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Innovation propels companies forward. It's an unlimited source of new growth and can give businesses a distinct competitive advantage. Learn how to innovate at your own business using Systematic Inventive Thinking, a method based on five techniques that allow you to innovate on demand. In this course, author and business school professor Drew Boyd shares the techniques he's taught Fortune 500 companies to innovate new services and products. Drew provides real-world examples of innovation in practice and suggests places to find your own opportunities to innovate.
In the bonus chapter, Drew shares insights from his own career and answers tough questions on resistance to innovation, innovation and leadership, and the difference between generating vs. executing innovative ideas.
A very popular topic in the media today is which companies are the most innovative. You see lists of companies that are the most innovative. Everybody likes to point to the most obvious companies, companies like Apple, etc. I advise companies to think about it this way. Don't get too caught up in benchmarking yourself to this company or to that industry. It's very dependent on the kind of maturity of your industry, the phase of that industry.
To be honest with you, when you look at a company like Apple, let's go there and just start there. Some people will say that they're losing their edge. Personally, I don't see that at all. Apple is a secretive company, and a great company obviously. I am certain that they use systematic approaches to come up with one idea after another. Their real genius is not just in the ideas, but it's the constant pipeline of ideas. But any company can do that. Any company can do this. Let me put it that way. Any company can generate an idea using systematic approaches then put it in the market.
Then a year later that same day, put another product in the market. Then a year later that same day put another innovative product in the market. What you're doing is you're conditioning the market to anticipate you. This is where Apple holds everybody's attention, but there's no reason that a company that makes consumer products, or industrial products, really anything even mature products. You want to start to condition the market to be ready to expect these and meter them out. Then you look at some companies that you've maybe never have heard about.
There's a Swedish firm. It's a private firm called Tetra Pak. You probably know Tetra Pak. They're the ones that make the little kids juice packs, the juice drink packs. Great company. They make lots of products you probably don't even know of, and they're one of the most innovative firms you'll ever hear about. Because they're private and they play in different sectors, they're really off the grid so to speak in terms of being innovative. They're extremely innovative. Then there are some industries I don't think they get the credit they deserve. One of them, believe it or not, is the automotive industry.
I think the automotive industry went through a real tough time as the U. S. car makers sort of lost their dominance and then they started to go bankrupt, and everything else. Meanwhile, when you look at cars today, they continue to amaze me with innovations that they come out, not just the U. S. car makers, but Japanese, the Germans, everywhere. It's really exciting to see. I watch the automotive industry a lot, and I just love to go to car shows. I like to see these new things that they come up with. They really deserve much more credit than they get.
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