Business Innovation is challenging. To gain perspective on this –
Species are hard wired to mate.
This is important for the species to pro-create / have a future.
The secret sauce for this to occur is sex.
And even with this, + 90 % of all species that ever lived on earth, aren’t here today !
Regardless, life is evolving ….
Similarly, for organizations to evolve, there is a need to successfully innovate with new capabilities (typically digital services) having high appeal / value with a secret sauce, and an entrepreneurial culture that is about scaling / failing / learning fast.
Also important to be successful (and beat the odds) it’s about –
A. being good at art and science (vision / inspiration and process / structure)
B. recognizing “ Innovation “ occurs by –
With this understanding and that many game changers / paradigm shifts typically start off small, leadership needs strong look ahead – that is smart and patient (and can get past the many failures associated with innovation). As well, there is a need for enterprises to be good at both forms of innovation to “ Innovate for Impact “, or experience slow irrelevance and eventual demise.
To win (be relevant going forward), it’s also important to see, create and connect the dots. Among other things this includes –
1. Monetizing Value Creation
2. Better Managing Risk
…. to meaningfully improve outcomes from innovation.