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CAIL Innovation Blog

Assessing the Ability of an Enterprise to “Innovate for Impact“ – on a Sustainable Basis

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To assess the ability of your organization to meaningfully improve outcomes from innovation, how would you respond to the following questions –

  1. Where is the next $ Billion in revenue going to come from ?
  2. To appreciate historical outcomes from innovation, list 5 major new products / services / initiatives created in the last 15 years that generate + $1B annually in revenue today.
  3. Is the enterprise organized around Business Units – or – areas of expertise ?
    List major entities / areas / units / competencies.
  4. Is Customer onboarding a great experience across channels ?
    ie: in the Real World, Online, and in XR / the Metaverse
  5. On a scale of 1 to 10 (with 10 being high) how digitally savvy is –
    A. the Organization ? BB B. the C-Suite / leadership team ?

    Given the increasing importance of delivering new digital capabilities going forward, what does this mean to the future of the business ?
  6. How is leadership encouraging groundbreaking business innovation ?
  7. What’s the plan to invest $10M this year to generate $100M in revenue / value in 3-5 years and $1B in 10 – 15 years ?
    …. the $10M to $100M / $1B Innovation Model
  8. How is the best talent (internal & external) identified and their competencies leveraged for advantage ?
  9. What’s the insurance policy to –
    A. expose great ideas or new thinking ?
    B. have good “ look ahead “ / insight on where the $ are going to be ?
    C. identify and develop the competencies needed in the future ?
    D. become a digitally savvy organization ?
  10. What’s the vision to create meaningful new value in – 5 years ? 10 years ? 20 years ?
    A. What’s the strategy to make it happen ?
    B. What are the associated success metrics ?
    C. How will “ Learnings from Failure “ be recognized ?

If interested in learning more about “ Innovating for Impact “, please contact CAIL.

Mar 7, 2023     CAIL Innovation commentary     905-940-9000

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