How uninformed decision-making can be dangerous for your Business? G.McLaughlin, M. Jacknis
December 01, 2018
In today’s business world, critical/strategic decisions are failing at crisis proportions. In 2015, according to the US Census Bureau, 400,000 businesses were created, and approximately 470,000 firms failed. The economic, social and competitive implications of this epidemic are profound for individuals, families, communities, and stakeholders alike (a direct/indirect job loss of 5-7 million employees). Research from Ohio State University indicates that as many as 235,000 companies may have unnecessarily ceased operations This same research uncovered that up to 50 percent of companies that failed, did so because of a significant flawed critical decision (Nutt, 2015). Flawed critical decision-making spans every size and type of business. To better understand these implications, consider the classic example of Eastman Kodak:
Tags: Design Thinking, Marketing
Surveys – Are You Getting Your Money’s Worth?
August 22, 2016
Do your surveys give you valid results and actionable insights?
Do your surveys give you insightful information, clear recommended actions, that maximize your return on your investment?
Tags: Design Thinking, Innovation, Marketing
How to prevent 10 Major Survey Mistakes
July 04, 2016
Surveys gather key information about the perceptions, beliefs, and attitudes. These become more critical as businesses search for ways to gain competitive advantage. Unlike Analytics which examines patterns in human purchasing behavior, surveys attempt to capture what an individual is thinking, feeling, or believing. Surveys play a valuable role in collecting information about the individual and seem simple to construct and execute. In reality, survey design and development requires knowledge, experience, and an innate sense of how people think and reason. Yet, people design surveys every day and often receive little or no valuable information from these surveys. Here are 10 Main Survey Flaws (derived from experience):
Tags: Design Thinking, Management
Incremental Innovation - A strategy for Success
September 27, 2015
Incremental Innovation is a process that delivers sustained successful outcomes over the long-run. Incremental innovation differs from more traditional methods in that involves a holistic approach to creating an environment conducive to innovation. It begins with a unsatisfied need that provides value to the organization. It moves quickly to an assessment/diagnostic phase that identifies potential (and future) opportunities. Once complete, a strategy is developed or modified from the IPS (Innovation Processes and Solutions) Library (over 27 unique innovation strategies) and applied. A variation of the N2OVATE methodology guides (manages) the project selection and project implementation phases. The result is a value-added outcome.
Tags: Innovation, Change Management
July 01, 2015
Innovation Pioneers are needed in most business and professional organizations. An innovation pioneer is a person who searches and finds innovation opportunities based on existing or predictive needs. Think of Dyson vacuums, created because standard vacuum lacked suction. The need initiates the innovation. Yet, it is not only the need but the ability to sustain the innovation that truly identifies a product, service, or technology as innovative.