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Andrew Ross is the founder of URBNSURF - Australia’s and the southern hemisphere’s first surf park, which opened its doors to the public in January of 2020 to much fanfare.
One of my favourite thinkers of the modern era would have to be Nassim Nicholas Taleb.
In a world of push notifications, email, instant messaging, and shrinking office space, we’re becoming increasingly distracted at work.
It is said that the right mentor can help you get further, faster.As Isaac Newton said, “if I have seen further, it is by standing on the shoulders of giants”.
When our car breaks down, we call a mechanic.When our bathroom is flooded, we call a plumber.
When we embark upon a long, audacious journey, such as building an entrepreneurial venture, our over-arching goal might be several years into the future.
I recently had James Clear, author of Atomic Habits, on my podcast (below) to talk all about — surprise surprise — habit building.
I recently read this article in the Australian Financial Review, and couldn’t help but notice the entitlement and lack of creativity demonstrated by the restauranteur profiled.
‘We need more resources!’ If I had a dollar for every time I heard a corporate innovator or a startup entrepreneur utter these words
In layman’s terms, a business model is the sum of the parts comprising an organization's products or services.
As much as local governments should embody the innovative spirit of a Startup, taking this approach is challenging without hiring such a firm or agency to–at the very least–point them in the right direction.
In recent years, prominent corporations have geared towards acting more like Startup organizations, because it’s the environment most conducive to innovation.
Over the last decade, we have seen an incredible amount of technological growth across nearly every industry. Retail tech is changing the way consumers shop, and the way store owners conduct business.
A sport only needs three things to exist: competition, tournaments, and spectators – a direct catalyst to the rise to prominence of eSports.
Customized baseball bats, personalized shampoo and dog food formulated for individual dogs — these were just some of the ideas that Netflix co-founder, Marc Randolph, pitched to Reed Hastings, before coming upon the idea that would eventually become the streaming service we all know and love today.
In the ever - changing retail landscape, businesses succeeding today have to either change the game or be agile enough to move with it.
Innovations in communities create a self-sustaining cycle that benefits the cities/towns and the businesses within.
Technology and innovation have changed the way people both participate in and consume sports.
San Francisco became the first major city to enforce open data laws and is currently #3 in the country in quality of data.
History is littered with tales of fallen retailers. With new technological innovations and an increasingly competitive retail landscape in the United States, many businesses have been unable keep up.
In 2018, the Ultimate Fighting Champion (UFC) was ranked by Fast Company as the fifth most innovative organization in sports.This honor was helped along thanks to the innovative crossover super-fight between mixed martial artist, Conor McGregor, and boxing legend, Floyd Mayweather.
Italian economist Vilfredo Pareto noted the 80/20 connection while at the University of Lausanne in 1896, and published his findings in his first work, Cours d’économie politique.
I recently had the pleasure of speaking with Neil Sahota for an episode of the Future Squared podcast.
I recently had the pleasure of reading Marc Randolph’s That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea.
Creating a culture of creativity is becoming a priority for organisations all across the globe, with 82% of companies believing that there is a strong connection between creativity and business results.
There are over 100 Ritz-Carlton hotels and resorts scattered across the world. The brand is commonly associated with luxury, but did you know that the Ritz-Carlton has one of the strongest customer experience reputations going around?
Design Thinking is an approach that has been applied by organisations all over the world. In fact, 75% of organisations self-report that they are engaged in design thinking.
Today’s world is more volatile, complex, ambiguous and uncertain than ever.
Speed is absolutely fundamental to innovation.
The business model of the new economy is characterized by talent and services on demand, automation, and magical user experience.
You might already know that more than 50% of today’s S&P500 faces replacement in the next 10 years. A lesser known fact is that one in three listed companies are at risk of being de-listed in the next five years alone.
I recently concluded an intense but rewarding podcast tour in support of my now newish book, Employee to Entrepreneur.
Overnight successes are usually anything but. In most cases, what appears to be a sudden rise to prominence is often the the manifestation of years of frustration, trial and error and time spent honing one’s craft.
Ten to one. That’s how triumphantly American pilots emerged from the battle in the skies during the Korean War.
“Trust your intuition”. We hear it all the time from self-help gurus who have a tendency to make baseless statements in order to motivate (or rack up Instagram likes), and this one is no different. Why?
Trillion Dollar Coach: The Leadership Playbook of Silicon Valley’s Bill Campbell was an absolutely gripping read about a legendary coach and business executive, whose mentoring of the likes of Steve Jobs, Larry Page, Eric Schmidt, and Jeff Bezos, amongst other tech luminaries, played a major role in the success of their companies.
