Embed Size (px)
Citation preview
INNOVATION IS THE HOT BUZZWORD TODAYEvery CxO has “Innovation” on their minds
Companies are acquiring startups at a rapid pace to acquire innovations and innovative teams.
Few companies are happy with the level of innovation in their organization
WHY AREN’T COMPANIES INNOVATIVE?Innovation is inefficientInnovation is disruptiveInnovation is distractingSometimes they don’t recognize it when they see it.
INNOVATION IS INEFFICIENTAlmost by definition, an innovation starts out rough and then gets improved.
If it doesn’t – you’re spending too much time working on it
INNOVATION IS DISRUPTIVE Big surprise – that’s why we say we want it
Unless the disruption is our core business Unless we’re not set up to take advantage of it Unless we find that someone else is more agile
Know that it’s disruptive and have a plan for how to handle that. Integrate Innovations into strategic plans Be prepared for surprises If your organization is too large to be agile, allow small groups to act as scouts and pilots
INNOVATION IS DISTRACTINGWho wants to work on the old stuff?All the smartest people get pulled out of keeping business operating
Pivots make long range planning distracting and difficult
Looking out for others innovating keeps your eye off your internal ideas
I’LL KNOW IT WHEN I SEE IT That’s almost never the case
Key people became that way because they bought into the current thinking
Innovation is almost always slower and more costly to begin with
Recognizing new ideas worth investing in is a skill all to itself.
Past performance does not guarantee future results
A lot of innovation is luck
SO HOW DO YOU DO IT?Create cross discipline teams – not just your wunderkinds
Create a budget – and let it run it’s courseGive authority to the teamsAllow great exposure, but avoid micromanagement at all costs
Set regular delivery milestones, even if they’re just communication to the rest of the company
THE PENULTIMATE INNOVATION DILEMMA
DISCUSSION
IASA TALK NEXT WEEKWe’ll go through a project that started with automotive window motors and ended with representing $6.5B of research.
Oct 22nd 6-8pm.Find out more at http://www.iasaglobal.org/ - Austin chapter
