words: 3921 - Pages: 16
