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Published July 2010
According to IBM's 2008 "Global CEO Study: The Enterprise of the Future," CEOs will channel more than one-quarter of their total annual investments toward creating new streams of revenue by capturing rising prosperity opportunities.
The emergence of "innovation camps" presents a new model whereby employers can harness the full creative potential of their workforce and identify new business prospects in ever-expanding diverse markets. Usually taking place over several days, the camps are designed to streamline radical and inventive brainstorming with talent development and business goals.
"In an innovation camp, you take a group of very diverse and creative people away from their everyday environment into an environment where they can experience intense creativity with a purpose," said Paul Sloane, founder of Destination Innovation, a consultancy group that helps organizations develop innovation strategy.
Sloane said preliminary activities work toward creating an atmosphere that removes delegates from their usual work environment.
"It's just about getting people to be released from their inhibitions, explore new boundaries, meet people and feel very creative," Sloane said.
From bubble-blowing to giant Pac-Man, group activities help deconstruct the target-driven workplace paradigm. Innovation is liberation, and as these activities morph into more business-oriented brainstorming sessions, a free-thinking mindset will ultimately enable employees to unlock their full creative potential.
"They understand what the customer needs, and they understand technology better than the senior VPs do, so they can put together really creative things if they're just given their own power," he said.
Delegate creativity is channeled into developing new business ventures with large-scale revenue potential. Indeed, at a recent Amdocs innovation camp, the multibillion-dollar software provider looked to develop ideas valued at more than $100 million apiece.
Sloane, who facilitated the camp, said that selecting and investing in the right ideas is integral to yielding a significant return on investment.
"If you get some great innovations, then it would pay itself back many times, but if they're not properly evaluated or carried through, [the camps] could be seen as frivolous."
The Real Value of Innovation Camps
Former IBM chief executive Thomas J. Watson once wrote, "I believe the real difference between success and failure in a corporation can be very often traced to the question of how well the organization brings out the great energies and talents of its people."
While addressing the business directives of an organization, the real value of innovation camps lies in their potential to develop talent and enhance workplace corporate culture.