scholarly journals “How much is this worth?” Humana’s Chief Innovation Officer Explains Why This is the Wrong Question

10.28945/3752 ◽  
2017 ◽  
Vol 1 ◽  
pp. 031-038
Author(s):  
Troy Montgomery
Keyword(s):  
Service Providers ◽  
Innovation Process ◽  
Disruptive Innovation ◽  
Business Leaders ◽  
Health And Wellness ◽  
Large Organization ◽  
New Ideas ◽  
Innovation Approach ◽  
Health Data Analytics ◽  
Start Ups

Chris Kay, Humana’s Chief Innovation Officer, shared insights into the innovation decision-making process. Kay discussed specific strategies employed by Humana to bring consumer insights to action and he shared examples of the development of innovation ideas. “The first, and most often wrong, question is, ‘How much is this worth?’” Chris Kay, the Chief Innovation Officer at the $50B health and wellness company Humana, shared his perspective on the criteria in selecting innovation ideas. Business leaders have a tendency to examine how much an innovation is worth in the early phases of innovation, but Kay argued organizations should focus measurements on customer desirability. During a one hour interview Kay discussed a number of interesting innovation topics including why asking “How much is this worth?” is the wrong question to ask early in the innovation process. Kay confirmed that the majority of value is created in understanding the customer experience and innovating around it. At Humana early metrics concentrate on experiential measures of member health. Experiential measures are driven by research and based on customer insights and unmet needs. Kay also discussed the importance of Co-creation, an innovation approach where Humana partners with smaller startup companies on new ideas. Humana’s innovation team seeks the best and brightest venture capital backed start-ups to form partnerships. Creating a shared view of success allows both the partner and Humana to capture knowledge, build value, and learn from failures. Decisions on these disruptive innovation ideas are typically made by a team of external partners, advisors, and leaders outside of Humana’s established lines of business. Innovation at Humana also occurs internal to the organization. Humana is a diverse health and wellness company with lines of business including health insurance, health data analytics, pharmacy, and healthcare service providers. Kay highlights the importance of working across horizontal lines of business in such a large organization to minimize the effects of innovating in silos. Working off of horizontal platforms allows the company to take advantage of diverse resources to gain synergies when pursuing innovation ideas. Innovation across horizontals also increases transparency and allows Humana to build a portfolio of innovation ideas.

Behavioural Economic Influences on Primary Market Disclosure – The Case of the EU Regulation on European Crowdfunding Service Providers

2021 ◽  
Vol 18 (3) ◽  
pp. 428-463
Author(s):  
Konstantinos Serdaris
Keyword(s):  
Service Providers ◽  
Preliminary Evaluation ◽  
Full Disclosure ◽  
Content Quality ◽  
Platform Governance ◽  
Capital Markets Union ◽  
Alternative Means ◽  
High Level ◽  
Start Ups ◽  
The Eu

Abstract On 5 October 2020, as part of the Capital Markets Union (CMU) project, the European Parliament adopted, in second reading, Regulation (EU) 2020/1503 on European crowdfunding service providers for business (‘ECSP Regulation’). This Regulation, which shall apply as of 10 November 2021, consists of rules which aim at improving access to crowdfunding for EU businesses in need of capital, particularly start-ups, while, at the same time, providing a high level of protection to investors. To attain that it builds on three sets of measures: clear rules on information disclosures for project owners and crowdfunding platforms; rules on platform governance and risk management; and a coherent approach to supervision and enforcement. The focus of this article is on the disclosure-related set of provisions. Its aim is to demonstrate how the new rules embrace a more behavioural approach to primary market disclosure which, in contrast to the paradigm of full disclosure, focuses on the content, quality and framing of disclosure as an alternative means of enabling informed and, thus, allocatively efficient investment decisions. In a second step, it seeks to provide a preliminary evaluation of these measures both from a practical and a normative perspective.

Disruptive innovation and circularity in start‐ups: A path to sustainable development

2021 ◽  
Author(s):  
Simone Sehnem ◽  
Tais Provensi ◽  
Tiago Hilário Hennemann Silva ◽  
Susana Carla Farias Pereira
Keyword(s):  
Sustainable Development ◽  
Disruptive Innovation ◽  
Start Ups

A Spanner in the Works: Category-Spanning Entrants and Audience Valuation of Incumbents

2021 ◽  
Author(s):  
Rory M. McDonald ◽  
Ryan T. Allen
Keyword(s):  
Service Providers ◽  
Disruptive Innovation ◽  
Financial Service ◽  
Industry Evolution ◽  
Future State ◽  
Categorization Scheme