When it comes to executive buy-in for innovation, or a lack thereof, it comes down to overcoming one or more of the following factors.
For most of the twentieth century, large organizations could project what the next five years would look like with a high degree of confidence, but technology has changed the rules of the game in the twenty-first century and created an increasingly ambiguous and befuddling business landscape.
The profit and loss (P&L) statement is obviously key to measuring the financial performance of a business.
In the wake of the Christchurch shootings and the disturbing video that made the rounds on social media afterward, Australia’s Government expeditiously passed new legislation that puts the onus on tech companies to remove violent material from their platforms or face criminal charges.
NTUC Income (Income) engaged Collective Campus in 2018 to scout startups across Australia and New Zealand to solve two business problems.
Product, price, place and promotion – the basic tenets of marketing have remained the same for decades.
Having empathy means being aware of the feelings and needs of others.
Having robots do things around the house sounds pretty awesome, but artificial intelligence taking well-paying jobs from us is another matter.
Which type of brainstorming is more effective; fair idea exchange in a structured environment or a random, unplanned debate?
While Silicon Valley is synonymous with innovation and entrepreneurship, it’s not the only part of the world delivering life-altering, industry-disrupting ideas, products and services.
When it comes to driving marketing results, there’s no shortage of advice out there. However, there is one technique that has been gaining traction: growth hacking.
Corporate innovation is no longer optional; in order to keep up in today’s dynamic business environment, companies need to think outside the box and execute faster.
I’ve been hosting the Future Squared podcast for over three years now, having published over 326 episodes in that time with luminaries and thought leaders from fields as disparate as technology, entrepreneurship, philosophy, neuroscience, psychology, economics, politics, stand-up comedy, journalism, and corporate innovation.
Law firms have long held a monopoly when it comes to providing legal services but changes in technology and just as importantly, client expectations, are transforming both the consumption and practice of law.
During the Australian gold rushes of the 1850s, significant numbers of workers from across the globe relocated to areas such as Ballarat, Victoria, in which gold had been discovered.
Beth Comstock is a change maker who has helped people grapple with rapid-fire change and open up their companies to transformation.
Listen to the likes of leadership coach and retired Navy SEAL, Jocko Willink, and you will be up at the crack of 4:34am, you’ll proceed to splash some cold water on your face and “get after it”, despite every fiber in your body, more likely than not, willing you to go back to sleep.
Here are six key learnings from the downfall of Theranos for corporate innovation teams.
Have you ever attended a design thinking workshop? If the answer is yes, then there is a high chance you left the session feeling like this...
I recently caught up with Jason Fried for a conversation about work, life and productivity on the Future Squared podcast.
In spite of the growing uptake of technology based solutions by firms, the truly disruptive technologies revolving around AI and blockchain for instance, that will be making waves for the next few decades are still, arguably, in their infancy.
As Warren Buffett put it, “the difference between successful people and really successful people is that really successful people say no to almost everything.”
I recently had Innosight Managing Director Scott Anthony guest on the Future Squared podcast and we riffed on all things corporate innovation, or being an entrepreneur inside a large, established organisation.
The way that legal services are delivered is fast changing due to advances in technology and business model innovation.
A recent survey of 154 companies found that more than one in four company lawyers cannot name a law firm they regard as innovative.
Humans beings are an interesting bunch. What we yearn for one day, we take for granted the next. Over the past one hundred years, we’ve learned to take electricity, running water, healthcare and the fact that we have an abundance of food that comes from all corners of the globe for granted. We have a tendency to normalise any positive experience after repeat exposure to it, eventually nullifying it. We find ourselves bored with what once filled us with joy and seek out longer, more intense experiences, forever ‘chasing the dragon’ and that high of the first time.
Undoubtedly, this is a time of rapid technological transformation, with Artificial Intelligence (AI) technologies being an increasingly core area of focus for top and mid-tier law firms in their long-term strategy.
The biggest killer of innovation programs is organisational culture. Learn from experts like Steve Blank, Adam Grant, Jacob Morgan and Lawrence Levy on how to make it work within your company.
Investment on digital transformation alone is set to hit US$7 trillion worldwide by 2021, according to IDC. However, big investments open the door for costly failures, and 84% of digital transformations go on to fail. Organisations are investing big on innovation initiatives that are said to build a culture of innovation but ultimately amount to little more than innovation theatre, despite their best intentions.
The late Stephen Hawking famously said that “intelligence is the ability to adapt to change”.
