The Innovation Engine Community - Innovation Community Ideas

The Innovation Engine Community - Innovation Community Ideas http://community.maddockdouglas.com?src=category_rss The Innovation Engine Community - Innovation Community Ideas Mon, 28 Nov 2011 15:24:58 GMT admin@maddockdouglas.com The Innovation Engine Community 60 The Innovation Engine Community http://community.maddockdouglas.com/brand/witness/community.gif http://community.maddockdouglas.com?src=category_rss Three Types of People to Fire Immediately http://community.maddockdouglas.com/article/90966/Three-Types-of-People-to-Fire-Immediately/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/90966/501a4d8d579923f2-2d2b9c7c-133eabd3710--5e7c-534822395.jpg">Want a more innovative company? Get rid of these folks. Today By G. Michael Maddock and Raphael Louis Vitón We (your authors) teach our children to work hard and never, ever give up. We teach them to be grateful, to be full of wonder, to expect good things to happen, and to search for literal and figurative treasure on every beach, in every room, and in every person. But some day, when the treasure hunt is over, we’ll also teach them to fire people. Why? After working with the most inventive people in the world for two decades, we’ve discovered the value of a certain item in the leadership toolbox: the pink slip. Show of hands: How many of you out there in Innovationland have gotten the “what took you so long?” question from your staff when you finally said goodbye to a teammate who was seemingly always part of problems instead of solutions? We imagine a whole bunch of hands. (Yep, ours went up, too.) These people—and we going to talk about three specific types in a minute—passive-aggressively block innovation from happening and will suck the energy out of any organization. When confronted with any of the following three...<div><a href="http://community.maddockdouglas.com/article/90966/Three-Types-of-People-to-Fire-Immediately/">[Read more]</div> New Products, Services, and Business Models News, Rumors, Gossip, & Trends Innovation Discussion Innovation Community Ideas Future Trends Mon, 28 Nov 2011 15:24:56 GMT Maddock and Viton http://community.maddockdouglas.com/article/90966/Three-Types-of-People-to-Fire-Immediately/#discussion?src=category_rss http://community.maddockdouglas.com/article/90966/Three-Types-of-People-to-Fire-Immediately/?src=category_rss Future Health Care Flash Mob: Micro HMOs http://community.maddockdouglas.com/blog/entry/88137/Future-Health-Care-Flash-Mob-Micro-HMOs/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/88137/501a4d8d579923f2-3be29237-133a3ee8f8d--5e35667291442.jpg">Thinking About How Patients and Providers Can Get Health Care Done Without Any of What We Use Today We’ve all heard about flash mobs. The first one was organized by a guy named Bill Wasik in 2003. He used social media, text messaging and email to organize about a hundred people to gather around an expensive rug on the ninth floor of Macy’s in New York. They told approaching sales and management staff that they all lived together in a warehouse and were choosing a “love rug” for their collective living room. It spawned a movement. Today, you can find hundreds of YouTube videos of crowds dancing, singing, clapping or chanting together for no other apparent reason than they wanted to do it together as a group. The distinguishing features of flash mobs are what they aren’t. Flash mobs are not promotional. They aren’t sponsored. Flash mobs are 100 percent grass-roots driven. They have organizers but no command and control. Participation is optional. They are, by definition, local and assembled for no other purpose than to scratch some collective social itch. They happen and then fade instantly out of public view. Flash mobs are a blueprint for fixing a lot...<div><a href="http://community.maddockdouglas.com/blog/entry/88137/Future-Health-Care-Flash-Mob-Micro-HMOs/">[Read more]</div> New Products, Services, and Business Models Innovation Discussion Healthcare Innovation Community Ideas Serendipity Lounge Tue, 18 Oct 2011 05:54:32 GMT Health Care http://community.maddockdouglas.com/blog/entry/88137/Future-Health-Care-Flash-Mob-Micro-HMOs/#discussion?src=category_rss http://community.maddockdouglas.com/blog/entry/88137/Future-Health-Care-Flash-Mob-Micro-HMOs/?src=category_rss Shift Happens http://community.maddockdouglas.com/article/87564/Shift-Happens/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/87564/501a4d8d579923f2--3f60ec3e-132d8e745b6--2347-1625972255.jpg">Change creates lucrative opportunities for innovators who are willing to listen to consumers By G. Michael Maddock and Raphael Louis Vitón Insurance experts. Travel experts. Legal experts. Now health care experts. What do they have in common? They made the now-predictable mistake of believing they knew better than the consumer: “People will always purchase insurance from agents.” “Who would want to buy their travel tickets online?” “What do you mean, people are price sensitive when it comes to legal advice?” “The doctor knows best.” Worse, they guided the organizations that supported them down a path that led further and further from what consumers really want: a mutually dependent, beneficial relationship. At critical times in history, business sectors go through radical shifts that are driven by economic, political and consumer forces. We see these shifts as positive because they create opportunities for entrants into markets. These entrants often bring with them revolutionary ideas that change things for the better. Shift happens. Shift is good—and for many in health care, shift is about to hit the fan. Last month, we wrote about the timely and necessary death of B2B . People told us they liked the article (thank you) but were quick...