Previous work has examined how audiences evaluate category-spanning organizations, but little is known about how their entrance affects evaluations of other, proximate organizations. We posit that the emergence of category-spanning entrants signals the advent of an altered future state—and seeds doubt about incumbents’ prospects in a reordered industry-categorization scheme. We test this hypothesis by treating announcements of funding for startups as an information shock to investors evaluating incumbent financial service providers between 2010 and 2017—a period marked by atypical category combinations at FinTech startups. We find that announcements by startups that embodied unusual combinations of categories resulted in lower cumulative average returns for incumbents, both in absolute terms and in comparison with typical startups. Our theory and results contribute to research on categorization in markets and to theories of disruptive innovation and industry evolution.

Is Co-working Increase Survivability? Study on how Collaborating and Networking Facilitates Open Innovation Process for Startups

2020 ◽  
Vol 7 (2) ◽  
pp. 68-75
Author(s):  
Elissa Dwi Lestari
Keyword(s):  
Open Innovation ◽  
Deep Understanding ◽  
Innovation Process ◽  
Future Research ◽  
Innovation Ecosystem ◽  
Quantitative Studies ◽  
Multiple Case ◽  
Start Ups ◽  
Community Manager

Startups, as they are bounded to their liabilities of newness and smallness, need to collaborate extensively with their external partners through the open innovation process. This study aims to depict Co-working space's pivotal role in building up a working innovation ecosystem that facilitates open innovation for startups. To get a more deep understanding of the phenomena, this study used an exploratory study based on three case studies of Co-working spaces operated in the Jakarta region. The study shows that the open innovation process among startups is not naturally existed, but instead, it is purposefully designed by the role of a community manager who acts as the ecosystem catalyst. The community manager becomes the ecosystem enablers that facilitate the networking process by connecting members. As a result, these activities will help the emerging of mutual connection and collaboration processes among members that empower open innovation among startups members. The multiple-case design makes the study conclusions might be difficult to generalize. Future research, including quantitative studies, will help the conclusions examination and the knowledge enrichment of start-ups' open innovation process. This paper will enrich the knowledge concerning how Co-working spaces member seizing opportunities that lead to the open innovation process.

scholarly journals Responsible innovation among academic spin-offs: how responsible practices help developing absorptive capacity

2015 ◽  
Vol 15 (2) ◽  
pp. 165-179 ◽  
Author(s):  
V.E. Scholten ◽  
P.A. van der Duin
Keyword(s):  
Conceptual Model ◽  
Absorptive Capacity ◽  
Stakeholder Engagement ◽  
Innovation Process ◽  
Responsible Innovation ◽  
Social Responsiveness ◽  
External Knowledge ◽  
Negative Effect ◽  
Sustainability Practices ◽  
Start Ups

Responsible innovation (RI) among technology-based start-ups has received little attention, while these firms are known to operate on the edges of what is socially desirable or ethically acceptable. In this paper we develop a conceptual model that captures the RI practices among 61 academic spin-offs and investigate how it affects the capacity of the firm to absorb external knowledge to better the exploitation of the innovation. The findings indicate that potential absorptive capacity is increased by both stakeholder engagement and social responsiveness, while realized absorptive capacity is moderately increased through social responsiveness. Remarkable is the finding that the extent that sustainability practices resonate in the start-ups operations does have a negative effect on the potential absorptive capacity. These results provide insight in the way in which start-ups adopt a RI philosophy to their innovation process and help to better understand how they learn and acquire external knowledge to increase the acceptance of their innovations. The findings provide clear recommendations for entrepreneurs and policymakers in the field of entrepreneurship and innovation.

Technology brokering and innovation: linking strategy, practice, and people

2005 ◽  
Vol 33 (1) ◽  
pp. 32-36 ◽  
Author(s):  
Andrew Hargadon
Keyword(s):  
Design Methodology ◽  
Innovation Process ◽  
Innovation Strategy ◽  
Growth Opportunities ◽  
Main Method ◽  
Content Type ◽  
Corporate Leaders ◽  
Continuous Innovation ◽  
New Ideas ◽  
Practical Implications