In poker, your bankroll represents how much money you’ve set aside exclusively to play.
“The legal world will change more radically over the next two decades than over the last two centuries.”
So many entrepreneurs get excited when they start something but their investment and energy tapers off once that initial buzz wears off.
Virtual reality has long been considered a thing of science fiction but is quickly becoming science fact.
The real estate industry has long been considered a laggard insofar as technology adoption has been concerned with more than 40% of real estate companies still relying on spreadsheets and paper-based processes to manage properties today.
The term cargo was first used to describe a range of practices carried out by a group of people that occurs in the wake of contact with more technologically advanced societies.
It is no secret. Organisations are investing heavily in both finding and partnering with startups to drive innovation.
Hong Kong is currently ranked 16th in the Global Innovation Index and corporate innovation has never been more important in the region than it is now.
For two hundred years China was considered an economic basket case; its population resigned to a life of poverty among the rice fields.
Companies spend a lot on innovation.
On 17 January 1944, the Office of the Strategic Services of the CIA issued the Simple Sabotage Field Manual.
In the early days of Collective Campus, like most new organisations, we kept ourselves afloat by taking part time jobs on the side and working with a number of small clients who paid us just enough to keep the lights on.
Malaysia is currently ranked 37th in the Global Innovation Index and is quickly climbing up the rankings.
Collective Campus is pleased to announce the startups that have been selected as part of the inaugural PropTech accelerator program with Charter Hall.
Collective Campus is pleased to announce the startups that have been selected as part of the inaugural VR/AR accelerator program with Village Roadshow and Microsoft.
Over the past 90 days, my team has been searching high and low across Australia to find and recruit VR/AR and real estate startups to the Village Xperience and Charter Hall PropTech corporate accelerator programs respectively.
Most people don’t like pain and they definitely don’t like to experience the same pain more than once.
The financial services industry is investing heavily in driving innovation, not only in Australia, but across SouthEast Asia too.
Shanghai is fast becoming a leading global innovation hub, joining the likes of San Francisco and Singapore.
There is a cultural shift in which innovation is no longer a linear process but part of an interconnected ecosystem where people, organizations, and sectors can foster inspiration, idea-generation, co-creation, and validation of ongoing iterations.
Are you looking for the next creatively charged environment for your company? Here are the top cities around the world for corporate innovation.
Far too many entrepreneurs and corporate innovation teams fall in love with their solution, instead of the problem they’re solving or the value they’re supposed to be creating for customers.
Peter Drucker’s famous musings that culture eats strategy for breakfast rings as true today as it did then.
In the past three years, Collective Campus has been home to more than 50 startups that have gone on to raise over US$13M.
For organisations seeking to uncover new and innovative products and services, it’s no longer enough to look inwards.
As the pace of technology and disruption increases and the average company life expectancy continues to shrink, organisations need a strategy to future proof their business and avoid an ugly demise.
As the lifespans of organisations get shorter, it’s more important than ever to understand how organisations can avoid the black hole of bankruptcy and economic irrelevance.
“There is nothing worse than doing the wrong things right” - Peter Drucker.
New technology continues to drive innovation within the sports industry.
Here's our list of 20 best books on innovation. These are essential reads are relevant for innovation management, creativity and entrepreneurship for 2016, 2017 and 2018.
In just the last two years, millions of dollars from corporates and government have been committed to numerous accelerator programs. Here is a list of the top ten corporate accelerator and incubator programs in Singapore, which combine both deep domain and startup building expertise.
Why your ideation tools aren’t working and how to bring ideas back to life. In this article, we cover the definition of the ideation process steps, followed by recommended approach, examples and techniques. This is essential for the execution of design thinking.
Collective Campus in its third year now and in that time I’m proud to say that, unlike other consultancies and education providers that have come (and gone already in many cases), we didn’t start out with fundraising as a key priority. It still isn’t.
We are indeed living in an age where anybody with an internet connection has access to more information than the POTUS had just 15 years ago.
Without the right people driving innovation, there is a high likelihood that your innovation efforts will come to a standstill.
Fear of failure is often referred to as the number one enemy of creativity.
As more large companies begin to embark upon audacious transformation plans and set up innovation teams, more corporate professionals are being introduced to a world in which terms like design thinking, lean, agile, pivot, experiment, fail, adapt and so on are used almost interchangeably.
City West Water is a wholly Government owned retail water business operating throughout inner and western Melbourne.
A recent research report prepared by Commonwealth Bank, appropriately titled “Jobs and Skills of the Future Report”, outlines the new types of jobs that will be created in Australia.
