Innovations today do not just involve a good idea for how to do something more efficiently than before. They involve a whole process of production, marketting and revision that embeds their audiences within the creation cycle.
The Harvard Business School Ideacast features Roger Martin this week (Rotman School of Managementm, University of Toronto). Dean Martin discusses the importance of “design thinking”, which merges analytical thinking and creative thinking.
According to an abstract on his book, modern businesses can innovate if they employ and encourage design thinking: “This form of thinking is rooted in how knowledge advances from one stage to another–from mystery (something we can’t explain) to heuristic (a rule of thumb that guides us toward solution) to algorithm (a predictable formula for producing an answer) to code (when the formula becomes so predictable it can be fully automated)”.
Entrepreneurs who are seeking to create a new business model, especially within the technology sector, are encouraged to check out this podcast and book. For innovations that involve sustainable capacity-building, it is important that they are both “creative, and replicable”.
Read/hear more:
HBS ideacast audio
Roger Martin’s book, The Design of Business
Harvard Business School home