Strategy of Innovation vs. Innovation Strategy
Whether the companies are private or public, shareholders are demanding a vision for the future. How will these old, inflexible companies survive in industries facing disruption from scrappy, nimble, three person startups with zero budget that are miraculously gaining market share? Blockbuster CEO Jim Keyes, speaking to the Motley Fool in 2008…
Innovation: More Than Just Ideation. Where to Play? How to Win? How to Execute?
Digitization, new business models and disruptive technologies are driving complexity in every single industry. For businesses today, effective strategy and innovation management is critical for driving digital transformation, and that requires robust approaches and tools that enable collaboration and agility. Yet the word ‘ideation’ has been…
Five Reasons Why Los Angeles Became The Most Innovative City in the US
I recently came across a mainstream media article entitled: billions pour into LA as it gears up to be the next Silicon Valley. It’s true, billions are pouring into the city and there is a vast amount of innovation, however I don’t agree with the second part of the statement: Los Angeles isn’t the ‘next Silicon Valley’ it’s very different and…
Four Common Corporate-Startup Screw Ups – And How To Avoid Them
Corporate and startup partnerships are more prevalent and more necessary than ever before. While the unique symbiosis of the corporate/start-up relationship can be exciting and incredibly fruitful for both parties, the huge variants in culture, capital, and resources can throw some turbulence into things. Add screw-ups by either party into the mix…
The Greenhouse Approach: Flourishing Organizations Through Intrapreneurship
Innovation is infectious. Its roots lie in debate and contention and it flourishes in an environment that welcomes the challenging of assumptions, risk taking, and creativity. That’s the focus of Chitra Anand’s new book, The Greenhouse Approach: Cultivating Intrapreneurship in Companies and Organizations, which re-imagines what corporations can…
Is Creativity Really That Important For Innovation?
Creativity is probably the most discussed component of innovation. People and teams want to have more of it. Leaders want to discover how to direct and amplify it. Researchers try to define and measure it. Innovation companies sell their ability to develop it, thereby boosting the quantity and quality of ideas in an organization. That’s why, when…
Innovation Accounting – The Anti-Procrustean Approach To Key Performance Indicators
In Greek mythology, Procrustes (in translation ‘he who stretches’) was a rouge blacksmith and bandit from Attica, owning a house by the side of the road where he offered hospitality to passing strangers. His guests were invited in for a pleasant meal and a night’s rest in his very special bed — a bed that allegedly had the unique property that its…
Necessary Disruption: The Path to Adaptive Spaces
In order to survive in the increasingly frenetic, rapidly evolving world of business, organizations must disrupt or be disrupted- even when that means disrupting your own business. That can’t happen without a paradigm shift in the way companies approach innovation and change. Corporations must recognize that organizational adaptation is social.…
The Six Values of High-Performance Innovators
There is no long-term correlation between the amount of money a company spends on its innovation efforts and its overall financial performance. That is the outcome of an analysis by Barry Jaruzelski, Robert Chwalik, and Brad Goehle for Strategy+Business. During an evaluation of 1,000 publicly held companies (the Global Innovation 1000) with the…
Exponential Growth? Start with a Massive Transformative Purpose
Companies like Google and Facebook have been able to transform the world- not because they had magical laptops or garage dwelling genies on their side, but because they began with what author and entrepreneur Salim Ismail calls a massive transformational purpose (MTP). In 2014, Salim Ismail published Exponential Organizations, co-authored by Mike…
Five Steps to Innovate like Big Tech – How to Use Customer Focus, Data and Capital to Reinvent Your Business
Executives in 2018 are not grasping the basics of modern innovation. Having led major innovation programs at Amazon, Target, PayPal, Visa and Rosetta Stone – this summer I was asked to speak at an executive leadership conference, where I was surprised to learn that the majority of participants lacked a basic understanding of mobile, web, digital,…
Unlearning Innovation Portfolios for Outcome-based Bets
I’ve been working with the executive group and teams from one of America’s leading finance services trading firms. The company has a proud history of disrupting its industry by offering innovative products and services that have shaken the finance system and caught many of their competitors off guard. From humble beginnings 20 years ago it has…
