Your boss tells you to create the next multi-million dollar blockbuster product. After all, you are the expert. Yet, no matter how much your team tries to think outside-of-the-box, your innovation iterations can’t seem to break through the legacy product. Sure it has better bells and whistles but at the end of the day, it’s still the same widget with a new name.
A few companies such as Amazon’s Lab126 manage to innovate successfully. They check all the boxes — autonomy, multi-year budget, unwavering commitment from CXOs and the innovative culture to fail with discipline. But if your company isn’t ready for an organizational design overhaul, how can you think outside-of-the-box to get big wins?
According to a recent study, companies can systematically achieve better innovation outcomes by utilizing a combination of crowdsourcing and AI computation to create serendipity. Great ideas don’t have to occur once in a blue moon; it can happen consistently. The research indicates that great ideas are inspired from other domains, which is referred as analogical innovation.
Counterintuitive to our logic, we can improve innovation by analyzing a small part of the problem rather than the whole.
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