Australia is currently ranked number 23 on the Global Innovation Index 2017.
It’s no secret that large, publicly listed organisations struggle to successfully explore innovation due to the short-term interests of their investors.
Coined by Professor Henry Chesbrough, Open Innovation is about creating inflows of knowledge from the external environment and outflows of knowledge to the ecosystem through collaboration. In this article, we compare open innovation and closed innovation, review examples of companies using this platform and analyse the advantages and disadvantages. Here are four ways that your organisation can leverage OI to boost your success rate.
Singapore is currently ranked as the sixth most innovative country in the world and it is home to some of the biggest corporate innovation programs.
Everyone wants to come up with the next Uber or AirBnB but not everyone knows the best way to get there.
We hear it all the time from corporate innovation teams.
Far too often I’ve sat in brainstorming sessions where ideas died a slow death afterwards. Ideas alone are not innovation; without a process of evaluation, selection and execution, they remain mere ideas.
It’s crazy to think that 88% of the Fortune 500 firms that existed in 1955 are gone. These companies have either gone bankrupt, merged, or still exist but have fallen from the top Fortune 500 companies. Most of the companies on the list in 1955 are unrecognizable, forgotten companies today.
“Innovation” is no longer a buzzword but a critical success factor for organisations seeking to survive and thrive into the future. Corporate innovation in particular has started to enter the everyday lexicon of boardrooms and the emergence of innovation managers and departments is increasingly common.
Imagine that by now you’ve held your successful ideation session, generated a bucket load of ideas and created a shortlist of the top ideas that are going to solve the innovation woes of your organisation. Well done, you. What’s next?
Design thinking is starting to gain traction in many large organisations. It is being recognised as a powerful way to drive innovation and subsequently companies are upskilling their employees on the methodology.
Here are five stories of companies that know how to surprise and delight their customers.
The startup activity in Southeast Asia is currently booming with deals on track to hit record numbers in 2017. Over 500 deals are expected by the end of this year, following an impressive 2016 that resulted in 347 deals.
The average company lifespan continues to drop. In the mid 20th century the average company lifespan was more than 60 years and this stands at just 15 years today. This is expected to fall further to 10 years by the year 2025.
Winning buy-in from senior and middle management for corporate innovation initiatives is one of the biggest challenges intrapreneurs face. Oftentimes, intrapreneurs resort to presentations and meetings with executives in an effort to convince them why they should explore new initiatives. Sometimes this works. Most times it doesn’t. Such pursuits fall flat because the recipients have an inherent lack of incentive to explore innovation, a preconceived notion that innovation is risky and expensive and ultimately, don’t understand or connect with the proposition.
When it comes to corporate innovation, there are indeed no silver bullets. The best way to figure what works for your organisation is to take small bets across a number of initiatives, as one would when building a new product using the lean startup philosophy.
Fail fast and often is a rhetoric we are no doubt used to hearing, and perhaps have come slightly sick of - like anything that is repeated too often. And perhaps that has to do with the fact that such narrative isn’t actionable.
I’ve been using virtual assistants for several years. Today, virtual assistants are a big part of the reason why I can maintain what people consider a very high output (in the past two years - in addition to running an innovation consultancy - I founded a children’s entrepreneurship program, published two books, launched a podcast that as of writing is 187 episodes strong and still maintain a solid social life, daily fitness routine, have ample time to learn and maintain interests outside of work - my team will tell you I’m rarely in the office past 7pm and rarely work weekends).
More often than not, senior management and the C-suite assume that exploring disruptive innovation is incredibly risky, and it is. It’s often a key bugbear to getting senior management buy-in for corporate innovation initiatives.
When it comes to corporate innovation, it’s easy to focus on metrics such as ideas captured by an idea challenge, the number of prototypes developed or experiments run. But with most corporate innovation initiatives quickly degenerating into theatre, failure rates are running high (eg. 80-90% of innovation labs fail). Such failures ultimately lead to senior stakeholders withdrawing their support while intrapreneurs become increasingly dissatisfied and leave the organisation to seek out greener, more innovative pastures elsewhere.
In this post I’ve unpacked 36 cognitive biases that can stifle your innovation efforts, how they might apply to the field and a proposed solution or mitigant for each. If you’ve got some alternative mitigants to address these biases, I’d love to hear from you in the comments.
Disruptive ideas usually don’t see light of day at large companies. And when they do, it’s not for long. If an idea falls under the banner of Horizon 1 innovation, then congratulations - most large companies are already built for this and a business case is an almost perfect vehicle for it. But if an idea proposed by an employee meets this definition of disruptive innovation, then it needs an alternative approach.
