22 July 09
When it comes to innovation, it’s what’s on the inside that counts. “Innovation inside” can be more powerful than even the flashiest of new product ideas – especially in today’s business environment.
While some companies are cutting funding for innovation projects during the economic downturn, others are turning to internal innovation to help them improve efficiency, cut costs,
, and even generate funds for external growth initiatives. Read the rest of this entry »
20 June 08
Earlier this week, we wrote about Honda’s new FCX Clarity, which represents innovation on a very large scale. It’s redefining an industry, introducing a new business model through the leasing program, and paving the way for advanced research in energy production and consumption not just for vehicles, but for the home as well.
On the other side of the scale are equally valuable, smaller-scale, incremental innovations. These are the smaller improvements or enhancements to existing offerings that make life easier and better for customers. A great example of this is GE’s new Caulk Singles—single-use packets of caulk for homeowners. Now, I’m not much of a handyman myself, but I do know that in my garage back home are several tubes of unusable, hardened caulk. The stuff usually comes in the large tubes with hard-to-close nozzles, and most people end up wasting most of what they buy since caulk is often purchased for small-scale touch-ups and repairs. So here comes GE with a neat little solution in a 1.25 oz little packet. Read the rest of this entry »
18 April 08
I have had the privilege of being a judge for several innovation competitions. But the one I attended this week was, well, a little different.
When we think of the people who drive innovation within companies, we usually think of new product development teams, research, marketing; the usual suspects. But what about the legal department?
The folks at GE’s Capital Solutions group are embracing innovation because, well, lawyers can be innovative, too. And why not? Read the rest of this entry »