Driving innovation

There is no evidence that the amount of money invested in innovation yields better creativity. In fact, it is better to innovate with limited resources because you are being effective and efficient at the same time.

You are able to utilize what's available and turn it into...

Not only do financial incentives fail to increase creativity, but experiments also show that they actually reduce it.

Financial incentives have been proven to increase productivity in simple and repetitive tasks. They fall under the category of extrinsic motivation. Howev...

You cannot control where and when ideas will happen. You can only create an environment in which employees and teams will become more creative, and processes for the organization to implement the best ideas.

But this environment needs to exist seven days a week, 24 hours ...

Just as individuals can increase their creativity levels, so can companies:

• Hire more creative people: people who have invested efforts in becoming more creative.
• Create a climate that motivates those individuals (and teams) to be more crea...

Innovation can be achieved by mature, large companies, not only by startups.

While most innovation comes from startup companies, some of the top innovative companies are mature and large (Apple was founded in 1976 and generates $228 billion. Google: 1998, $78 billi...

Creativity is about formulating new original ideas, while innovation is about how those ideas are being incorporated to produce and introduce new, useful, and feasible products, services, processes, or business models by an organization.

Those two are rela...

Innovation initiatives don't need to be implemented throughout the entire organization.

Autonomy and freedom from processes and bureaucracy belong in some areas of the company, but not all of them. Your creative teams, those responsible for developing new ideas, need to b...