The Tandy Center for Executive Education and Leadership Presents
The Three Great Myths of InnovationDr. Ray Smilor
Senior Fellow, CFE
Innovation: Any change that results in a new dimension of performance.
Peter Drucker
Myth #1
Great innovations come from ideas that no one ever thought about before.
Reality
Bisociation
The Power of Combination
Company Innovations:
The Power of Combination
Marketing Innovations:
Beaver/Tires Bridgestone
Betty White/FootballSnickers
Gecko Geico
The Power of Combination
Product Innovations:
The Power of Combination
“Imagination is more important than knowledge.”
Albert Einstein
Forced Relationships
•To view world differently•To enhance imagination
Myth #2
Great innovations spring forth fully
developed in a sudden Eureka moment.
Realities
Trial & Error
Forms of Trail & Error
Forms of Trail & Error
By recognizing creative accidents
“What did you discover that you didn’t set out to discover?” Richard Feynman
Key: Level of curiosity
Forms of Trail & Error
By breaking accepted rules
“There are no rules here. We are trying to accomplish something.”
Thomas Edison
Key: An open mind
Myth #3
Great innovations come from chaotic, even haphazard environments.
Reality
Structure
The Forms of Structure
Policies/Procedures
Separate Organization
Deadlines
The Results of Structure
Caesar Salad Apollo 13
Innovation:
Combinations
Trial and ErrorMistakesAccidentsBreaking Rules
StructurePoliciesOrganizationDeadlines
CompaniesMarketingProducts
CHANGE
Performance!
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