Innovation is easily the buzzword for companies. If they dont know it, then they are out of business.
We know many interesting stories of how things were invented by accident. Greg Satell in 'Mapping Innovation: A Playbook for Navigating a Disruptive Age' shows how innovation takes a village and more and dispels the myth of lone genius accomplishing it all. He traverses the path penicillin took to discovery from labs to the pharma industry. The author provides the reader, a foundation and conditions that were necessary for the famous inventions. From this he draws what can be used for current situation.
The provided framework is a Matrix of 'Problem Definition' Vs 'Domain Definition' which shows you clearly where your company fits and the kind of innovation it should be targeting. Depending on the kind of innovation you need disruptive, sustaining, breakthrough - there are various options of achieving them. Just this matrix should reveal if your approach to innovation is right for your company and the industry you belong to.
I loved the example of Experian and their Innovation Matrix which explains how Eric Haller made problem solving for customers, rocket into consulting business which feedsback into Experian's capabilities and growth.
With examples like Afisha, Experian and Children's Health, Gregg illuminates how companies can modify their business models to inject organic growth.
Its back to the basics with Business Model Canvas by Osterwalder and Michael Porter's Five Forces Analysis
Three Horizons of Innovation with 70/20/10 lets you have all kinds of innovation instead of having to chose one by allotting time and resources for each. if you are familiar with Googles 20% for your pet project, then you get the drift.
P&G innovation matrix is a surprise with 'open innovation'. IBM and Microsoft examples show the advantages of courting 'open'.
With this orientation, you are well on your way to figure what works for innovation at your company.