Singapore is fast growing into an innovation powerhouse. There are ten organisations that are running innovation programs in Singapore that you need to know about.
Struggling to get sell your innovation idea to management? Developing a pitch is an effective way to communicate your idea and all the details underpinning it.
The highest quality solutions come from valuable insights into human behaviour. However, learning to recognise those insights is harder than you think. Here are three techniques, that when applied correctly, can uncover customer insights that you would never have thought existed.
Leaders are realising the importance of culture in enabling innovation but at the same time innovation blockers are still prevalent within organisations. Here are five key factors blocking corporates from innovating.
Design Thinking is a buzz phrase that has been thrown around companies for many years now. But how is Design Thinking any different from the way companies have always approached problem solving?
When it comes to corporate innovation, organisations can embark upon a number of different programs, based on their objectives, their current capacities and whether they want to innovate internally, externally or take a hybrid approach. Organisation are spinning off companies for a number of reasons. Find some high profile examples inside.
“That which can be measured can be managed.” As such, 20th Century management science gave us a number of metrics to monitor the performance of a business venture, including return on investment (ROI), net present value (NPV) and internal rate of return (IRR).
While we can sometimes get away with online customer testing testing, we often have to face up to the much more socially confronting task of interrupting strangers simply going on about their business on the street, which is no easy feat to say the least.
Our top ten podcasts on corporate innovation and entrepreneurship.
Managers are incentivised to deliver on an existing, repeatable business model, not to help discover new ones. So how do we incentivise them to innovate without sacrificing the core business model which is, after all, where we make money today?
Innovation has become the definitive buzzword throughout large companies across the globe. More often than not though when executives encourage the masses to ‘go forward, be bold and innovate’, it often amounts to nothing more than lip service
Here are ten of the top corporate innovation labs in Singapore.
Check out this infographic that provides an overview of this popular approach to problem solving.
Get your team together (ideally between four to eight people) and start brainstorming by applying the following five tips to increase the likelihood of a successful outcome.
Why are innovation programs being abandoned and how can companies that are actually investing in innovation increase the return on innovation investment? Here are eight essential elements that will help stop your innovation programs from failing.
While there’s much talk emanating out of Silicon Valley nowadays that “pivot is the new fail”, when the term first gained popularity off the back of the lean startup movement in the early 2010s it effectively meant making a fundamental shift in your business model, based on customer learnings, towards one that is designed to bring you closer to product market fit.
Corporate startup partnerships represent a massive clash of cultures. There are countless platforms that corporates can leverage to connect with startups such as Crunchbase, Angelist, Startup List and Gust. Add to this meet-ups, pitch nights, conferences, blogs and social media all making it easier than ever to identify and connect with startups doing compelling things in your industry or adjacent industries. What’s really lacking is a roadmap on how to work with startups.
It’s easy for us to get sucked into the matrix and grind out work, day after day, and look around at our colleagues all doing the same thing and assume that ‘this is the way it’s supposed to be’ without really ever taking the time to reflect on what we really want and whether or not we’re truly happy and fulfilled in our work.
When it comes to corporate innovation programs there’s a number of different structures that large organisations can adopt, however knowing which one to adopt can be a challenge, and oftentimes executives find themselves chasing after shiny metal objectives such as innovation labs where strategic alignment can often become an afterthought.
Large organisations are engaging startups in growing numbers, due in part to a realisation that companies have not been built to respond to the accelerating pace of change in a timely manner, and that short of restructuring the entire organisation from the ground up, partnering with startups who are unencumbered by bureaucracy, short-term shareholder demands and employee incentives, is an easier way to tap into emerging technologies, business models and talent.
When it comes to innovation and entrepreneurship, a number of core qualities or attributes are fundamental to success, which are best encapsulated by the following four Ps.
A recent World Economic Forum report has built on this and found that 65% of children entering primary school today will end up working in completely new job types that don’t exist yet.
One of Australia’s long running broadcast networks, TEN, went into voluntary administration recently after reporting a $232 million loss. This is yet another sobering reminder that the once mighty will fall unless they begin to challenge their existing business models, despite the fact that it’s where they make all of their money today.
Large corporations can have what seems to startup founders to be vast amounts of resources - more than they know what to do with (this can often be the case where companies elect to pay out huge dividends instead of investing in R&D). So why don’t large companies with millions and sometimes billions of dollars in capital reserves come out with the next big thing, the next UBER or the next Xero?
