Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Posted by: Bruce Nussbaum on November 15, 2005
Roger Martin, Dean of the Rotman School of Management at the University of Toronto, put on an amazingly insightful conference on innovation last week. Some 200 people, nearly all from business with a smattering of design people, turned out to hear the “7 gurus” from the Get Creative cover that I did back in August. The audience was jazzed and the speakers were terrific. Next time Martin throws a conference, go. I learned so much. It was all recorded and as soon as I get the disk, I’ll put it up on the Innovation & Design channel.
Larry Keeley, co-founder and president of the Doblin Group in Chicago, gave a great speech. He said “innovation is beginning to give up its secrets.” He said that today, companies can increase their innovation effectiveness by 35% to 70% or 9 to 17 times the norm. The norm, of course is the incredibly low 4.5% “hit” rate of successful innovation that companies generally have. Keeley said that “if you just use anthropologists, you can triple your innovation effectiveness by three times.” Think of that for a moment. That’s probably why corporations are hiring so many cultural anthropologists.
Keeley argues that companies can maximize their ROI on innovation by orchestrating four or five kinds of innovation at the same time. “Michael Dell uses 8 types of innovation,” Keeley said at the conference. “Google uses 8 separate types of innovation,” he said. Keeley said that Google has gone from no place to first place in four years to become the “most valuable media company.” More on this design and innovation conference later.
Want to stop talking about innovation and learn how to make it work for you? Bruce Nussbaum takes you deep into the latest thinking about innovation and design with daily scoops, provocative perspectives and case studies. Nussbaum is at the center of a global conversation on the growing discipline of innovation and the deepening field of design thinking. Read him to discover what social networking works—and what doesn’t. Discover where service innovation is going and how experience design is shaping up. Learn which schools are graduating the most creative talent and which consulting firms are the hottest. And get his take on what the smartest companies are doing in the U.S., Asia and Europe, far ahead of the pack.