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Originally posted on HBR Blog Network - Harvard Business Review:
If your company puts you in charge of developing a foreign market or a new line of business, your challenges are in many ways similar to those facing a startup. Before you can scale the business, you have to understand what your customers really want and value, and how to deliver it to them — and that process requires a lot of flexibility.
In theory, you have decent odds of getting it right. Unlike entrepreneurs working out of the proverbial garage, you can draw on your company’s resources to get things done. But as Steve Blank, Henry Chesbrough, and others have pointed out, that advantage is offset by the daunting fact that corporate innovators have to fight a war on two fronts. Like a startup, you have to get the market fit right, but you also have to fight the corporate systems at the same time, dealing with the…
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On the Insight Centre this is the lead feature. How Samsung gets innovations to market is based on the case we’ve recently tested on our MBA course. Some very potent learning from a well researched case that has been nailed down by Thomas and the Samsung EU Team.
We find people often get tied up with lots of definitions on what is or isn’t disruptive innovation. The whole discussion of incremental versus radical innovation can be confusing. This excerpt captures the whole story without any frills.
(Hat tip to Vox.com)
At the end of the month, you’ll be able to attend our exec programme in Sydney.
It’s two days of intensive involvement in innovation. Block those dates – 1st and 2nd May.
Harvard Business Review published our article on Stealth Innovation, detailing how to make innovation happen under the radar inside a company.
The article is adapted from our book Innovation as Usual. Excerpt of the article below:
The Case For Stealth Innovation
by Paddy Miller and Thomas Wedell-Wedellsborg
You have an idea for a daring, innovative project that could have a significant impact on your business. However, you suspect that your idea will meet with internal resistance: The innovation would upend the status quo, and chances are good that other parts of the organization will try to stop it. What’s your next step?
The conventional answer is simple: Get a mandate from the top. As many innovation experts rightly point out, only the most incremental ideas pass through the corporate-approvals gantlet unscathed. The more unusual your idea, the larger the risk that it will fall victim to turf wars, myopic incentive systems, or simple resistance to change. For this reason, innovators are often counseled to go straight to the top, secure backing at the highest possible level, and build a corporate sense of urgency around their ideas.
The “top first” strategy, however, carries its own risks. CEOs of large organizations are constantly barraged with proposals for new, untested projects, and typically, the ideas get a five-minute perusal followed by a “no.” And even if your idea does win support from the C-suite, early exposure is a double-edged sword: It buys you legitimacy and resources, but it also thrusts you squarely into the corporate spotlight—and that can be a dangerous place for young, unproven ideas. Our experience working with innovative managers has revealed an alternative approach: innovating under the radar. [...]
Our new study of Chief Innovation Officers, surveying 260 innovation executives and done in collaboration with CapGemini, has now been released and has been picked up by Wall Street Journal, Forbes and others.
Among the main conclusions:
- 43 percent of companies now have a Chief Innovation Officer, up from 33 percent last year, but the role is still nascent and undefined.
- The number one obstacle for innovation is the lack of an explicit innovation strategy – something that 58 percent of companies do not have.
- Only 26 percent of companies have clear Key Performance Indicators for innovation
Paddy Miller was a speaker at the Creative Innovation 2011 conference.
A good post from K@W on innovation panelists’ definitions of innovation accompanied by examples from their companies.
Booz & Co. has released its annual Global Innovation 1000 survey results. This year’s edition is called Why Culture Is Key. To its thread of the importance of aligning innovation strategy with overall corporate strategy, Booz adds the importance of aligning a company’s culture with its innovation strategy.
We have been emphasizing the link between culture and innovation for some time now. It is fairly self-evident however that bolting it down becomes more difficult, as can be seen in the Global Innovation 1000 report – the authors’ most relevant finding is that “there is no statistically significant relationship between financial performance and innovation spending…” but they still proceed to dedicate more than half of their study to reading meaning into that non-existent link.