Monthly Archives: April 2011

Wharton and Wipro Innovation Tournament

Knowledge@Wharton, the online research and business analysis journal of the Wharton School of the University of Pennsylvania, along with Wipro Technologies, has identified 15 confirmed finalists for the second global Wipro-Knowledge@Wharton Innovation Tournament. The finalists have proposed bold new ideas and implemented solutions, ranging from using hair to clean up oil spills to using software to track students’ progress. Four subcategories will serve as the final themes: new ideas in the area of sustainability; implemented solutions related to sustainability; new ideas in the area of customer-centric innovation; and implemented customer-centric solutions.

Karl Ulrich, professor and Vice Dean of Innovation at the Wharton School, said, “An innovation tournament begins with a large set of opportunities. The ideas and solutions the finalists are proposing could have, or already have had a major impact on business and society as a whole” he added. Wharton professor Christian Terwiesch agreed, saying, “Sustainability and customer-centric innovation are two of the most important topics of concern today. We’re looking forward to the final presentations and evaluating their potential contribution.” Terwiesch and Ulrich co-authored the book Innovation Tournaments: Creating and Selecting Exceptional Opportunities.

“We are pleased with the range of entries that the tournament received. This year, we had over 160 submissions stretching from all corners of the globe, from America to Tanzania. Forty semifinalists were selected, and now we have drilled down to the most promising submissions,” said Mukul Pandya, Executive Director of Knowledge@Wharton.

Judges from Wipro and Wharton selected finalists based on the novelty, feasibility, track record for established solutions, and overall potential. “Judging the semifinalists was challenging due to the vast number of high-quality entries. We are excited for the final presentations, and believe that society will benefit from the ideas and solutions generated from this year’s Innovation Tournament,” Pandya added.

On Wednesday, April 27th 2011, during a live event at the Wharton School in Philadelphia, USA finalists will conduct presentations before a panel of judges. The event will be streamed live on Wipro TV beginning at 8 a.m. EDT. Five cash prizes will be awarded — $20,000 for the grand prize, and $5,000 for each of four innovation subcategories.

Read more: http://www.benzinga.com/press-releases/11/04/p1032029/wipro-and-wharton-post-innovation-tournament-videos-select-finalists#ixzz1KjOKLn8P

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HP Survey on Innovation

HP has announced new global research that demonstrates the important role that innovation plays in the success of the Enterprise. According to the new study, 98 percent of business and government executives said that innovation will be critical to the success of their organizations over the next five years. When asked about their current views on innovation, 95 percent of CEOs, CFOs and CIOs and their public sector counterparts indicated that innovation is important to the success of their organizations.
The study revealed the importance and measurement of innovation. According to respondents:
— Seventy-nine percent of business executives and their public sector equivalents said innovation is very important to the future growth of their organizations (the most important reason to innovate overall).
— For the private sector, 74 percent of executives said innovation is very important to support their organizations’ profitability (the second most important reason to innovate in this sector), while in the public sector, reputation was the second most important motive for innovation with 59 percent of respondents selecting that option.
— Sixty-five percent of all executives (equally split between sectors) said that their organizations actually measure the success of their innovation initiatives.
— Sixty-eight percent of executives indicated they are a leader in innovation in their industry. CEOs are most confident in their innovation leadership (74 percent), followed by CIOs (67 percent) and then CFOs (63 percent).
CEOs are perceived as most responsible for driving innovation by the 1/3 majority of business executives surveyed. Responsibility for innovation differs in the public sector, with almost a tie between heads of divisions and CIOs.
The study also revealed the goals and barriers to innovation. According to respondents:
— Twenty-nine percent believe that the primary goal of innovation is to meet changing customer or citizen demands; 24 percent feel it is to produce higher quality products and services; while 23 percent voted for increased efficiency. When combined, these goals were selected by more than three-quarters of the executives surveyed and indicate the top three objectives of an Instant-On Enterprise.
— More than three-quarters of the respondents identified limited funding as a challenge to overcome for their organizations to become more innovative. Inadequate technology also was recognized as a key barrier by one out of two CEOs interviewed.
To drive innovation, the first area where business and government executives would invest is in applications and software that enable more flexible processes. In addition, almost two-thirds of all executives strongly agreed that the speed of technology delivery is critical to innovation.

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The Economics of Happiness – is Globalization Retreating?

I cannot wait to see the movie The Economics of Happiness. For a long time I have been a real fan of globalization – and the underlying technology that makes it possible.

However the trailer (see below) of The Economics of Happiness tells a different story – the real desire of the community to go back to the “village atmosphere”, where once again manufacturing was local. And indeed, the economics of this seem to back up this move.

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Thoughts on Innovation Acceleration

I recently shot a short video on innovation acceleration as a thought leadership piece.
I wanted to share this with you.

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Taking on-line Shopping to a new level of Interaction and Personalisation

Have you seen what the telecommunications company 3 is doing with user interaction? Their 3LiveShop offering is a great example of product innovation to deliver an innovative service. Through the new user-experience portal, they are taking the real and the virtual and blending them into an integrated experience.

I feel strongly that today’s on-line purchasing experience will morph in the next few years into this sort of blended approach. The reality is that all of us like face-to-face interaction. While it is true that Telepresence and similar systems give the potential of high-definiteion interaction, applying this interaction in a meaningful experience such as choosing a mobile phone, shopping, or having a product demonstrated makes it very very real. And useful. And time saving. And customer centric.

Watch the video:

3 from B-Reel & B-Reel Films on Vimeo.

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India Lagging in Digital Technology

Maplecroft has today released research figures that shows that of the BRIC nations, India is at ‘extreme risk” with respect to their population becoming stifled by a lack of digital inclusion i.e. the ability for their population to use and access ICT technology. Maplecroft uses 10 indicators to calculate the level of digital inclusion found across 186 countries. These include numbers of mobile cellular and broadband subscriptions; fixed telephone lines; households with a PC and television; internet users and secure internet servers; internet bandwidth; secondary education enrolment; and adult literacy.

Of the BRIC nations, India (39) is the only country to be classified as ‘extreme risk’, meaning that the country’s population suffers from a severe lack of digital inclusion. China (103) Brazil (110) and Russia (134) are rated ‘medium risk’. Despite huge economic growth, the BRICs nations are still significantly outperformed by developed nations in the Digital Inclusion Index. The countries with the best access to ICTs are the Netherlands (186), Denmark (185), Luxembourg (184), Sweden (183) and the UK (182). Trends suggest that the BRICs nations may not lag behind for much longer however.

Read more here.

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Innovation in Mid-Market – a Resurgence

It’s great to see that the enthusiasm for innovation is not just limited to large corporations, but is filtering down into the mid market as well.

A report just released by IBM, Inside the Midmarket:A 2011 Perspective found that in 2009, midsize businesses (53%) were mainly consumed with reducing costs and increasing efficiencies. The progress and momentum gained from these efforts continue to yield critical benefits and advantages for midsize businesses. Because of this momentum, they are now in a position to turn their attention to more forward-looking aspects of their business. This is demonstrated by the significant increase in focus on customers (+20 pts), innovation (+7 pts), and revenue growth (+5 pts).

18% are tapping into new and innovative business processes and models to help them transform into more agile and formidable competitors. With the economy continuing to strengthen, companies are looking for breakthrough innovations and new markets that will drive new revenue streams to carry them into the next decade.

from IBM, Inside the Midmarket:A 2011

You can read the entire report here.

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