November 30, 2010

The Five Keys to Innovation

This is an oldie-but-goodie. While looking through some of the articles I have saved, I came across this paper written by professors from Harvard Business School, Insead and Brigham Young University.

Based on their six-year study, they identified five key characteristics that drive innovation:

Associating: The ability to connect seemingly unrelated questions, problems or ideas from different fields.

Innovators constantly ask questions that challenge the common wisdom. They ask "why?", "why not?" and "what if?"

Discovery-driven executives scrutinize common phenomena, particularly the behavior of potential customers.

Innovative entrepreneurs actively try out new ideas by creating prototypes and launching pilots.

innovators go out of their way to meet people with different ideas and perspectives.

The Innovator's DNA is available in more detail on HBR and CNN