Innovation Best Practices
- Visible sponsorship by senior executives,
- Diversity within teams and across the initiative,
- Cross-business participation,
- Latitude granted to the innovators and acceptance of the risks of potential failure,
- Provision of adequate time and resources to support the innovation initiative, and
- Idea sharing.
Asking customers for feedback is good, but observing them is often much more productive. If you want to gain a march on the competition and design the products and services of the future, watch your customers carefully. Look for the areas of unexpected use, the headaches and problems that are begging to be solved or the unusual combinations of needs or uses. They can give you the insights you need to generate successful innovations in products, services and processes.