Thomas Edison said it over a century ago: Genius is 1 percent inspiration, 99 percent perspiration. Unfortunately, no one listened. When companies launch innovation initiatives, they typically allot almost all of their time and energy to that initial 1 percent – the thrilling hunt for the breakthrough idea. The real innovation challenge, however, lies beyond […]
Tag Archives | Collaboration
Corporate Venturing, i.e. corporate engagement in external and internal ventures, plays an evermore critical role in fueling the innovation engine of larger companies. Most of those activities have a non-incremental innovation focus in nature, commonly targeted at bringing about radical, yet sustaining opportunities to adapt/extend the current core business (e.g. digitalizing products, services or operating models) exploring novel disruptive opportunities (e.g. technologies, business models […]
Being faced with disruption and increasing pace of change, many established companies fail to keep up. They often turn out to be ill-prepared to innovate under uncertain and time-critical conditions. Rather than going it alone, some companies reach out to suitable partners with the aim to build up innovation ecosystems that complement the companies’ capabilities, competences and strategies. A decisive question is: What types of ecosystems […]
The notion of Agile seems to be on everybody’s lips these days. Studies have proven agile companies to generate above-average margins and revenues up to five times more often boost average innovation success rates to 39% from 11%, in complex projects even up to six times that of conventional approaches But what actually is Agile Innovation? Bain captures the essence in a […]
Research shows that growth fueled through organic innovation is more profitable than growth driven by acquisition, in part because the organizational capability required is vastly different. But the litmus test is: How can established organizations build successful new businesses through corporate entrepreneurship, also referred to as Intrapreneurship, on an ongoing basis? This is also one of the key questions that […]
This is an excerpt of a post of mine, recently published at Haydn Shaugnessy’s journal “Hack & Craft”. Modern Dual Corporate Innovation Management approaches encompass two complementary directions of impact: Transforming the Core (by largely changing or even disrupting the existing operating model) Creating the New (by largely changing or even disrupting the existing business model) With […]
To understand the challenges and opportunities associated with digitalization, MIT Sloan Management Review and Deloitte surveyed more than 3,700 business executives, managers, and analysts from organizations around the world. They have recently published their findings in a report, titled “Aligning the Organization for Its Digital Future“. Some key outcomes (quoted and depicted in an infographic) as well […]
In previous posts, I have shared my view on important cornerstones for successful innovation management systems. As pointed out several times, balanced and up-to-date innovation management requires organizational ambidexterity, i.e. the capability to explore novel offerings and capabilities while simultaneously exploiting existing ones. In the following, I would like to summarize and complement these thoughts by suggesting an innovation management model that may help organizations to innovate more […]
As outlined in earlier posts, organizations need to balance exploitation (i.e. development of existing business) and exploration (i.e. creation of new businesses) in order to thrive on the short and long term. The corresponding integration of incremental and radical innovation can basically be achieved in different ways: Building ambidextrous and lean startup capabilities Established organizations with larger size usually target at extending their core business by incementally […]
Among others, Tim Kastelle (here and here) and Paul Hobcraft (here and here) have recently highlighted the increasing importance of business model innovation. A newly published report from the IBM Institute for Business Value confirms this point, the need for balanced innovation portfolios and some other key issues being outlined in a previous post. I’d like to summarize the main results […]
- Scaling-Up: The Foundation September 11, 2018
- Digital Innovation Units: Recommendations, Trends and Conclusions September 7, 2018
- Innovation is About Getting Beyond the Idea September 2, 2018
- Venturing Activities in Corporate Innovation: Types, Features and Success Factors August 4, 2018
- Dual Innovation Ecosystem Strategy: Broker vs. Orchestrator August 3, 2018
- A Model for Integrative Innovation Management March 21, 2016
- Integrative Innovation February 19, 2013
- Innovation and Organizational Culture February 14, 2015
- Balancing Innovation via Organizational Ambidexterity May 29, 2013
- Innovation and Serendipity May 23, 2013
- Leveraging New Ventures for Innovation July 21, 2014
- The Firm of the Future Will Manage Two Types of Businesses January 20, 2017
- Bad Innovation Systems Beat Good Innovators (Almost) Every Time March 26, 2017
- Integrating Lean Startup and Design Thinking February 1, 2014
- Balancing Innovation via Organizational Ambidexterity – Part 2 August 12, 2013
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