Last Updated Nov 17, 2008 8:49 PM EST
Frank Addante is the CEO of the Rubicon Project, a company whose mission is to keep the Internet free by making it easy for web publishers to monetize their online assets. Frank takes his experience as a 5 time startup founder who has guided one of his companies to IPO and two others to sales and gives us some insight into how to create a culture on innovation. Innovation is the word of our times. In today's demanding business environment, there seems to be a "innovate or die" mentality, which leaves very little room for companies who are not constantly thinking about how to squeeze every ounce of value they can afford to capture and retain. A global study commissioned by the American Management Association found that two thirds of all the companies they surveyed considered innovation to be either "extremely important" or "highly important".
Advertising Industry Undergoes Massive Shakeup
"Ad quality is the #1 risk top-tier web publishers face. Our goal is to help publishers protect their brand and make sure the user experience isn't sacrificed or violated by providing technology and service that directly addresses and solves top concerns of ad quality," said Frank Addante, CEO and co-founder of the Rubicon Project. "We aim to improve the efficiencies between ad networks and publishers to create a more harmonious and lucrative online advertising industry, especially in these trying economic times. No one else is providing the same level of support and innovation for publishers when it comes to ad quality."
What is a Culture of Innovation?
Are there a set of requirements or necessary building blocks for this culture to exist? "The Quest for Innovation" an independent study conducted by the Human Resources Institute, found that there are in fact 14 critical factors in developing an innovation organization. Some of these factors include:
- taking on a customer-centric approach that is not afraid to allow customers to become actively involved in the design or
- even the go to market strategy
- teamwork and collaboration
- appropriate allocation of time and money (resources)
- open communication
- the ability to select the right ideas at the right time.
These top five attributes are only the initial entree into the Q for I expansive study.
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The Think Tank's VP of creative outlines
six steps to build a work environment that fosters innovative thinking.