Over the last six months I have identified three personal growth hacks that everyone should be aware of. The great thing is you can action these straight away!
Given the lack of time and resources across organisations, customer experience often drops down the priority list. The following five step guide has been put together for time conscious corporates that are looking to put a stronger focus on customer experience.
A roadmap to effectively partnering with startups.
Falling into the trap of what Steve Blank calls ‘innovation theatre’ and applying band-aid solutions usually leads to frustration and waste. Here are some of the most common forms of corporate innovation theatre that your company is probably singing and dancing about.
URWork, one of Asia's largest co-working space operators with a valuation of more than US$1B, is set to open its first operation out of China in Singapore.
In order to get the most out of a corporate hackathon and generate some quick wins that organisers and innovation champions will be able to use to build a case for subsequent initiatives and further development of ideas, taking the time to consider and prepare the following 12 things can make a world of difference.
There are countless tools we use with clients to build fast, learn fast and measure fast in order to determine what will ‘wow’ customers enough to extend or generate new lines of revenue and remain a competitive force well into the future.
14 tools to support your team's corporate innovation efforts.
Like me, his parents had migrated to Australia in the 70s from the then socialist Yugoslavia, in search of a better life. As such, his parents had instilled beliefs around the value of education and hard work in young Tommy.
It’s been well documented by the likes of Steve Blank and Clayton Christensen that if you want explore disruptive innovation in a large company, you have to either redesign or create parallel processes, systems and values internally in order up to support behaviours critical to innovation
Design Thinking is just one piece of the corporate innovation puzzle and it alone is never enough.
Often conducted annually, employee performance reviews generally have a negative stigma attached to them (specifically at large organisations). Unfortunately, there isn’t a one size fits all solution but there are several underlying principles that every organisation should follow.
Lawrence Levy was CFO of Pixar from Toy Story through to Monsters Inc. Uncover 10 key insights on corporate innovation and culture change.
The story of a 3M researcher, $99 purchase orders and a $60B empire.
It is no coincidence that the most innovative brands in the world are also leading the way in customer experience.
Innovation labs are popping up all over the world. A recent report noted that 88 innovation labs opened their doors globally...
Flow Research Collective's Jamie Wheal discusses why creativity is more than a skill.
The role that Government should play in fostering entrepreneurship.
Corporate legal and compliance (L&C) teams can enable corporate innovation.
Last week I had the pleasure of attending Startup Bootcamp’s Fintech Demo Day in London.
The Mills Oakley Accelerator has been established to commercialise legaltech.
Lessons from the Vietnam War on the one thing that differentiates successful entrepreneurs
We were lucky enough at Collective Campus to host Minister Dalidakis as he visited several of Melbourne’s hotbeds of innovation and entrepreneurship.
What not to do when it comes to innovation and new product development.
Overview of emerging medtech and the implications of a longer lifespan on our lives,
The Australian Government could be doing more for innovation.
Legal services are delivered is changing due to technology and business model innovation.
Do you have what it takes to be a great Innovation Manager?
Many large organisations are guilty of taking old, oftentimes broken, processes born out of 20th Century necessity and digitising them. Such pursuits are internally heralded asshiningexample of innovation and digital transformation. However, this usually amounts to little more than expensive and at best incremental improvements.
Busting the biggest corporate innovation myths and some tips to counter these common lies
Whether a company has a hundred, a thousand or one hundred thousand employees, it has access to an untapped resource of unique, diverse and broad perspectives and insights that employees of these companies don’t share effectively.
In an age where the time between disruptions is getting shorter and the exponential growth of technology threatens the upheaval of almost every industry, certainty is fast becoming a distant memory. Yet, when it comes to deciding which projects to invest in at most large organisations, we often rely on projections and estimates based on assumptions about the same uncertain future. Think of this as the Innovator’s Funding Dilemma, encapsulated by these five common pitfalls of funding corporate innovation projects.
"If you come back here in a year how will you determine whether or not we’ve been successful?”
For emerging businesses, startups and new corporate ventures, there is a tendency to optimise the wrong thing.
Mills Oakley is launching Asia-Pacific's first Legal Startup accelerator.
The disruptive innovation theory, penned in 1997 by Clayton Christensen in his seminal work The Innovator’s Dilemma, describes a process by which a product takes root in simple applications at the bottom of a small market and moves upmarket, eventually displacing industry incumbents.
The team at Lemonade Stand are proud to announce that we have successfully secured $100,000 as part of LaunchVic's $6.5m first round of funding allocations.
