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Diversity 'fuels innovation' in business

Tyson Ngubeni
By Tyson Ngubeni
Sun City, 09 Jun 2014
Combining a diverse range of ideas and expertise is key to consistent innovation, says Medici Group CEO Frans Johansson.
Combining a diverse range of ideas and expertise is key to consistent innovation, says Medici Group CEO Frans Johansson.

Businesses often struggle to differentiate their ideas from those of their competitors in attempts to gain an advantage - an occurrence which stems from a lack of diverse ideas in pursuing innovation.

So said Frans Johansson, founder and CEO of consulting firm The Medici Group, in a keynote address at the Saphila 2014 conference for SAP users, at Sun City, today.

"We use logic to try and be successful, assuming that nobody else has access to that logic. You then end up finding the same solutions as everybody else because of your approach."

All new ideas, said Johansson, are combinations of existing ideas, and innovation can be driven by bringing together expertise, knowledge sets and ways of thinking. "In order to create breakthrough ideas, find inspiration and ideas from cultures and fields other than your own."

Johansson pointed to a range of examples from different industries that businesses could emulate. The Eastgate Centre in Zimbabwe adopted its architectural design to include ventilation systems reminiscent of those found in termite mounds, while New York-based restaurateur Marcus Samuelsson fused numerous cultural influences to create a signature cuisine.

No instant solutions

Although trying different combinations may fail at times, noted Johansson, businesses persisting with the same approaches are unlikely to create environments which consistently push for innovation.

"If we look at our businesses and we are always working with the same people - the same logical choices - you can be sure your competitors are adopting similar approaches."

Other key steps required for consistent innovation, according to Johansson, are:

Executing goals

"As you carry out your goals, you realise that some of your previous expectations weren't true. You realise your initial goal was not your best one and you discover another one." Finding other goals may lead to better ideas in the long run, according to Johansson.

Don't rely on ROI

Pursuing innovative ideas should not focus solely on an immediate return on investment. "Nine months after founding Google, its owners offered it to Yahoo for $1 million, but the offer wasn't taken up." Businesses that nurture ideas, giving them time to develop, are likely to find successful goals in time, he added.

Pay attention to surprise

"When something surprises you, take note of it. We should focus on the moments we encountered things we didn't predict." According to Johansson, companies open to surprise are more likely to find innovative ideas which could eventually shift their goals towards successful ventures.

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