Tuesday,
September 1, 2004. Denver, Colorado
Does
Market Success Kill Innovation?
Innovation Summit Provides Antidote
Is success
the enemy of innovation? Clayton Christensen knows. In The Innovator's
Solution and Seeing What's Next (Harvard Business School Press),
he points out recurring patterns across industries, which show
that behaviors that sustain success also stifle innovation. Perhaps
you know for yourself. Has your own company disappointed shareholders
and frustrated employees in attempts to bring innovation to market?
Companies
optimize performance by perfecting products, processes, market
knowledge, and decision-making models (especially regarding investment).
That same drive to get the most out of each investment often blinds
management. They can’t recognize potential or justify investment
in something really new. After all, innovation is uncertain, expensive,
long-term, and complex.
Innovation
and innovativeness are consistently recognized as a company’s
“single strongest predictor of investment value” (Fortune).
Yet few companies achieve stellar results. Chicago-based Kuczmarski
& Associates report that organizations experience 12 failures
for every success. Those failures cost Fortune 1000 companies
alone over $60 billion per year in wasted development effort.
In addition, these firms suffer inventory and image costs visible
to customers, analysts, competitors, and investors. They must
decide whether to fix failed products or pull the product from
markets. Failed innovation can kill even successful companies.
On the other
hand, we know of companies and business units that innovate successfully
every day. What do these top-notch companies know? Can the art
of on-going innovation be mastered? In answer, the 2004 Colorado
Innovation Summit innovation delivers “Lessons from the
Real World” designed for executives and innovators of mid-size
and larger companies.
Example: Patrick
Gonzalez of Hewlett Packard will share lessons learned during
the emergence of HP’s company-saving digital imaging products.
Example: Wendy Bohling of Avaya will explain innovation leadership
using the story of IP Telephony. Other sessions will feature:
- Creating
and running a virtual company (Mike McCraken, Vice Chairman,
Tatum Partners)
- Mutual
leveraging to complete innovation of a world-class optical imaging
process (R.C. Mercure, Jr., CEO of CDM Optics and Tom Mahoney
of Ball Aerospace)
- A Chief
Technology Officer panel including William Marshall (Dharmacon),
Mike Weiss (Landmark Graphics), Drew Couch (Ball Aerospace),
and Wendy Bohling (Avaya)
The Colorado
Innovation Summit’s 18 sessions will deliver practical,
actionable, take-home-and-use lessons that apply across industries
and across types of innovation. An audience of up to 350 people
– roughly 70% corporate management and innovation staff,
with the rest a mix of service providers, entrepreneurs, government
representatives, economic development professionals, and students
– is expected.
| The
Colorado Innovation Summit accelerates innovation
vision, process, and profits through lessons from the real
world that deliver more competitive, timely, and valuable
innovations. Program, exhibits, and networking serve both
management and staff in midsize and larger organizations.
Date:
September 23-24, 8:00-5:00 with an informal reception on
Thursday
Registration: $445 before September 19
and $495 thereafter
Register at www.InnovationSummit.com or by calling 303-666-4133
Venue: Stonebrook Manor, near I-25 at 120th
Avenue in Thornton
|
The Colorado Innovation Summit is organized by
Gary Lundquist, President of Market Engineering, and Thomas Frey,
Executive Director of The DaVinci Institute. Market Engineering
accelerates innovation and brand equity with services in strategic
visioning and management of businesses, products, strategies,
and launches. The DaVinci Institute is a futurist think tank that
produces unique, one-of-a-kind conferences to stimulate debate
and action on a variety of topics.
Media
Contacts:
Mary Wilson Callahan, 303-774-0499, mary@silverstreakpartners.com
Gary Lundquist, 303-840-9929, GaryL@Market-Engineering.com
