Building Capacity for Breakthrough Innovation
Breakthrough innovations are characterized by their ability to disrupt or redefine the competitive landscape, often rendering existing solutions obsolete. They represent a radical departure from existing products, services, or processes, paving the way for new markets, industries, and value networks. It contrasts sharply with incremental…
It’s Time To Upgrade Your Innovation Management System
After the Covid-19 pandemic, many corporate innovation units felt a sense of relief. Companies were optimistic, innovation budgets grew, and there was an increased appetite for out-of-the-box innovation. However, the business environment for corporate innovators has since shifted, and they are now being asked to do more with less. This (economic)…
Leveraging Venture Building for Long-Term Returns
Corporates often grapple with the “Innovator’s Dilemma,” where the gravitational pull of the core business’s existing processes, incentive structures, and risk models stifles the pursuit of groundbreaking innovation. The dilemma is further exacerbated by corporate governance systems designed for operational excellence…
Creating Innovators, Not Just Innovations
At Chick-fil-A, innovation is not merely a process, but a culture deeply embedded within the organization’s fabric. Their approach is to develop the innovation mindset at all levels, starting with leadership and gradually influencing the entire organization. Michael McCathren, a senior innovation leader at Chick-fil-A, recently sat with…
Proving the Value of Innovation: How Innovation Departments Measure Their Impact
Companies are increasingly focusing on quantifying the return on investment (ROI) of their innovation initiatives. In an environment where results and returns are closely scrutinized, as innovation teams we must navigate the delicate balance between pursuing long-term, transformative initiatives and delivering short-term wins that affirm their…
Corporate Innovation in 2024
Whilst innovation remains a top priority for every CEO, we have again witnessed recently that when markets are uncertain and costs need to be cut, the innovation function is also amongst the first to be impacted. As a function, we’re still figuring out how we contribute to our organizations’ top and bottom line in sustainable and scalable ways.…
Turn Ideas Into Outcomes: A Framework for Maturing Your Innovation Portfolio
Innovation activity is at an all-time high. From idea competitions and startup incubators to virtual whiteboards and design thinking workshops, there is no shortage of mechanisms for brainstorming what’s possible in an organization. It’s exciting to have so many ideas to work with. But what happens next? Eventually, you need to identify which…
The Failure of Innovation Training
Innovation departments are continuing to fail. Of course, innovation projects are supposed to fail in great numbers, but the idea of a corporate innovation department itself is under tremendous pressure. The macroeconomic climate is battering companies around and leading to budget cuts across the board. Companies are focusing on the core business…
Introducing the Shift Towards Autonomous Innovation
Innovation is undergoing a tectonic shift. As AI advances, we find ourselves heading towards a new era — one where innovation is not just constant but autonomous, as Board of Innovation's founder Philippe de Ridder explains below. From Design Thinking to Autonomous Innovation In the 1990s, design thinking emerged, prioritizing empathy and…
How to Keep Innovating During an Economic Crisis
During an economic crisis, funding dries up, and innovation tanks. At the same time, a crisis presents organizations with unique conditions for innovation. As long as innovation teams have a strategic approach to solving old problems with new solutions, organizations can expect to not only survive but also thrive. Tendayi Viki, Associate Partner…
InnovationOps: the Next Evolution of Innovation Management
As innovation leaders and teams we are tasked to enable our organizations to innovate at scale. Essentially, that means driving innovation in predictable, reliable and efficient ways- doing it again and again, rather than being a one-day fly. Last year alone, over $2.4 trillion was spent on R&D. Yet 90% of executives are unhappy with their…
How To Nail Your Startup Engagement Program
Engaging with startup communities has become a must for corporations pursuing innovation. But when you set up an accelerator, incubator, hackathon series, or any other kind of startup program, copy-paste doesn't work. You need to create a program that fits your specific goals and needs. And so, how to set up an effective “startup engagement…
