Why not all disruptive innovations are truly disruptive

In this episode of the Decoding innovation podcast series, Pete Foley, an independent consultant, shares his insights on how psychology and behavioral science can be applied as a catalyst for innovation.

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With the rising disruptions and the advent of new technologies, industries need to focus their innovation efforts on the most crucial component of their businesses: the consumer.

Organizations, from startups to large companies, face various hurdles during their innovation journey — from scale to stage gates. Since, in the end, it’s the consumer's action that decides the outcome of an innovation, infusing psychology and behavioral science with innovation can shape and accelerate meaningful innovation.

Pete Foley, an independent consultant who focuses on human-centric innovation, explains why invention and innovation are different, how the core benefit of the product is the true driving force and why balance is important in an organization for effective innovation.

Key takeaways:

  • Organizational culture is one of the most important aspects in successful innovation. Innovative culture has passion, expertise and the resources to leverage.
  • Consumer research is cyclical, rather than a linear process. After market study, there's always the possibility of changes and improvements.
  • Most of the problems encountered are observed as executional, where people don't fully understand the product.
  • It is recommended that rather than simply hiring for expertise, people who show a breadth of interests can be more adaptable for innovation.

For your convenience, full text transcript of this podcast is also available. Read the transcript.

Presenters

Photographic portrait of Pete Foley
Pete Foley
Founder, Pete Foley Innovation LLC

Podcast

Episode 19

Duration 36m 41s

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In this series

Series overview
(Event List - Manual)

Why not all disruptive innovations are truly disruptive

In this episode of the Decoding innovation podcast series, Pete Foley, an independent consultant, shares his insights on how psychology and behavioral science can be applied as a catalyst for innovation.
Podcast

Episode 19

Duration
36m 41s

Presenters

Pete Foley

Founder, Pete Foley Innovation LLC

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Podcast

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Duration
39m 00s

Presenters

Keiran Smith

CEO and Co-Founder, Mr. Green Africa

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Presenters

Helen Burdett

Head, Technology Strategy, World Economic Forum

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Duration
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Presenters

Judi Greenwald

Executive Director, Nuclear Innovation Alliance