Comments on: Innovation and process in companies http://blog.mercury-rac.com/2009/02/15/innovation-and-process-in-companies/ A blog on prediction markets and innovation Sun, 01 Aug 2010 09:25:09 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: inflatable boat http://blog.mercury-rac.com/2009/02/15/innovation-and-process-in-companies/comment-page-1/#comment-1332 inflatable boat Mon, 13 Apr 2009 08:00:23 +0000 http://blog.mercury-rac.com/?p=111#comment-1332 Very informative. My interest focuses on eco-friendly innovations adopted by business firms, both big and small. I do hope that more companies would take part in green ways as to make a big difference for the life-giving planet that we live in, especially now that we are in the brink of the global warming. Very informative. My interest focuses on eco-friendly innovations adopted by business firms, both big and small. I do hope that more companies would take part in green ways as to make a big difference for the life-giving planet that we live in, especially now that we are in the brink of the global warming.

]]> By: fnazeeri http://blog.mercury-rac.com/2009/02/15/innovation-and-process-in-companies/comment-page-1/#comment-1100 fnazeeri Mon, 16 Feb 2009 20:07:06 +0000 http://blog.mercury-rac.com/?p=111#comment-1100 Couple of thoughts:<br><br>(1) Your definition of innovation is needlessly narrow by including only "technology." Some of the best innovation I've seen is in the form of business model (e.g. free dating site a la PlentyOfFish) or process (e.g. Dell let customers design their own computer).<br><br>(2) Not really on-topic, but this video on how<a href="http://www.youtube.com/watch?v=_424YskAfew" rel="nofollow"> NASA stifles innovation</a> was funny.<br><br>(3) The HP story reminds me that there are 3 components of successful implementation: (a) the idea, (b) the implementation and (c) market timing. Most folks focus on (a) or (b) but in reality, (c) is probably the most important. I wrote about this in a <a href="http://www.altgate.com/blog/2008/12/market-timing-is-a-skill.html" rel="nofollow">startup context</a>, but I think it applies equally to larger organizations. Identifying ideas is a low value exercise in my view. Almost everyone comes across many "innovative" ideas on a daily basis but it's really the execution and market timing that keeps these from reality. Were I developing software or processes to help with innovation, I'd focus on the latter (although I'm skeptical that much of this can be formalized). Couple of thoughts:

(1) Your definition of innovation is needlessly narrow by including only “technology.” Some of the best innovation I've seen is in the form of business model (e.g. free dating site a la PlentyOfFish) or process (e.g. Dell let customers design their own computer).

(2) Not really on-topic, but this video on how NASA stifles innovation was funny.

(3) The HP story reminds me that there are 3 components of successful implementation: (a) the idea, (b) the implementation and (c) market timing. Most folks focus on (a) or (b) but in reality, (c) is probably the most important. I wrote about this in a startup context, but I think it applies equally to larger organizations. Identifying ideas is a low value exercise in my view. Almost everyone comes across many “innovative” ideas on a daily basis but it's really the execution and market timing that keeps these from reality. Were I developing software or processes to help with innovation, I'd focus on the latter (although I'm skeptical that much of this can be formalized).

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