How to incentivize innovation

Every organization aspires to innovate. Or at least wants to reap the benefits: clients that come to you for your unique solutions, high-profit margins because there is more demand than you can service, and great job candidates because they want to work for you. What to incentivize to get from this aspiration to these results? […]

How to assess the return on investment of your innovation efforts?

How do you assess the return on investment of your innovation efforts? While it is often assumed that innovation drives profit, in many companies that is not the case. There innovation is a cost center, that supports the organization’s learning. Instead of the revenue generator that is supposed to be the result of the organization’s […]

Time commitment as the scarcest resource

Professional service organizations (such as law firms, hospitals, and consultancies), are organizations whose primary asset is a highly educated professional workforce and whose outputs are intangible services encoded with complex knowledge. As a result, these organizations differ significantly from manufacturing firms in their organizational structures, employee composition, and decision-making processes.  The most valuable asset of […]

How a winning mindset can help you become a successful innovator

Jim Craig gave the key note at the 2018 PDMA conference. He was the goalie of the Miracle on Ice hockey team. They beat the Russians in the Olympics in 1980. His talk was inspiring. Getting to the top and winning a gold medal is a great accomplishment. Winning as an underdog is even more special. […]

Customer discovery versus market research

Recently, someone asked me to explain the difference between customer discovery and market research. I used Henry Ford’s famous example of “If I had asked people what they wanted, they would have said faster horses.” quote to explain the value of both approaches.

Making innovation and digital transformation activities pay off in service organizations

Digital transformation seems the new buzz word in organizations. No wonder, given what you can do for your clients, with all the computing power, data, analytics, artificial intelligence, and other new tools. While the opportunities seem unlimited, the reality is harsh. Forbes estimates that over $900 billion worth of spend on such initiatives will miss their mark; mismanagement […]