Looking for innovation management advice? Interested in setting up innovation infrastructure, or looking for ways to improve your innovation performance? Searching the internet will give you 14.7 million hits when Googling for “innovation management advice”. What to look for? There are three issues to consider when establishing or improving your innovation process and output.
Although new business development is as important for law firms as it is for any manufacturing firm, manufacturing firms have dedicated unit to develop new products and services, whereas law firms do not. How to organize for innovation in a legal firm?
How convenient would it be to have someone else innovate on your behalf? You point out the issue that needs to be resolved or improved, and someone else will do the work and come up with a new product, service that will do exactly what you asked for. Then you only have to …, well what parts of the process would you still have to do?
Medical innovation centers are becoming increasingly popular, as a recent article in the Washington Post attests. Every health care center or system should have such a center, because it signals that the institute cares about, and works hard to provide better care for their patients. What does it take to ensure medical innovation centers contribute to improved patient care?
Does innovation happen like magic? No, innovation takes a lot of hard work. However, according to Stefan Thomke, professor at the Harvard Business School, innovation and magic have more in common than you think.
Can law firms create new services? Absolutely! A nice example of legal innovation is the FISHstep program. This program is a unique new legal service for technology start-ups in need of intellectual property support.
The Organizing4Innovation Idea Generation Webinar explains what the idea generation phase of the innovation process entails for professional service organizations. The Idea Generation stage is the first stage of any innovation project. It is both important and time-consuming, because only during this phase do you have maximum flexibility to get your solution right. Executing changes in your concept at a later stage is more difficult and expensive. While making changes and iterations may not seem to you like progress, in terms of learning you will discover that you are in fact advancing in leaps and bounds during this phase.
Different clinicians, in different hospitals produce different results on different procedures. Stefan Larsson looks at what happens when doctors measure and share their outcomes on hip replacement surgery, for example, to see which techniques are proving the most effective. Could health care get better — and cheaper — if doctors collect such data to learn from each other and innovate?
The Resource Curse Thesis was developed in the 1990-ties by Richard Auty. Resource rich countries, countries with an abundance in natural resources, are poorer and have slower growing economies than resource poor countries. Does the same apply to innovation? Are resource poor firms, or innovators, better at innovation than those who have abundant resources?
Companies like Theranos and 23andMe represent a trend in healthcare of preventative, personalized and patient oriented healthcare. Better, faster, and cheaper monitoring of your health with the aim to prevent becoming ill, isn’t that the ultimate form of healthcare? Theranos for example, compares itself with the scale you use to monitor your weight, instead they provide a scale that provides you with information on the wellbeing of your entire body. Yet, who’s weight is being helped by monitoring it on a daily basis?
Innovation has become a buzzword, and not surprisingly, there are many innovation myths. Scott Berkun has debunked some of these false stories, from the myth of epiphany to the myth that your boss knows more about innovation than you.
Reading about the current status of the legal industry does not make one happy. Yet, never before equity partners of large law firms earned as much as they do today. A profession in crises, but what is the problem?