I had the pleasure of interviewing Whitney Johnson, author of Disrupt Yourself, and formerly co-founder of Rose Park Advisors alongside Clayton Christensen, way back when in episode #13 of Future Squared.
Our podcast has just turned 50! To celebrate, we've listed out 50 of the most important and memorable lessons about innovation.
We're super pleased to announce Collective Campus has been selected to join the panel of the Digital Transformation Office.
Did you hear about the manager who always shot the messenger whenever they brought bad news? He eventually stopped hearing bad news.
Ask good questions and you get good answers. Ask the wrong questions, or worse still, don't ask questions at all, and you're essentially driving blind with no sense of direction.
When it comes to early stage innovation, we can’t rely on metrics such as ROI or NPV to determine success, particularly given that such metrics favour short term returns whereas disruptive innovation can take years to deliver the kind of returns that large companies are seeking.
Most of us are familiar with Maslow’s Hierarchy of Needs. The theory on psychological health is now almost 70 years purpose rather than just profit, in stark contrast to prior generations, a testament to having already met their other needs.
15 key characteristics to look for when it comes to identifying intrapreneurs.
A case study in what not to do when it comes to customer experience and why the door is wide open for insurance startups looking to disrupt the space by offering significantly better customer service.
If you’re not willing to fail, then you will only ever embark upon safe, incremental improvements, where you have all the answers and therefore can’t fail.
Large organisations are beginning to invest in innovation - usually this takes the form of idea contests, hackathons, incubation programs and intrapreneur programs.
I was inspired to write this thought piece by a tifo, or banner to the football layman, which put forward the idea that 'success cannot exist without passion', something which is just as relevant for the team's coach Tony Popovic, who was immortalised on the banner, as it is for innovation and entrepreneurship.
There are a number of all too common mistakes that teams make when it comes to corporate innovation programs.
Flow has been defined as a mental state of operation in which a person performing an activity is fully immersed in a feeling of energized focus.
In my most recent podcast interview with Steve Blank, credited with developing the customer development methodology which birthed the lean startup, we touched on the topic of how the corporate culture inhibits innovation.
Half of the S&P500 will be replaced over the next 10 years at current rates of churn. 187 companies in the list today first entered it in the past 10 years alone
Could a company outsource prototyping for a new idea completely and let a third-party organisation do all the testing and market validation?
Collective Campus walked the team through an intensive 2-day SCRUM bootcamp in which they learned agile principles in addition to techniques related to as Scrum practices, requirements, project initiation, estimation and prioritisation, sprint planning, executing sprints, re-planning, closing a scrum sprint and closing a project.
So many things get in the way of the artistic process, whether writing music, painting or creating new products and business models.
Introducing The Innovation Manager's Handbook - a comprehensive guide to innovating in the enterprise.
Established companies have been built to deliver, not to discover. So how do we build a culture that supports ideation and experimentation?
Check out the video to hear how it went when we taught one of Australia's largest bookmakers how to use the lean startup methodology.
I recently caught up with Kmart Australia’s innovation program manager, Fabio Oliveira, on my podcast for a discussion on innovation in retail and what the ‘store of the future’ might look like.
The perfect prototype is the one that’s imperfect. Time and time again, new founders will make excuses like, it's not ready yet”, or “I just want to add a few more things to it” to explain why they haven’t launched their prototype yet. This mentality has slowly suffocated many-a startup.
General Electric, with $493B in assets and 200,000 employees is applying lean startup.
Design thinking is a mindset that empowers children with the ability to think creatively.
Rushing to fill awkward silences is a recipe for disaster when it comes to our brainstorming and innovation efforts.
We’ve come a long way from the humble suggestion box and top down decision making long synonymous with corporate innovation. Today, more and more companies are sourcing ideas from not only the entire workforce but also getting outside their building and engaging partners, customers and members of the general public.
At our recent 48 Hour Lean Startup workshop I helped guide an optometrist with no idea what he wanted to work on to a gamechanging concept in under 5 minutes.
A combination of values, processes, systems and resource allocation procedures prevent Government from adopting the behaviours and mindsets required to effectively support innovation.
The risk of taking few large safe bets in today’s environment far outweighs that of taking many small risky bets.
Regulation is often used as a scapegoat for a company’s decision not to truly embrace an innovation agenda and the practices that support it. But how does one experiment when a corporate watchdog is breathing down your neck and watching your every move?
Collective Campus had the pleasure of hosting a panel talk recently with Stile Education on the future of K-12 education entitled ‘Getting Students Future Ready’.
