This post first appeared on Business Green.
Think of innovation and what comes to mind? Blue skies, blank sheets of paper, keeping your thoughts showering and definitely outside of any boxes? These might be helpful for great leaps forward, but most technological development occurs through a series of small shuffles: a one per cent efficiency gain here, a five per cent weight reduction there. This is the kind of optimisation that delivers a competitive advantage rather than creates a whole new market, and a long term study by McKinsey has shown that focusing on a few key objectives is a vital part of successfully innovating to deliver incremental improvements. Read more