Viewers: in countries Watching now:
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.
This course qualifies for 3 Category A professional development units (PDUs) through lynda.com, PMI Registered Education Provider #4101.
Sometimes I get a reaction from companies that will say to me, "Look, you don't understand. "Given the culture of the company we have "and given the industry we're in, we're not going "to be one of those super creative companies "like you see in Silicon Valley, we're just not that." I think companies in doing that, they're talking themselves out of being more innovative. Look, there's no doubt that companies struggle with innovation, mainly in this context. There is today's business that you've got to deliver results on, right? Companies, especially public companies, are under constant pressure to deliver financial results.
The managers of companies have to make this balance between investing in the long term versus investing in the short term. That's the ultimate business dilemma, in my view. The innovation spin, so to speak, the investments, are fighting for attention against current day results. A company, if you're going to be more innovative, you've got to spend more time on it, but there are other things that you have to do as well. You have to see innovation as an imperative to the business, like you do things like safety or leadership or business ethics or quality.
See innovation as an imperative, then train to it. You know, teach your people, right? If you want them to be more innovative, give them the skill, it can be learned. Then commit to it, right? You've got to train people, give them some resources and let them go. I don't think it's fair for companies necessarily to benchmark them all the time to Apple and Google and companies that are seen as super creative. That's really not the right question, it's really not the right comparison. It's looking deep into the market that they're in and asking themselves this simple question, "How do we unlock new value for our customers? "How do we organize for that? "How do we resource to it? "Then, how do we get the machine moving?" That's what it takes to get a company more innovative.
There are currently no FAQs about Business Innovation Fundamentals.
Access exercise files from a button right under the course name.
Search within course videos and transcripts, and jump right to the results.
Remove icons showing you already watched videos if you want to start over.
Make the video wide, narrow, full-screen, or pop the player out of the page into its own window.
Click on text in the transcript to jump to that spot in the video. As the video plays, the relevant spot in the transcript will be highlighted.