To assess the ability of your organization to meaningfully improve outcomes from innovation, how would you respond to the following questions –
- Where is the next $ Billion in revenue going to come from ?
- 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.
- Is the enterprise organized around Business Units – or – areas of expertise ?
List major entities / areas / units / competencies. - Is Customer onboarding a great experience across channels ?
ie: in the Real World, Online, and in XR / the Metaverse - 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 ? - How is leadership encouraging groundbreaking business innovation ?
- 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 - How is the best talent (internal & external) identified and their competencies leveraged for advantage ?
- 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 ? - 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 info@cail.com www.cail.com 905-940-9000