- The longer established organizations take to get good at “ Innovating for Impact ”, the more time they’re giving the Silicon Valley crowd to take them out.
- Being accomplished at “ Innovating for Impact ” on an ongoing basis is essential for long term business – value creation, growth, and strategic evolution.
- “ Innovating for Impact ” in business requires being equally good at H1 / H2 / H3 -or- Incremental / Sustainable / Disruptive innovation to better position the organization to achieve objectives –
A. like having good singles, doubles, and home run hitters on a baseball team
…. and find a way to deal with Sluggers (like those doing Disruptive Innovation in business) who tend to strike out a lot and can be temperamental but better enable their team to – win by cashing runs, garnering attention for the game and their team, growing revenue by filling the stadium, etc. + recognize no team ever won the World Series without a few Sluggers in the line up !
B. with businesses people viewing a project that didn’t pan out as planned as a learning experience and part of a Portfolio Strategy to – deliver new capabilities , provide more value , expand the options to engage for new business , etc. - “ Innovating for Impact ” is imperative (not an option) for an organization to be successful
- You can measure on how good an organization is at “ Innovating for Impact “ by their – increasing corporate valuation , rate of sales and bottom line growth , C-Suite digital orientation and sophistication , their improving business model and outcomes , ability to create new value expand opportunities , success in redefining their organization and their industry, etc.
- Being good at “ Innovating for Impact “ requires a certain mindset with the need for you be – accomplished at knowing where the $ are going to be , open to new notions of value , flexible on how to create new value , good at learning fast , adaptive to progressive change , able to view failure as a learning opportunity , digitally oriented , confident in your abilities , able to recognize the competencies of others, humble , considerate with people , etc. And realize, because all these elements are needed is why “Innovating for Impact“ is a team endeavor and is hard.
Summary
For all these reasons, if the goal is to “ develop the mindset to Innovate for Impact “ to meaningfully improve outcomes, it’s important to know how to look at things and do what it takes to do to make things better.
CAIL Innovation Insights info@cail.com www.cail.com 905-940-9000