Hackathons are a great way to bring together teams with the goal of quickly identifying and solving problems.
If you're a student currently in university or a working professional looking to study masters, it's time for a reality check
As disruptive technology takes over, kids need to learn how to adapt and be empowered by skills that will prepare them for the future
Our recent Lemonade Stand program Lemonade Stand brought kids together to develop their entrepreneurial mindset and capabilities.
Explore the challenges organisations face in acquiring startups and how to deal with them.
Hackathons (or innovation bootcamps) are a great way to bring together teams with the common goal of quickly solving problems, building prototypes and validating market appetite. This not only helps teams test many ideas quickly to find out what works but also saves them by avoiding the trap of committing millions to building the wrong thing.
Large organisations apply the same metrics and evaluation criteria on potentially disruptive, risky, ‘out of the box’ innovation as they do for incremental improvements and business as usual investment decisions. Clearly this makes no sense.
Corporate innovation programs are growing in popularity as more and more industry incumbents come face to face with the realities posed by disruptive innovators. However this means a new set of problems arising. In this article, we cover examples of innovative solutions to these problems.
One of the biggest mistakes is for companies to believe enterprise innovation is a top-down phenomenon, where managers (or a small team) come up with solutions, and push changes down the organisation. While managers have a significant role in innovation and change within an organisation, employees should be the primary drivers of change.
I had the pleasure of attending and speaking at IBM’s annual A/NZ Partner Symposium at Luna Park in Sydney yesterday where the hot topics of innovation, disruption, transformation and startup agility were central to the day’s discussions.
More and more companies that were once small and built their reputation on disruptive innovations, are now big, and have other priorities.
In an age where a firm’s innovation strategy can make or break the company, it’s more important than ever for companies to define what it means to innovate. In this article, we cover the strategies and models for business innovation strategy, along with examples.
We’ve been working on our own Lemonade Stand program at Collective Campus, which will be rolled out these summer holidays for children from Grades 5 & 6through to Years 7-10. The program aims to instill business fundamentals, the innovator’s mindset and innovation practices such as human centred design and lean startup into the psyche of today’s youth.
How do you go about finding and hiring such applicants when your company insists on candidates meeting criteria such as being a certified accountant which tends not to lend itself to right-brained, creative thinking.
Exploring disruptive innovation is anything but procedure, certainty, safety and achieving quarterly KPIs. Your ability to gain management buy in has numerous advantages. In this article we cover the examples, process, opportunities and how to gain funding.
Here are 3 reasons why investing your budget into data and advertisements is better for your business.
Here are five ways your marketing is outdated, and why Mad Men style advertising won’t work as well in a modern day marketing strategy.
Collective Campus recently held its first Lean Startup Short Course. The course, held for 20 hours over four weeks, brought together seven budding entrepreneurs and exposed them to the world of build, measure and learn.
With 65% of the Australian economy facing significant disruption, it’s predominantly a case of out with the old and in with the new. And it’s paving the way for disruptive education models and startups. In this article we cover disruptive innovation in higher education and disruptive learning solutions.
Myki, Victoria’s now three-year old public transport ticketing system has been the subject of public abuse and endless scrutiny since its roll out in 2013. This brings us to the question of human-centered design, or lack thereof, as it applies to Myki’s design and development. In this article we cover the principles and thinking required to impact positive change.
Large companies faced with the imminent threat of disruption posed by technologies such as cloud and mobile are having to reassess their place in the business landscape. Corporates need to figure out how to stay relevant not just in today’s ultra-competitive environment but also well into the future, to avoid having their bottom lines wither away.
The health insurance industry is facing significant disruption on a number of fronts. If any industry is in need of applying emergent strategy to its product development methods, it’s health insurance.
Leaders of large companies are coming under more intense scrutiny and pressure to drive innovation within their organizations, in order to avoid being disrupted by smaller, more nimble competitors. This article covers the how to create a idea submission form & template and facilitate idea submission contests.
Henry Ford’s famous quote serves as a battle cry to many a visionary entrepreneur
Disruption is something we often associate with start-ups these days. But… what happens when corporates learn to innovate?
Many organisations stifle the very innovation that they seek through ingrained habits that block creativity and risk-taking. Here are 10 habits that choke disruption and kill innovation.
Here are 10 products that would not have seen the light of day, had it not been the result of multiples failures, human error or serendipity.
VideoRentalz fearlessly faces the future, secure in its ability to keep families together.
The sign of a healthy innovation culture is one in which its people feel comfortable sharing their ideas, opinions and criticisms, without fear of retribution.