The term “innovation” gets bandied about a lot these days. For organizations to truly benefit from their innovation initiatives, they first must understand what exactly it is—and what it is not. It has been my humble pleasure to work with a number of outstanding luminaries in judging the MIX’s most...
Today, we’re delighted to announce the ten winners of the Innovating Innovation Challenge, the first leg of this year’s HBR/McKinsey M-Prize for Management Innovation. But first, we’d like to acknowledge, again, the 24 finalists , whose superb stories and hacks made for some wrenching decision making. A huge thank you to all of the challengers with the imagination and daring to take on the status quo—and the generosity to share what they’ve learned in the process.
In the creative economy, innovation is more important than ever. Innovation is the only insurance against irrelevance. It’s the only antidote to margin-crushing competition, the only hope for out-performing a dismal economy, and the only way to truly amaze your customers. Innovation—in operations, products, business models and ecosystems—isn’t merely a competitive advantage, it’s the competitive advantage.
As human beings, we are born with a creative impulse—with an innate desire to use our imagination to better the world around us. Yet, all too often, our organizations end up being less innovative than the people within them. The dozens of in-the-trenches innovators who responded to our Innovating Innovation Challenge embody the first assertion—and are working relentlessly and fearlessly to overturn the second.
When we launched the Harvard Business Review/McKinsey M-Prize for Management Innovation last year, our goal was to surface the world’s most amazing management practices, and to highly those individuals around the world who are reinventing “the technology of human accomplishment.”