<div><a href="http://community.maddockdouglas.com/article/87564/Shift-Happens/">[Read more]</div> Culture of Innovation New Products, Services, and Business Models Innovation Discussion Innovation Community Ideas Future Trends Thu, 06 Oct 2011 12:09:19 GMT Maddock and Viton http://community.maddockdouglas.com/article/87564/Shift-Happens/#discussion?src=category_rss http://community.maddockdouglas.com/article/87564/Shift-Happens/?src=category_rss Interest Groups Awareness of the need for life insurance is flagging, but the industry can take steps... http://community.maddockdouglas.com/article/87510/Interest-Groups-Awareness-of-the-need-for-life-insurance-is-flagging-but-the-industry-can-take-steps.../?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/87510/501a4d8d579923f2--3f60ec3e-132d5680aea-2f0e-156449053.jpg">Interest Groups Awareness of the need for life insurance is flagging, but the industry can take steps to raise its profile. Source: Best's Review (September 2011 Issue) The best-laid plans. The best of intentions. The best minds in the business. And still, a 50-year record low for life insurance ownership in 2010, according to Limra. As insurers acknowledge this September as the 8th annual Life Insurance Awareness Month, it makes sense for the industry to look for missing links inside the dilemma of the "sold, not bought" category. "Missing links" are the things insurers have not considered, the things that are supposedly untouchable, and the things they might not yet know. What's not been considered? The Consumer Need Pecking Order. This is about relevance in the grand scheme of the consumer's life. In modern terms, they are "just not that into you." "Privately, this may be a closed-door conversation or a deep-seated fear of any life insurance executive who is not close to retiring yet. But publicly, it has not really been acknowledged as far as I know," said one life insurance executive. It's always helpful to go back in time, to the late 1700s or so, and consider the...<div><a href="http://community.maddockdouglas.com/article/87510/Interest-Groups-Awareness-of-the-need-for-life-insurance-is-flagging-but-the-industry-can-take-steps.../">[Read more]</div> Culture of Innovation New Products, Services, and Business Models Innovation Discussion Financial Services Innovation Community Ideas Wed, 05 Oct 2011 21:21:20 GMT Maria Umbach http://community.maddockdouglas.com/article/87510/Interest-Groups-Awareness-of-the-need-for-life-insurance-is-flagging-but-the-industry-can-take-steps.../#discussion?src=category_rss http://community.maddockdouglas.com/article/87510/Interest-Groups-Awareness-of-the-need-for-life-insurance-is-flagging-but-the-industry-can-take-steps.../?src=category_rss U5-ia*: Free Speech for Financial Services Professionals http://community.maddockdouglas.com/blog/entry/87209/U5-ia-Free-Speech-for-Financial-Services-Professionals/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/87209/501a4d8d579923f2--3f60ec3e-132b0a330c7--640b-833499658.jpg">*For any of you who are not in the securities field who might be reading this, the U5 is the form that broker dealers use to terminate registered reps. The U.S. Constitution’s Bill of Rights numero uno says that: “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.” But of course this does not really apply to social media for anyone who wants to keep their securities license. While I will NOT say that broker dealers are in any way infringing upon any inalienable rights, FINRA and their interpretation of it sure makes it unattractive to say what you really think to a bunch of people who may be willing to listen. It’s not against the law, but it is just so darn difficult. That’s why March 15, 2010 was my independence day. That is the day I left the world of being a registered rep and principal, and joined a firm that wanted me to think about new ideas, write about them, and...<div><a href="http://community.maddockdouglas.com/blog/entry/87209/U5-ia-Free-Speech-for-Financial-Services-Professionals/">[Read more]</div> Culture of Innovation New Products, Services, and Business Models Innovation Discussion Financial Services Innovation Community Ideas Wed, 28 Sep 2011 15:42:48 GMT Maria Umbach http://community.maddockdouglas.com/blog/entry/87209/U5-ia-Free-Speech-for-Financial-Services-Professionals/#discussion?src=category_rss http://community.maddockdouglas.com/blog/entry/87209/U5-ia-Free-Speech-for-Financial-Services-Professionals/?src=category_rss Innovation: Size Matters http://community.maddockdouglas.com/article/86814/Innovation-Size-Matters/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/86814/501a4d8d579923f2--3f60ec3e-13281c0676b--618908181920.jpg">The best leaders know how to make the most with what they've got. By G. Michael Maddock and Raphael Louis Vitón Ooooh, that is a big idea—a