Is Innovation Necessary for Companies?

I came across this thought provoking article about innovation from the Harvard Business Publishing today. It discusses how useful innovation really is, and whether or not it is ‘overrated’. As Scott Berkum stated

“It's a vague, subjective term that distracts from what you're really trying to do: enjoy your life. Or in the case of a business: profit by making good things.”

His premise is that businesses should not be focused on building the newest and latest, instead they should focus on making the best in class. He provides the example of Google and Apple. Both companies were not the first innovators for either search engines, or touch screen, yet both companies are hailed as being the best innovators from sources such as BusinessWeek. His view is that this is a misnomer and instead they simply are the best at what they do. As he explains

The truth is making really good things is difficult -- it requires a commitment to craft, an attention to detail, and a love for work that has always been rare. And while we'd never call these three attributes innovations, it's the success of creating an organization that rewards these things that leads to the products we often herald, after they're done, as innovations.

Do you agree with his assessment on innovation? If not what is your viewpoint?

Using Trash to Power a Vehicle

In the past, being at war has been a launching point for innovation with the creation of common products such as the Jeep, computer, and microwave. Currently, the Army’s Rapid Equipping Force, is funding the Tiger project to create a new type of vehicle that can convert food and waste into fuel as reported in this article. The full name for the vehicle is Tactical Garbage to Energy Refinery, and it will provide the military with a safer way to dispose of trash where soldiers won’t have to worry about being exposed when taking it out, while simultaneously helping to save energy costs as an alternative fuel source. As Peter Kindsvatter, military historian at Aberdeen Proving ground, remarked on the importance of innovation

“In wartime, you’re not worried about making a profit necessarily, you’re worried about getting the latest technology on the street. Basically, you find yourself in a technology race with your enemy.”

Tiger is being developed by scientists from Edgewood, VA Defense Life Sciences LLC, in conjunction with Purdue University. So far the costs to the military for this project have totaled $3 million dollars. Future funding will be dependent on how successful the 90 day testing period that is ending August 10^th proves to be.

China’s innovative Olympics venues

Yesterday, we wrote a post about how China is trying to regain the innovative reputation they had for centuries. One of the ways their doing this is buy using innovative, sustainable venues to host the games of the summer Olympics. The venues were detailed here in the China View.

The National Stadium is built out of steel, which is formed into a lattice. This structure helps the venue with water conservation, pooling the rain water into a nearby pond. The rain water will provide 23% of the water used on the grounds, and the rest will come from industrial waste water and urban sewage. The recycled water will be used for watering the plants and washing the race track.

The National Aquatics Center was also built in order to collect rainwater. The “Water Cube” will have devices to collect the wasted water from baths and the swimming pool to wash the grounds, flush the toilets and provide water for the cooling tower. The National Stadium will have solar panels on the roof and the southern side, which will in turn provide power for the underground parking garage. After the Olympics are finished, the energy from the solar panels will then be added into the power grid and give power to the homes of Beijing. At the Beijing Science and Technology Gym, where the judo and taekwondo will take place, conductors will filter 80% of the sunlight into the gym, filling the building with mostly natural light.

China working to revive innovative image

With the 2008 Summer Olympics quickly approaching, the spotlight is on China. Some of the countries most famous inventions have been gunpowder, paper, silk and the toothbrush. According to this article in the International Harold Tribune, China is trying to resurrect it’s image of innovation. In a recent exhibition at the Albert and Victoria Museum in London, researchers spent four years compiling China Design Now.

With all of the rapid growth taking place in China, the next step is to turn from a manufacturing country to a country that excels at inventing new products. Shanghai, Hong Kong, Shenzhen and Beijing are emerging as centers for innovation and design. In Beijing, architects have been able to build the world’s largest airport, as well as the bird’s nest stadium for the Olympics. Designers have made an effort to make all the buildings for the Olympics sustainable. A key to keep this new innovation and design going is the education of design through China. Schools have been growing significantly in number, however, China needs to take care to make sure that these schools are filled with the quality teachers and can provide a good education.

One of the museum curators, Lauren Parker, who helped design the exhibit had this to say about China’s future:

“The key challenges do not lie so much in the creativity and aspirations of individual designers (China has those), but in the development of a nurturing infrastructure which will develop its design strengths further. Most importantly China's government needs to invest in the country's designers, creating a supportive environment where design can flourish, and design companies can grow and thrive.”

Michigan Universities Promoting Innovation

In a recent post on our blog we mentioned how Florida is making an effort to become more innovative. This article from mlive.com, tells how Michigan is also making an effort to become more innovative in order to help the economy. All 15 of the public universities across Michigan have banded together to form a group called Michigan Initiative for Innovation and Entrepreneurship. The goal of this group will be to raise and distribute $75 million in funds in order to promote their cause. Thomas Haas, President of Grand Valley State University released this public statement:

All the universities are coming together knowing that we have an obligation to be a catalyst for the jobs of the future. We're going to create some excitement about entrepreneurs.

GE Builds Innovative Engines

Turboprop engines have become increasingly popular among private and corporate aircraft owners due to soaring fuel prices. This latest article in Business Week details how GE has created a new innovative turboprop engine, the GE M601 H80, to accommodate the airline industry’s need for an efficient alternative to fuel-thirsty jet engines.

GE engineers have created this innovative design by simply making updates in tried-and-tested designs. For example, engineers have worked on the aerodynamics of the engine, and will soon work on the redesign of the existing gearbox to continuously improve fuel efficiency. A wide portfolio of different engines ranging in power will be available over the upcoming years. GE, who has recently experienced disappointing earnings last quarter, has bounced back by reinvesting capital in new product development.

Hormel partners up with Culinary Institute of America

In a recent news release, Hormel and the Culinary Institute of America announced they were partnering up to offer advanced classes to professional chefs. The curriculum was chosen by both institutions in order to provide an education opportunity that had been in the field for more than five years. The four sets of three day sessions will give chefs an opportunity to focus on creativity, innovation, leadership and management. Upon graduation from the program, the students will have advanced certification from the CIA and become a member of the Hormel Circle of Innovation.

Dennis Gottsch, the vice president of marketing in Hormel’s Food Service division had this to say about the partnership:

We want to invest in the future of the culinary arts, creating an innovation-focused program to prepare today's best and brightest for leadership in the field. The values of innovation, leadership and entrepreneurship are at the heart of Hormel Foods' long-standing heritage. We are honored to partner with the CIA, the world's premier culinary college, to build this exciting and influential program.

Sources: Austin Post Bulletin, Fox Business