Crowdsourcing Your Way to Innovation Takes More than Just a Good Idea

Crowdsourcing Your Way to Innovation Takes More than Just a Good Idea

INNOVATION LESSON OF THE WEEK: This week, we look at crowdsourcing innovation programs. Los Angeles, following in the footstep so other cities like Atlanta, created a fund for employee-driven innovation. AT&T reports numbers on five years of such a program. Crowdsourced (or employee-driven or open) innovation programs have a fundamental flaw; they think innovation is predictable.

Innovation Lessons from This Week

Innovation Lessons from This Week

There are so many articles about innovation. We siphoned through the lot and picked a few that we believe illustrates some key lessons about innovation. This week, we showcase why passion matters, how to be resourceful, and why a small idea can have huge impact.

Medici Effect and Athletics

Medici Effect and Athletics

Michael Bergmann, a 30-year Nike veteran who we interviewed last year, assembled an innovative track and field program that applied Medici Effect principles. This led to the school's first conference title in 15 years -- and the turnaround only took two years. As if the immediate success didn’t answer any doubtful questions, the squad is back at it in 2014. Read what happened this year.

Diversity is Profit

Diversity is Profit

It started with a thread on Facebook this morning, and appeared a joke by the comments. The cited article reported that startup Walker & Company — a "Procter & Gamble for people of color" — had raised $7M in Series A funding from some heavyweight backers, including Andreesen Horowitz and Ron Johnson, former Apple retail chief responsible for the Apple Stores strategy. The comments on the Facebook post (private unfortunately) could have been accompanied by eye-rolling and head-shaking as a commentator lamented how Silicon Valley was trying to profit off America's "race issue". 

Cover Story: Renaissance Man

The January issue of Diversity Executive is out, and Frans Johansson is on the cover, in the feature story, “Renaissance Man.” 

Here's an excerpt:

Things are clicking these days for Frans Johansson.

The 41-year-old business consultant and author has turned heads with his recent book about creativity, “The Click Moment.” His New York City-based firm, The Medici Group, is snagging business with clients such as Nike, Caterpillar and Pfizer. Johansson himself is crisscrossing the globe to speak, including a stretch not long ago in which he delivered 10 keynote talks in five countries within a couple of weeks.

All this momentum is vindication of Johansson's long-standing argument about the connection between diversity and innovation.

You can read the full article here.

Cover Story: What Box?

The Medici Group is featured in the latest Black Enterprise, with our CEO Frans Johansson gracing the cover. In it, our approach to innovation is featured, from using diversity to our laser focus on execution.

Our clients MetLife and Nike are prominently cited. Here’s what they had to say:

Cindy Davis, president of Nike Golf, noted that the Medici process “really created an even more robust conversation about ideas and innovation and how to look at opportunities or challenges and how that comes together to create and even more exciting solution.”

Gina Warren, Nike’s vice president of global diversity and inclusion, on the global program, “Diversity and Innovation: The Medici Effect”, licensed from The Medici Group: “It’s a four-hour experience that we have made our signature experience for all Nike teams around the world.”

John Geyer, vice president of innovation at MetLife on what makes The Medici Group different: “Most other companies had the same pitch—do a bunch of market research, do a bunch of interviews and focus groups—like a formula. Frans and The Medici Group had a different formula: Bring together a bunch of diverse people, brainstorm intensely like you’ve never brainstormed before, ruthlessly prioritize, and go out and experiment—in a few months instead of a few years.”

IntersectionPoint: One Smallest Executable Step at a Time

IntersectionPoint: One Smallest Executable Step at a Time

One of the fundamental principles of The Medici philosophy is to apply Smallest Executable Step™ (SES) to execution. The SES entails testing innovative initiatives in a small way by using existing resources. Unlike what is commonly believed, asking for more resources, especially financial ones, early in the execution process of an initiative will not improve the chances of success. Instead, early financial resources can hinder creativity and innovation.

Can you Innovate in Static Industries?

Can you Innovate in Static Industries?

When people think about innovation they often think about the newest Apple or Google product launch. However, innovation isn’t just about products. Innovation is possible in every field. It doesn’t matter if the field is Human Resources, Operations, or Accounting—innovation can happen. This example shows that if you combine engineering and traditional advertising you can jumpstart static industry: higher education.

Top 3 Innovation Articles of September 2013

Top 3 Innovation Articles of September 2013

Every day thousands of people and companies search for innovation tips. In fact there are nearly 600 million websites devoted to answering the question, “How can I be more innovative?” Each month, The Medici Group highlights the top innovation stories of the last 30 days and what you can learn from them. Last month we looked at a organizational revolution in professional football. This month we look at the power of articulation and Voyager 1.

How the Amish are Creating Green Technology

How the Amish are Creating Green Technology

Almost everyone agrees that renewable energy is the future. A 2013 Gallup poll revealed that ¾ of all Americans favor increased investment in solar energy.  Investment trends mirrored this sentiment; Silicon Valley invested in renewable technology at record rates. In fact, last year globalinvestment in renewable energy reached $257 billion. When we think about renewable technology, we often think of graduate degrees, complex technology and dot-com billionaires.