really, really BIG idea. The other guys have ideas, but theirs are soooo small. You better watch out or you may hurt someone with that big thing. And I can see you’re very excited about it too! We know what you are thinking. An article written by guys, who are overly amused by sophomoric humor, making a lame attempt to get your attention and some cheap laughs—right? Well, kinda. We admit to not taking ourselves too seriously, but before you rush to judgment, let us make a simple point that leaders too often miss when it comes to innovation: It is easy to make a big idea small and nearly impossible to make a small idea big. We’ll explain. By making a big idea small, we mean coming up with a complicated game-changing concept and explaining it in a way that people get instantly. For example, in 2009, Hyundai introduced an “Assurance” program that allowed you to return your new car if you got laid off. The result was that while most of...<div><a href="http://community.maddockdouglas.com/article/86814/Innovation-Size-Matters/">[Read more]</div> Culture of Innovation News, Rumors, Gossip, & Trends Innovation Discussion Innovation Community Ideas Future Trends Mon, 19 Sep 2011 14:15:09 GMT Maddock and Viton http://community.maddockdouglas.com/article/86814/Innovation-Size-Matters/#discussion?src=category_rss http://community.maddockdouglas.com/article/86814/Innovation-Size-Matters/?src=category_rss What if Insurance Coverage Worked on Points? http://community.maddockdouglas.com/blog/entry/86602/What-if-Insurance-Coverage-Worked-on-Points/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/86602/501a4d8d579923f2--3c249f62-1326be06dfb--5a901951936691.jpg">OK, I can’t hide this. This article is the 2.0 to the last one I wrote called What if the Insurance Industry Worked on Tips? While that idea was inspired by a Friday night with an industry colleague who had designs on reinventing the compensation system for insurance agents, we still had the rest of the weekend to figure out what the next generation of product would potentially look like. And then it hit us—airlines, credit cards, retailers, etc., work on this “point” thing that has everyone figuring out whom they want to be loyal to, so they get points to either buy more, or use as a currency for other things they want. As they say at Guinness…“brilliant.” But we were drinking something else. How the heck does that apply to insurance? Well think about this. Suppose, just suppose, that individuals, particularly those who don’t think they can afford much insurance, whether it be health, life, auto, home, etc., etc., funneled their “points” into an insurance “fund.” And then they paid whatever they could on top of it. I don’t know…$10, $20 a week? And then they were able to dip into that pool for “claims” at a benefit...<div><a href="http://community.maddockdouglas.com/blog/entry/86602/What-if-Insurance-Coverage-Worked-on-Points/">[Read more]</div> Culture of Innovation New Products, Services, and Business Models Innovation Discussion Financial Services Innovation Community Ideas Thu, 15 Sep 2011 07:28:31 GMT Maria Umbach http://community.maddockdouglas.com/blog/entry/86602/What-if-Insurance-Coverage-Worked-on-Points/#discussion?src=category_rss http://community.maddockdouglas.com/blog/entry/86602/What-if-Insurance-Coverage-Worked-on-Points/?src=category_rss The Timely Death of B2B http://community.maddockdouglas.com/article/85416/The-Timely-Death-of-B2B/?src=category_rss <img align="right" hspace="10" src="http://community.maddockdouglas.com/imagelib/contentitem/85416/501a4d8d579923f2--36a11736-131fb861558-75b8-285762392.jpg">Start by thinking about the wants and needs of consumers, not those of the businesses that deliver products to them By G. Michael Maddock and Raphael Louis Vitón "Let’s face it, business-to-business is dead." What made these words so stunning was that they came from the president and chief operating officer of a $2 billion operating company that runs a legendary list of profitable businesses, all of them in B2B. (That’s short for "business to business.") We had just started a conversation about innovation and his declaration came unprompted. For us it was quite a moment. It also served as a blazing confirmation of a significant realization too long in coming: In order to successfully invent relevant new products, services, or business models, all companies must first think of themselves as consumer-products companies—no matter whom they sell to. A few years ago, we stopped responding to requests for proposal (RFPs) to bid on new projects. The reason wasn’t that we never won them. (We won more than our fair share.) It was that they were frustratingly wrong. The RFPs outlined a list of requirements in an innovation "partner," followed by a list of objectives for the project. Too often the...<div><a href="http://community.maddockdouglas.com/article/85416/The-Timely-Death-of-B2B/">[Read more]</div> New Products, Services, and Business Models News, Rumors, Gossip, & Trends Innovation Discussion Innovation Community Ideas Future Trends Wed, 24 Aug 2011 14:37:13 GMT Maddock and Viton http://community.maddockdouglas.com/article/85416/The-Timely-Death-of-B2B/#discussion?src=category_rss http://community.maddockdouglas.com/article/85416/The-Timely-Death-of-B2B/?src=category_rss