Future of Innovation Main Page

Team Members

Sonal Gilani
Sally Henderson
Eghe Saliu-Lawal
Alexandra Ursu
Jia Rong Wu

Focal Question

• The future of Company Innovation in 2030

Interview Questions

Interview Questions reference page

Research Questions

1. Sonal - What are the types of innovation?
2. Rosy - What are the major obstacles to innovation in a company
3. Rosy - How do compliances and regulations affect innovation
4. How failure in innovation affect the future of innovation in a company
5. Sonal - What generates innovation in different industries
6. What are advantages and disadvantages of open sourcing/ open innovation
7. Eghe - Close Innovation - advantages and disadvantages
8. Sonal - What are current business models most successful in fostering innovation
9. What are emerging trends in big companies regarding next generation innovation models
10.Sally - To what extent do countries prioritize innovation in their national agenda?
11.Sally - How will the current crises move the innovation trends?
12. Sally - What triggers the step change in innovation process in companies
13. Alex - How are the collaborative tool influencing innovation today?
14. Alex - How is corporate leadership shaping innovation
15. Alex- How is innovation being done in Japan
16. Eghe - How are the emerging markets conducting innovation
17. Eghe - To what extent are the developed conutries supporting the innovation in the emerging economies
18. Sally - To what extent are the companies employing people based on their potential for creativity
19. Sonal - What are the barriers for companies to adopt susitanability in the corporate strategy
20. Eghe - Is innovation as expensive as it is stated to be 21. Rosy- Will customer willing to pay higher price or lower price for innovative product?
22. Rosy- Which types of projects/business future entrepreneurs will do?
23. Rosy- What % of investment will EU and government raise?
24. Rosy- Which innovations will be main stream in corporate innovation?
25. Rosy- What extend will open source develop to?
26. Rosy- What impact will generate from most innovative corporations??

Driving Forces

People's mindset
Increasing need for sustainable development
Increasing standard of living
Increasing use of innovation for competitive advantage
Increasing space for creativity to thrive
Sociality and Digital Lifestyles
Changing Leadership Styles
Climate Change Pressures
Globalization driving innovation

Scenario Tree

1. Will companies be able to overcome social hurdles, nuture employee dynamics and built organisational capability to drive effective innovation in the company? (yes/no)

2. Will emerging markets be the tipping point of geo-economic innovation centres on the globe? (yes/no)
3. In the open source or free innovation world, how is innovation facilitated? (social media/collaborative)

Scenario 1 - Walled Googles
-

Scenario 2 - Converging groups
- Consumer groups emerge, and have power to push innovation
- Innovation specialist groups converge
Scenario 3
- trend of companies towards open innovation, with open standards and released IP
- competitive companies embrace open innovation and glean competitive advantage through brand or other means

Scenario 4 - Innovation for Global advancement
- climate change, natural resource pressures, massive world population growth and natural distasters push change
- government or world organisations drive systems to allow innovation centres to push innovation for want of world advancement
- collaboration at global or transnational level

Web Sources

http://www.mckinseyquarterly.com/Using_knowledge_brokering_to_improve_business_processes_2512
http://www.pwc.com/us/en/view/fall09/fostering-innovation.jhtml
http://www.tourismexcellence.com.au/Fostering-Innovation/Why-Innovate.html