The Innovation Diaries

How Google fuels its Idea Factory
“You can do whatever you want as long as you track it. We have very sophisticated measurement systems at every stage of launch. We have what is called trusted testers. Then beta test, which is forever. We do these 1% launches where we float something out and measure that. We can dice and slice in any way you can possibly fathom. What’s more important than the absolute number is the relative growth rate. High growth solves virtually all problems. If the growth rate is low, or negative, you’ve got a serious problem.”

Applying Design Principles To Meetings
“A bulletin board in the kitchen was turned into a sort of ongoing conversation about issues and ideas to be discussed. And to introduce some fun, at each meeting a randomly selected employee gets a custom bag, designed to reflect his or her personal interests or hobbies. “This ritual reinforces that we make stuff, that we’re a creative company, that we care about individuals,” says Klebahn. “It also gets lots of laughs.”

Mars teams up with Warren Buffet to buy Wrigley
“Mars has joined forces with billionaire investor Warren Buffet to buy chewing gum giant Wrigley Jr for US$23 million, in a move that will create the world’s largest confectionary player. The merger will enable Mars to expand into areas where Wrigley is strong, such as Eastern Europe, while also allowing the latter company to grow beyond its core chewing gum business.”

List of the week: Google is world’s most valuable brand, according to Millward Brown.
“Google was named number one in Millward Brown’s annual top 100 global brand power list for the second year in a row with a 30 per cent year-on-year increase in its value. Last week, Google posted a 31 per cent surge in quarterly net income and said it is well positioned for growth even if the economy weakens further.”

Holy cow fact of the week: Sixty-nine percent of young mothers ages 18 to 34 in the US have incurred medical debt.
“That compares to 30 percent for all U.S. women, according to the “What do Women Want?” survey of 3,000 women conducted by by Meredith Corp. and NBC Universal. The survey also says two-thirds of women cite financial strain as a major threat to the American family — and a much bigger threat than divorce, loss of faith/spirituality, liberal views on sex and sexuality, both parents working, unwed mothers and couples living together. Forty-six percent of women are extremely concerned about rising healthcare costs and 18 percent reported they do not have health insurance coverage — 24 percent among single mothers with minor children.”