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Lesson #4: Use the Competition to your Advantage
Two heads are better than one, or so the saying goes. While many CEOs choose to keep all their company secrets closely guarded for fear of losing ground to the competition, Hewlett and Packard were of another opinion. They believed that in some cases, collaboration can actually be better than competition – for everyone involved.

Other company innovation Related Articles

20 Tips To Initiate & Inspire Innovation From Your Strategic Thinking Business Coach
The word innovation appears frequently in advertisements, positioning statements, branding, marketing, mission statements and is used by most businesses and organizations in some fashion or form. But the question is how many businesses and organizations really make innovation a top priority? And how many businesses and organizations are truly good at innovation? One recent AMA/HRI study found that although most organizations say that innovation is a top priority, few companies are actually good at it. So, with that in mind, Your Strategic Thinking Business Coach offers the following list of twenty (20) tips to inspire and initiate innovation for you and your business.

The Innovation Process - From Vision to Reality
Innovation is a collaborative process through which organizations abandon old paradigms and make significant advances. Innovative ideas come from several sources, including: unreasonable demands, goals and time pressures. An organization must cultivate innovation and link it to their business improvement strategies to realize benefit from innovation.
Top 10 Ways to Build Creativity in the Workplace
Without creativity in the workplace, there would be no innovation. Without innovation, there would be no world-changing products, or business-building ideas. But have you ever wondered how to become a more creative company? This article will give you the 10 things a company needs to do in order to build creativity in the workplace...and start building a business legacy.
The Integration of Innovation and Marketing Best Practices for Business Excellence Part1
During an economic down turn marketing and particularly funds for innovation and growth are amongst those hardest hit. As new, profitable innovations are owned by marketing, whilst their financing comes from the ability for the current business to generate profits, there is an intimate link between marketing and innovation. Considering current business and innovation as distinct silos, managed in different ways by separate functions, may mean that the organization is missing a significant opportunity to maximize the skills, knowledge, resources and networks of the organization. Innovation Expert, Kevin Weir and Marketing Excellence Practitioner, Phil Allen explore how companies can keep their marketing and innovation machines turning even in tough times by taking a more integrated approach to innovation and marketing.
Operational Innovation
There is an opportunity for almost every company to gain advantage through operational innovation. Operational innovation simply means identify key business processes and innovating in them to achieve faster throughput, or to provide some new convenience or wow factor customers, or to bring cost of offerings down in a dramatic fashion.This article explains operational innovation with help of an example.
Open Innovation
For smaller companies particularly, the resources inside the company might be too small to allow real innovation to flourish. The principle behind Open Innovation is that you can partner with others to exploit greater thinking power ... and you can exploit the intellectual property of others. So if you can work with others to mutual advantage (perhaps many others ... and hence the term 'crowdsourcing') why would you not?
4 Ways We Kill Innovation
Yet when we separate innovation from our core business, set it apart as a unique process or proposition - we position innovation as "outside" our core business. We make innovation the exception rather than the rule, treat it as a point in time exercise rather than an integral part of the way we operate on a daily basis. Only when we embrace innovation as a conscious and continuous part of our daily actions can we reap the will rewards of innovation.
Education + Infrastructure + Innovation
We're not certain if President Obama borrowed the ideas -- education, infrastructure, innovation - -from others or came up with his own hook for his state of the union speech but he did lay down the gauntlet. We do know government officials around the globe has laid down the challenge of innovation for their citizens. Every Csuite executive has told his/her stakeholders that the company will innovate and be competitive leaders. We'll talk about a lot of innovations before we get one that works. And innovation is going to take a long time to have a positive impact so let's not abandon it too soon.

Customer Intimacy and Empathy are Keys to Innovation
Just because a company is spending money on research (such as markets, customers, or new technologies) and development doesn't mean they will get innovation. Innovation, as with advertising, training, or many other organization investments, depends on the quality of the investment as much as the quantity of resources put in it. A high proportion of innovative new products, services, and companies flop.

Ideas and Innovation-The Engine and the Fuel of Entrepreneurship
Ideas and innovation are essential building blocks for a successful entrepreneurial or business start-up. Ideas are the engins and innovation the fuel. Capture seven ways you and your organization can encourage more and better ideas and innovation.

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