What do Blue Lobsters Have to do With Innovation? Everything!

Mills Scofield

Because the key to innovation isn’t processes, stage gates, weird exercises, or competitions. They think they’re innovative because they make something in green instead of just red, but they stick with their industries, markets, customers, and (usually dying) business models. Blue Lobster at the South Bristol Coop , 2004. What’s with blue lobsters? Well, a blue lobster is rare, about 1 in 2 million , and very beautiful.

What do Blue Lobsters Have to do With Innovation? Everything!

Mills Scofield

Because the key to innovation isn’t processes, stage gates, weird exercises, or competitions. They think they’re innovative because they make something in green instead of just red, but they stick with their industries, markets, customers, and (usually dying) business models.

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Obama Won With Minorities. Marketers Should Too

Harvard Business Review

In some of these markets, minorities are in fact the majority. I'm a product of a market like this. While political operatives have their own lessons to learn from the 2012 electoral results, marketers need to utilize some of the same strategies Obama used to win a second term — particularly in his appeal to minorities. Start with the majority-minority markets and juxtapose them with local markets with high category development. Marketing

Big Data In Your Shampoo?

Mills Scofield

Once upon a time, before the era of big data analytics, corporations had similarly routine business growth issues and threats: i.e.: after years of being the market leader in a specific product category, they quickly begin to lose market share, they wanted to introduce their product into a new market. So, how would you prepare for a stage gate meeting that includes a "Go/No-Go" decision on continuing to develop a specific product?

From idea to strategy

Lead on Purpose

Filed under: Leadership , Knowledge , Market-driven , Innovation , Product Management / Marketing Tagged: | strategy , customer focus , products , services , Carol Bartz , Yahoo! Sounds like the goal for Bartz at Yahoo is something like “realign Yahoo products to the market&# , with action items including killing ‘space debris’ and formalizing the customer review process. She has a tremendous task ahead to realign Yahoo’s products to the market.

How to Hand Off an Innovation Project from One Team to Another

Harvard Business

Truth is, you can have the right portfolio of investments, the right metrics and governance, the right stage-gate development process, and the right talent on the right teams — but if you don’t design the right handoffs between your teams, all of that planning falls apart. Scalers iteratively experiment and tweak new ideas until they find product-market fit using methods like agile or lean. D-BASE/Getty Images.

Two Questions to Ask Before You Set Up an Innovation Unit

Harvard Business

The seven roles for CIUs are: designing shelter for innovation; supporting best practices and methods; developing skills; supporting business unit initiatives; identifying new market spaces; facilitating ideas generation; and directing seed funding. following a traditional stage-gate process). Classen Rafael/EyeEm/Getty Images.

Ready for Growth, But Not Prepared

Harvard Business Review

In particular, most respondents expected growth in emerging markets to become more important, as the underlying growth rate in developed economies remains sluggish. The firms looked forward to making acquisitions — perhaps responding to the attractiveness of a hot M&A market, loads of cash on the typical corporate balance sheet, and still-historically-low interest rates.

What Big Companies Get Wrong About Innovation Metrics

Harvard Business Review

Market share, cost reductions, and profit margins of new businesses are examples of impact metrics. The most widely used metric among our respondents, for instance, was revenue being generated by new products or services over the course of their first few years in the market. Stage-gate specific metrics, i.e. projects moving from one. stage to the next. Kenneth Andersson.

A Disciplined Approach to Evaluating Ideas

Harvard Business Review

The general way around this problem seems simple enough — have a process by which you evaluate ideas in different ways at different stages of development (most call this a "stage-gate process."). This kind of process can help successfully move an idea from a Post-It note to the market. Our fund specifically looks to seed businesses that have the potential to disrupt existing markets or create new ones.

Exploit IT for Strategic Benefit

Harvard Business Review

One financial services company we know reviews the viability of the business case at every major stage gate. If changes in technology or markets are challenging the likelihood that the business case will be realized, project sponsors have two choices: stop the project or revise the business case to reflect what they believe they will be able to achieve. IT leaders have long embraced the idea that the role of the IT unit, and of enterprise IT systems, is to enable business.

CIO 8

Taming Your Company's Most Elusive Beast

Harvard Business Review

R&D investments have been made, stage/gate processes have been built, creativity training courses have been run, and yet the outputs — exciting new products and services — don't seem to be falling into place. Consider, for example, the UK software company, Red Gate. Some pharmaceutical scientists will spend an entire career working on drug development without a single one of their products reaching the market.

The 5 Requirements of a Truly Innovative Company

Harvard Business Review

Likewise, no matter how slick your company’s online idea market, it won’t yield many high-value ideas if your associates haven’t been taught to think like innovators. For a product or service to be counted as innovative at Whirlpool, it must be unique and compelling to the consumer, create a competitive advantage, sit on a migration path that can yield further innovations, and provide consumers with more value than anything else in the market.