SOUTH BEND, Ind., Jan. 24, 2012 /PRNewswire/ -- Innovation can be an easy - and profitable - process if companies follow the advice in a new book "Wake Up and Smell the Innovation," which is targeted for all industries, including healthcare, non-profit and religion.
The book is based on the cutting-edge research of Memorial Hospital and Health System, one of the acknowledged leaders in innovation in the U.S. Leaders at Memorial have 12 years' experience building a culture of innovation based on over 50 Inno-visits to some of the most respected companies in the world, including Whirlpool, Baxter, Dupont, Lands End, Microsoft and many others.
"Most books focus on theory which can leave readers hungry for Monday morning implementation guidance. 'Wake Up and Smell the Innovation' is a real-life, firsthand story of the building of a culture of innovation in one of the most unlikely of enterprises, a healthcare system, along with dozens of true case studies of how theory and tools were implemented," said co-author Diane Serbin Stover, Chief Marketing and Innovation Officer for Memorial Health System.
Among the main findings of "Wake Up and Smell the Innovation" are:
- Curiosity and courage will take you far
- Innovation is always messy
- Be open to fresh looks and new lenses
- Find common ground on which to build
- Develop frameworks that fulfill your needs
- Don't be afraid to set high goals for amazing results
- Be patient for returns on investment
"They consistently worked to identify breakdowns and flip them into breakthroughs," said Larry Keeley, co-founder, Doblin, Inc. "In this slim book, they tell the tale of how they made innovation their own. How they flipped adversity to advantage and what they did to make Memorial Hospital and Health System a powerhouse of innovation that punches way above its weight."
"As you begin your innovation adventures, it is helpful to have a couple of anchor points to provide stability and support," said co-author Phil Newbold, President and CEO of Memorial Health System, Inc. "What we suggest is to establish early on two anchors planted firmly in the future, which should help prevent backsliding and a natural longing to return to the comfortable and familiar past. Senior leaders should use these two anchors to constantly orient their teams and staff towards the critical points."
The book also shows ways that for-profit companies and non-profits can measure innovation, including:
- Number of new products launched in a given period
- Expected future value of ideas in the pipeline
- Number of people trained in innovation methodologies
- R&D spending as a percentage of sales
- Revenue growth due to new products and services
"Wake Up and Smell the Innovation" is available at Amazon.com.
About the authors
Phil Newbold is president and CEO of Memorial Health System, Inc., in South Bend, Ind. He is a frequent author and speaker on many emerging healthcare trends. He has been featured in the Wall Street Journal and many other national publications. He has received many national and regional honors.
Diane Serbin Stover is Chief Marketing and Innovation Officer at Memorial Health System and leads the Memorial Venture Center where strategic alliances have been developed with companies such as Underwriters Laboratories, DuPont, Baxter, Best Buy and Lands End. She is a frequent guest lecturer at Saint Mary's College, Indiana University South Bend and the University of Notre Dame. She is a frequent speaker on Innovation and Designing Exceptional Experiences.
About Memorial Health System
Memorial Health System, Inc., established in 1984, serves as the parent company of Memorial Hospital of South Bend, as well as Memorial Health Foundation, Memorial Home Care, Memorial Health & Lifestyle Center, HealthWorks! Kid's Museum, Memorial Children's Hospital and Memorial Medical Group. Memorial is not only recognized nationally as a leader in providing high-quality care, but also as a leader in innovation, offering new approaches to patient satisfaction and customer service that set us apart.
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