PurposeThe author has spent the last ten years studying the innovation process in modern organizations and found that the most successful firms pursue an innovation strategy termed technology brokering.Design/methodology/approachHow are the objectives achieved? Include the main method(s) used for the research. What is the approach to the topic and what is the theoretical or subject scope of the paper?FindingsRather than chasing wholly new ideas, these successful firms focus on recombining old ideas in new ways. The results have sparked many technological revolutions and produced a steady stream of growth opportunities for existing businesses.Research limitations/implicationsNeeds cases showing that technology brokering, and the complementary work practices and people, can successfully execute such a strategy.Practical implicationsBy transforming traditional R&D organizations through a strategy of technology brokering firms can build competencies for continuous innovation..Originality/valueTo pursue a strategy of recombinant innovation, corporate leaders must put themselves in position to be the first to see how existing technologies in one market could be used to create breakthrough innovations in another.

scholarly journals DIGI-INNO Tech: Reinventing Innovations

2020 ◽  
pp. 356-360
Keyword(s):  
High Speed ◽  
Social Innovation ◽  
Innovation Management ◽  
Innovation Process ◽  
Value Chains ◽  
Technological Innovations ◽  
Green Innovation ◽  
Digital Innovation ◽  
New Ideas ◽  
Very High

Digital-Innovation Technology calls for reinvention of innovations that offers new opportunities and challenges to design new products and services in the era of hi-tech competition. Digitalization and innovations are pressing issues for business in almost each and every industry. The scope to create new digital value chains increases at a very high speed due to interconnection of people and systems . It is to be believed that wonderful new ideas can open up new ways of looking at various Social Problems because of Digi-Inno connection between people and software. However creating digitalized product and services often creates new problems and challenges to the firm that are trying to innovate. The concept of reinvention in innovation process is redesigning the innovations coupled with advances in science and technology. Technological innovations are only one of many kinds of innovation that develops variety of terms like social innovation, sustainable innovation, responsible and green innovation. In this paper, we tried to give special emphasis on issues of digital innovation management which helps to seek a better base for reinventing innovation management research in digital innovative world.

scholarly journals DAMPAK PENDEKATAN OPEN INNOVATION TERHADAP KINERJA INOVASI PERUSAHAAN DI INDONESIA

2018 ◽  
Vol 15 (2) ◽  
pp. 235-259
Author(s):  
Siti Fadhilah
Keyword(s):  
Significant Influence ◽  
Open Innovation ◽  
Innovation Performance ◽  
Business World ◽  
Technology Acquisition ◽  
Innovation Activities ◽  
Industrial Sectors ◽  
New Ideas ◽  
Service Sectors ◽  
Innovation Approach

Open innovation is an approach that involves not only internal company, but also external parties in developing and integrating new ideas optimally for the benefit of the company. This approach is more applied by companies in innovating to cope with the business world whom very competitive. However, research through this approach is still minimal and the concept has not been fully adopted in Indonesia. Therefore, the purpose of this research is to know how the influence of open innovation approach and the factors supporting the development of innovation on innovation performance in Indonesian companies. The scope of this research is Indonesian companies engaged in all industrial sectors (both manufacturing and service sectors), which conducts innovation activities for the last 3 years, from 2011 to 2013. The research method is quantitative with statistical data analysis descriptive and inferential ie regression analysis. The result of the research shows that the open innovation approach model has a significant influence on the innovation performance of the company, but only two of the three variables approach are inter-organizational collaboration and technology acquisition which has significant influence. For both factors supporting the development of innovation ie the source of information (both internal and external) and internal R D, factors that have a significant influence on innovation performance of the company only internal R D alone.

scholarly journals The Control Process Effectiveness: Organization Versus Customer

2013 ◽  
Vol 11 (8) ◽  
pp. 345
Author(s):  
Ofer Barkai
Keyword(s):  
Quality Of Service ◽  
Customer Service ◽  
Internal Control ◽  
Service Providers ◽  
Control Process ◽  
Point Of View ◽  
Large Organization ◽  
Control Processes ◽  
Telecommunication Company

This research project, which was implemented in an organization whose primary function is providing service (Telecommunication company), studies the scope of the correlation between the quality of service from the customers point of view (customer survey) and the organization (Telecommunication company systems). The research is important both for economic and scientific reasons. It involves many organizational control units which require significant monetary investments. From a scientific point of view, the research is important because it can shed light on the asymmetrical point of view existing between customers and organizations. Organizations that are service providers place high importance on the quality of service and their image as perceived by their customers. Quality of service is measured through internal control processes and from there is passed on to the staff who are directly involved in customer service. In this study, we focus on a large organization which implements control processes and then provides service to customers. Therefore, the activities of this organization are judged first and foremost on the basis of the service quality provided. The existing internal control processes of the organization, which measure the standard of service provided on the basis of organizational benchmarks are separate from those that measure customer satisfaction. In this project, we analyze the correlation between the outlook of the customer and the results of internal control processes.

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