C.E.O: The New Chief ‘Experiments’ Officer Leads Innovation

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“The only way to win is to learn faster than anyone else”  – Eric Ries Lists nominating ‘The Most Innovative Company’s’ of <name the year> highlight one common theme, these are companies who have embraced experimentation in order to move their business forward.  Moreover, the biggest long-term winners are those who have figured out how to test new ideas with end customers that drive product decisions. Take Chobani for instance. Their highly competitive space requires a continuous flow of new products. How do they continuously learn about changing customer tastes?  Look no further than Chobani Soho, a bricks & mortar […]

The Innovation Factory

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The Innovation Factory Game Changing Innovation at Scale The Achilles’ heel of Corporate Innovation is the inability to productize enough ideas to create Innovation at Scale. Conventional wisdom says: Innovation is expensive, takes time and cannot be automated. In every aspect, innovation is an art and science that only humans can master. Conventional wisdom is half right. Corporate Innovation is evolving. Take R&D, the traditional base for innovation in existing companies. R&D is under pressure to move from ideas to solutions. A truly magical feat as R&D is populated with people whose job it is to find new ideas, but […]

The New Innovation Ecosystems

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  Innovation Ecosystems The business ‘ecosystems’ we grew up with were linear – we went down a generally limited path of options to get the job done. Disruptive digital innovations have changed all that. Marketplaces are now defined by ecosystems that are multi-dimensional and complex. They work around all of the old value chain rules and go direct to the customer in a new and more efficient way. The outcome: new customer relationships, more data insights and startups who get between you and your customer in unexpected ways. Business ecosystems are now dynamic, with a plethora of options. You’ll need […]

Retail It’s Time To Run (Not Hide) Towards Your Future

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While hurricanes and earthquakes overwhelm the headlines, an old friend the local retail store, continues on a long, predictable death spiral. The story is getting back page coverage. We are only 3 months away from the holiday season, historically the most lucrative moment for retail. The news suggests a not so happy holiday season. Toy’s R Us files Chapter 11 bankruptcy and Macy’s closes yet another 15% of its retail stores. This year has brought the closing of well-loved retail brands such as The Limited, Wet Seal and RadioShack. Wall Street is betting that things are going to get worse. […]

Open Innovation to Leverage Entrepreneurial Minds

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What is the problem? Corporations are very much at home with incremental innovation – often defined as ‘better sameness’. But disruptive innovation, i.e.; changing the playing field, is generally a bridge too far. Start-ups live at the edge. Disruptive innovation is their game. They have a flattened hierarchy and a shortened decision cycle. They focus on products versus process and view their organization as a ‘greenfield’; i.e.; not constrained by legacy people, process or technologies. The end result: speed to market of minimum viable products (MVPs). MVP comes with ‘build-test-iterate’ cycles that don’t wait for approvals or annual planning sessions. […]

The Evolution of The Innovation Marketplace

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Almost everyone would agree; once a digital giant like Amazon or a fast-growing start-up like Airbnb has changed the playing field, it is virtually impossible to dislodge their dominance. Digital giants and startups are setting the standards for growth and innovation. The pace at which companies need to adapt and respond to these standards is rapidly accelerating. Decision-making and execution must occur in hours or days rather than weeks and months. Unfortunately, too many legacy companies are doing things the old way. Making plans once a year, spending too much time and money fixing antiquated platforms, or even taking on […]

Innovation Moves Faster with Startup Thinking

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We founded The Innovation Scout because we know how hard it is to succeed at innovation inside of a large company. Getting ideas is not necessarily the difficult part. It’s about finding strong, relevant solutions fast enough to make a difference in your market. It’s about discovering what is possible, testing with customers, building lean prototypes and getting to market fast. That’s reflects what a startup does. You don’t need to be a startup, but you can learn from them, use their roadmap and get moving faster by collaborating with them. At the Innovation Scout we are all about helping […]

The Innovation Scout Canvas

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When you set out to scout for innovation how well do you frame the opportunity? The early stage of scouting sets the tone.  In order for your work to be fruitful quickly, you need a method to define and frame the problem. Why does time matter? Because competitors and startups are nipping at your heels already. You need to be efficient in your scouting efforts in order to find competitive advantages that will work for your business this year. We have created The Innovation Scout Canvas™ to address the need to unpack the opportunity appropriately before setting out to search […]

Artificial Intelligence: Where Do We Go From Here?

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“The business plans of the next 10,000 startups are easy to forecast: Take X and add AI.”   – Kevin Kelly In 1950 Alan Turing published his landmark paper introducing the idea that computer systems could eventually ‘think’ like a human.  If you could hold a conversation whereby the machine was indistinguishable from another human – voila – The Turing Test for a ‘thinking machine’ was born. Today we know this as the broad, humanity changing topic of Artificial Intelligence. It’s been almost 70 years…where are we today? Vishal Chatrath, CEO Prowler.io puts Artificial Intelligence activity into two general branches: perception […]