If you’re not a subscriber, the Financial Times can hardly be read on the web ; probably 90% of the articles are for subscribers only. Those of us who share a special interest for innovation are all lucky, because ALL of the articles of last fall "Mastering Innovation" report are available for free !So if you’ve missed it, there’s no excuse for not reading it yet…
Let us give you an overview.
Tim Thorne’s article on "The dark side of innovation" (or the traps which prevent companies to deliver on innovation), is a must read. Tim’s company (Edengene) interviewed 62 European large businesses (turnover in excess of £1billion) and his first-hand anecdotes are terrific, and sometimes terrifiyng… and tell a lot about how far we still have to go regarding innovation management. One of the CEO they interviewed said : "My innovative products don’t need a marketing budget – after all, a good idea sells itself" ! Another admitted he had spent £1 BILLION the previous year on acquisitions – with mixed results – but doubted he had spent £1 MILLION on funding new innovations ! Another quote explains why companies focus on incremental innovations : "Everything we do must have a payback within 12 months" !
Donald Sull and Alejandro Ruelas-Gossi ("The art of innovating on a shoestring") will let you discover how a few developing country companies excelled at innovation ; a wise reading for adepts of "technology-push" only.
John Bessant’s article "More than the sum of its parts" is a good introduction to Henry Chesbrough’s concept of "open innovation" ; you will discover why Procter & Gamble uses "Connect and Develop" for what the rest of the world calls "R&D". An article to post on the wall of companies who suffer the NIH syndrom (Not Invented Here).
And finally, from Daniel Muzyka’s article ("The search for opportunity"), a quote from Winston Churchill for companies who still have difficulties tolerating innovation failures : "Success is the ability to go from one failure to another with no loss of enthusiam"…
The "Mastering Innovation" articles can be read at :