Net Promoter Score asks this simple questions “How likely is it that you would recommend our company to a friend or colleague?” on a scale of 1-10.

Based on their responses, customers are categorized into one of three groups: Promoters (9-10 rating), Passives (7-8 rating), and Detractors (0-6 rating). The percentage of Detractors is then subtracted from the percentage of Promoters to obtain a Net Promoter score.Add New

Taken from 10 things CEOs should know about design, I thought this very well summarised..

A brilliant piece of pictorial data from Mashable:

10 Lessons learnt from startup from Finland:

1. Be contagious
2. Focus on a Vision
3. Stop Thinking – Deliver
4. Step Up to Your Role
5. Build a Great Team
6. Learn to Listen; Learn to Fail
7. Pitch With Passion
8. Don’t Seek Funding (Yet)
9. Do Your Homework
10. Be Visible

The recent IBM Global CEO Survey showed:

1. Top performing organizations are 54 percent more likely than others to make rapid decisions.
2. 95 percent of top performing organizations identified getting closer to customers as their most important strategic initiative over the next five years – using Web, interactive, and social media channels…
3. Organizations that have built superior operating dexterity expect to capture 20 percent more of their future revenue from new sources than their more traditional peers.

wooo! Look at the growth of the internet!

Looks fun Social Media Monopoly

Book Title: It’s not how good you are, it’s how good you want to be
Author: Paul Arden
Year written/published: 2003
Book Source: Amazon
Some extracts:

Your vision of where or who you want to be is the greatest asset you have. Without having a goal it’s difficult to score.

That’s the nature of the creative person. All creative people need something to rebel against, it’s what gives their lives excitement, and it’s creative people who make the client’s lives exciting.

Firstly you need to aim beyond what you are capable of. You must develop a complete disregard of where you abilities end. Try to do the things that you’re incapable of. … Make your vision of where you want to be a reality. Nothing is impossible.

Do not covet your ideas…

GIve away everything you know and more will come back to you. You will remember from school other students presenting you from seeing their answers by placing their arms around their exercise book or exam paper. It is the same at work, people are secretive with ideas. “Don’t tell them that, they will take the credit for it.” … The problem with hoarding is you end up living off your reserves. Eventually you will become stale. If you give away everything you have, you are left with nothing. This forces you to look, to be aware, to replenish. .. Ideas are open knowledge. Don’t claim ownership.

High creativity…

The comedian John Cleese puts it rather more eloquently, “High creativity is responding to situations without critical thought” (playfulness) If you are in deadlock here are a couple of tricks you might try:

1. Do the opposite of what the solution requires
2. Look out of the window and whatever catches your eye, a bird, a television aerial, an old man on crutches or whatever, make that the solution to your problem.

Rough layouts sell the idea better than polished ones…

Because you haven’t shown the exact way it’s going to be, there scope to interpret it and develop and change it as you progress… With with him (Client) rather than confronting him with your idea.

Get out of advertising…

You will see the same books in every agency. Certainly, a knowledge of the techniques of and the tricks of advertising can be very useful, possibly essential. True, people do look for some-thing new, but sometimes it’s something new to copy. TO be original, seek your inspiration from unexpected sources.

Present creative work first…

Try opening with the creative work. If he likes it he’ll listen with interest to whatever else is said. If he doesn’t, you’re dead anyway, and it will shorten the meeting.

Book Title: Open Innovation – Researching a New Paradigm
Author: Editted by Chesbrough, Wim Vanhaverbeke, Joel West
Year written/published: 2006
Book Source: Amazon
Some extracts:

Definition

Open Innovation is the use of purposive inflows and outflows of knowledge to accelerate internal innovation and expand the markets for external use of innovation, respectively…. Open innovation paradigm treats R&D as an open system. Open Innovation suggests that valuable ideas can come from inside or outside the company and can go to market from inside or outside the company as well. This approach places external ideas and external paths on the same level of importance as that reserved for internal ideas and paths to market in the earlier era.

R&D spending in small firms increases…

Business and technology…

There is no inherent value in a technology per se. The value is determined instead by the business model used to bring it to market. The same technology taken to market through 2 different business models will yield different amounts of value. As inferior technology with a better business model will often trump a better technology commercialized through an inferior business model.

Start-up…

Start-ups play an important role, well beyond that of their share of revenues on employment within the economy. They are the carriers of new technologies, and sometimes explorers of new markets. They also often represent experiments with new and different business models…. startups provide an initial impetus for radical innovations, and sometimes becomes important partners in the creations and delivery of those radical innovations… represent an important source of novel technologies into an industry, even though startups do not appear to command much market share in consumer electronics….

3 steps of Radical Innovation:

1. Discovery
2. Incubation
3. Acceleration

Our 3 challenges led to 3 related research questions:

1. What circumstances motivate firms to embrace Open Innovation approaches as part of their R&D efforts?
2. Why would non-profit firms commit their IPs as well as ongoing human resources to an effort that they know will benefit others, including competitors?
3. Why do individuals contribute their IP to a project that benefits firms without receiving financial remuneration?

Open Source….

Open source as an Open Innovation strategy has 2 key elements: shared rights to use the technology, and collaborative development of that technology. Unlike many individual participants, firms must also consider a third issue : capturing an economic return to justify their investment.

Importance of Appropriability

Nearly 2 decades ago, David Teece (1986:285) wrote:
It is quite common for innovators – those firms which are first to commercialize a new product or process in the market – to lament the fact that competition/imitation have profited more than the firm first to commercialize it!…. Teece’s observation anticipated a subsequent burst of research that showed that technological pioneers have as many advantages as disadvantages.

Role of IP

Voiding this problem of underinvestment in innovation is exactly the point of granting temporary monopolies through intellectual property rights. …. “The objective of intellectual property protection is to create incentives that maximize the difference between the values of the intellectual property that is created and used and the social cost of its creation….

early and present technological innovations…

… recounts how the key technologies of the early and mid-20th century was developed by industrial research departments within the large diversified enterprises of US and Europe. Such diversification, along with vertical integration from research and development (R&D) through distribution, provided these firms with competitive advantage over smaller and newer rivals through economies of scale and scope…. “It is a view that says successful innovation requires control… This paradigm counsels firms to be strongly self-reliant, because one cannot be sure of the quality, availability and capability of other’s ideas..”… However, from his study of US industry practice at the end of the 20th century,,, this model was reaching its limits. Along other factors he identified the increased mobility of knowledge and availability of venture capital to create new firms to capitalize on such knowledge.