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The
market data is unequivocal – only innovation can drive above
average market performance on a sustained basis. But not just any
kind of innovation. In the past, innovation at the product
level was sufficient to drive superior performance. But in today’s
economy, it increasingly requires innovation at the process and
business model level to make a real, competitive difference.
Many
organizations implemented a first generation innovation process –
often modeled on the commercial venture capital model of grass root
ideas attracting capital. Perhaps yours like many, was an interesting
experiment that was cut when the economic climate got harsher. But
does this mean innovation should be stopped? Of course not. The failure
of many of these experiments was due to the wrong model and the view
that innovation was a separate activity - keep away from the
traditional lines of businesses. But nothing can grow in vacuum. Innovation
needs to be systematic and systemic in your organization. It must draw
on the assets that your business already has, whether they are hard
assets like plants and machinery, intellectual assets such as
specialist knowledge or patents and intangible assets including
relationships.
Historically
businesses established
a funding funnel or stage-gate process, with a flow of business ideas
and innovations entering the funnel. As the business ideas moved along
the funnel, decisions were made as to whether to continue to fund the
individual ideas. The problem is that invariably very little comes out
of the other end of the funnel!
Why
have these programs so under-delivered? Because they are based on the
wrong model. Unlike the classic VC model, corporate innovation and
business development must be a generative process that enables
continuous innovation and the continuous development of more and more
options. The classic funnel actually serves to reduce options over
time. So, the funnel must be flipped!
Systematic and systemic innovation should also be seen as a
strategic lever in maximizing investments and minimizing costs and
duplication.
Do
you need these kind of results in your business?
Greatly improved generation of viable new options
that are based on your existing capabilities
Integrated approach that builds from current product/service areas as
well as looking for 'whitespace' opportunities.
Enhanced and rigorous decision-making paths on options, to maximize
investments and minimize costs and duplication
Systematic and systemic approaches to creativity and innovation that
can be integrated with your existing business processes
Strategic informational advantages of marketspace and
competitor dynamics
Next
Steps
We offer seminars, workshops and innovation fieldtrips as
kick-off/introductory events to familiarize you with our leading edge
practices. Contact us to talk more about
how we can help you reach your goals.
Read our pioneering and prescient work on 'Flipping the Funnel' in this
introductory article and early work (while others were focused on
making better widgets) on innovation in the Frontiers of Innovation white
paper.
Let's talk about your business goals: we value your time so we'll
quickly tell you if our
skills are a good fit. Initial contacts
can be directed by email
or to our US headquarters by phone on +1 832 242 3508. We look forward
to an interesting conversation! |
