Thinking about the high-level methods that Think Tanks employ to spawn innovation, I wanted to step back and first identify what a think tank is and their purpose. For the most part, Think Tanks are related to governmental policy, although that isn’t a requirement. The Think Tank business model is they produce subject matter content (typically in the form of research papers, books, or the hosting of events) which are either sold externally or provided to the investors/sponsors of the Think Tank (Park, nd). Often a Think Tank will have a specified niche. No matter the purpose or function of the think tank, there are two identified methods in which they operate (Whittenhauer, nd). First is the “One Roof” model, which is where the Think Tank is like a company, where everyone works there leveraging the resources of the firm. The second is “Without Walls” where members are more independently operating and operate via electronic communication. Often times, the “One Roof” model is quite literal. Large corporations who in themselves command a significant level of involvement into government or trade policy, house internal think tanks within their our firm.
In terms of research strategy, Penttila (2007) outlined 5 key strategies Think Tanks leverage.
- Combine Ideas
- Think Backwards
- Do Rapid Prototyping
- Create an Internal Incubation Fund
- Take it Online.
With the Combine Ideas methodology, think tanks scan the landscape looking for innovations in technology that are similar or can benefit from each other. The strategy focuses on leveraging resources of other technologies in order to develop a similar technology more quickly. An example could be the development in lithium batteries and automakers mandate to lower emissions, resulting in partial electrification of cars. The second is Thinking Backwards, this is the method of starting with the final idea or desired product and working backwards to design technology or policies need to get there. I think this is the most common form of innovative thinking in business, as you first identify the gap then solve for the solution. Next is Do Rapid Prototyping, which is a common form for manufacturing or hardware space, as you quickly develop a working model and test its functionality. It is the lack of availability of prototyping on large scale that limits its usage to the more physical space, where the object itself solves the problem without human action on a large scale. The last two, Create an Internal Incubation Fund as well as Take it Online are not really strategies in my opinion, as much as alternatives when you hit the wall. These are methods to shake up the thinking and see if my changing the dynamic a new innovation may pop out.
References:
Park, N. (nd). Introduction to Think Tanks. Wellesley College. wellesley.edu/careereducation/resources/introduction-think-tanks
Penttila, C. (2007). 5 Big Biz Think Tank Techniques. Entrepreneur magazine. entrepreneur.com/growing-a-business/5-business-think-tank-techniques/174688
Whittenhauer, K. (nd). Effective Think Tank Methods. Classroom. https://classroom.synonym.com/effective-think-tank-methods-5728092.html
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