Strategies for Enterprises to Innovate for Impact

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  1. Develop high competencies in H1 , H2 , H3 Innovation
  2. Be very good at creating value , monetizing value creation , and mitigating risk
  3. Have Internal and External Personal collaborate on innovation strategy and initiatives as well as being accountable for outcomes
  4. Identify progressive people and encourage them to be entrepreneurial, develop an innovation mindset, and understand the changing nature of risk
  5. For the organization to innovate for impact, have the CEO and other C-Suite Executives as well as at least some members of the Board of Directors be Innovation Champions
  6. Form a Brain Trust of people having very strong business and technology competencies as well as a portfolio / venture capitalist mindset – who are out to make a difference
  7. Identify and launch innovation initiatives that have high potential that can meaningfully  improve outcomes
  8. Collaborate with others knowledgeable about identifying and investing is startups having advanced capabilities and a high value proposition
  9. Collaborate with Incubators, Accelerators, Venture Investing Organizations, Research Institutions, Labs, Think Tanks, Universities, etc. for forward looking insights and opportunities
  10. Become a Customer for startup products and/or services you can use in your business
  11. Be good at getting results by being a strong communicator, future oriented, curious, understand the odds, adaptable, agile, etc.

To learn more, see  Innovation for Impact  or send a message to  info@cail.com

Nov 23, 2020      CAIL Innovation commentary

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