Advancing innovation | Paul4innovating Innovation Views

The Role of Governance needed in Innovation

Later this month a book I have looked forward too, is finally being launched.

It is called “Innovation Governance: How Top Management Organizes and Mobilizes for Innovation” written by Jean-Philippe Deschamps & Beebe Nelson. Jean-Philippe Deschamps is emeritus Professor of Technology and Innovation Management at IMD in Lausanne (Switzerland).

Innovation Governance is promising to provide a comprehensive framework to help top management develop the overarching values, policies and initiatives needed for a corporate innovation constitution.

The authors are providing a framework for encouraging and focusing innovation by explaining what innovation governance is, the various models for governance and their advantages and disadvantages, how to assess and improve governance practices, and behavioural tactics for maximizing the effectiveness of governance.

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Describing the future by using the business narrative

In business, the future narrative is becoming vital. We all should care about the future and it becomes so important for us all to identify or not, as this gives us our identification.

I have found that narratives are becoming increasingly important to explain ‘things’. I’m re-learning this ‘art’ to tell a compelling story.

Our stories can combine much, communities can identify or reject, we can begin to explain complex stories by presenting a well-designed narrative that presents the arguments. It can explain the connections and outline the issues, both in terms of risk and opportunity.

I think business narratives will become essential for our organizations to use to explain where they are and what they see as their future.

A good business narrative should fill a real knowledge gap

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Knowing the Value within your Business Model is Vital

Last year I provided a guest post to Patrick Stähler’s Business Model Innovation blog and wanted to add this to my own site as I think it does place the focus on finding value within any business model design.

I think Patrick’s business model lends itself to this constant focus on value. Patrick runs fluidminds, based in Zürich, Switzerland. fluidminds helps its customers to think by challenging existing business rules, offer structured thinking and different perspectives on the strategy process and support the execution.

Patrick wrote his thesis about Business Model innovation in the digital age and from this emerged his unique ‘take ‘on working through the business model. Patrick has been dealing since 1997 with questions around how the web changes Business Models and how Business Model innovation should and could look in the digital economy.

fluidminds wants to create new businesses and to shape industries with business model innovation, with a large part of Patrick’s practice centered on German speaking markets but he has consulted across numerous English speaking ones as well.

So in my guest post I put forward this three point view of value. Continue reading “Knowing the Value within your Business Model is Vital”

Taking on those innovation hills is never easy

Following on from my last post suggesting the way to move innovation forward, it was to ‘take the different innovation hills, one at a time, for innovation advancement” I used a military metaphor of “taking the hills”.

So what are the hills we need to take?

There are plenty of innovation hills to attack but here are ten suggestions that would advance the cause of innovation and establish its territorial importance in the organization somewhat.

Some hills maybe on first glance, seem not so important but they all move towards setting up the winning conditions for innovation to become a core within organizations. Some are sending clear signals of intent; others show the fighting commitment necessary to take that hill because it is strategically important.

Hill one is by abandoning quarterly reporting

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Taking the hills, one at a time, for innovation advancement

Taking the hill. Pfc. John J. Allen of Company E in the 25th Infantry Division leads his men in attack on the west central front in Korea, March 30, 1951.

How do we move innovation forward? We need to see this as a battle of hearts and minds, of overcoming dogma and fixed mindsets, using skirmishes to advance the innovation advancement. We need to break out of entrenched positions and lead innovation forward.

Many people feel innovation is an uncomfortable place, it often is at the edge, it deals in both opportunity and risk, it is uncertain to commit to joining the innovation battle. Sadly the majority working within our organizations do not understand innovation, it is too intangible, it seems shrouded in mysteries, yet it offers challenge, excitement and satisfaction. To achieve ‘something’ is highly motivating.

We firstly need to mobilize around innovation

To mobilize the organizations troops you have to give them objectives, they need to identify and be given a clear understanding of the ‘cause and its effect’. Over time they can recognize the positive effects and begin to understand the consequences if they don’t join in and engage.

Let me use a military metaphor, in war for this post.

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The role senior executives must fill for innovation success

Jeffrey Phillips of Ovo Innovation and I wrote a White Paper, we called our foundation document, on “Accelerating or inhibiting innovation – understand your role for innovation success”. You can read the full paper here

We strongly believe there is a real Innovation leadership gap

My last article “Developing talent to drive innovation” was questioning the spending of new funds on developing talent for innovation, unless the organization and its leadership is not clear on what it is specifically looking for, or how it is prepared to back their words with specific actions beyond ‘just’ new funding levels, then this might not be money well spent.

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Developing talent to drive innovation

I recently participated in a survey for APQC that was looking to identify the hot topics within product development and innovation. One or two hot spots surprised me, others less so.

In the round-up of results almost two-thirds of survey respondents have placed refining the identification of customer needs and remaining competitive in terms of profit at the top of their product development agendas. I like the increasing emphasis on identifying customer needs

Among the potential research areas respondents were asked about, they felt that developing talent to drive innovation was the most important. The second one was around rapid product development: How to Move Products to Market Faster.

The one that really caught my eye was organizations have allocated the most funds to improvement in developing talent to drive innovation. This is heartening but also a worry.

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Facing the future or staying locked in the slow lane of the past?

Today we face unprecedented change; organizations are being hit on multiple sides, often by a bewildering set of forces to make them feel the immediate need is to go back into themselves, to be more inward than looking out and being open to facing the future. There is this feeling today of being battered. Organizations are feeling the full force of the winds of business and global change.

Stopping, reflecting and then moving on.

Organizations are grappling with how to navigate through an unprecedented set of early 21st century challenges. How can they adjust to a more open and transparent world, a more fluid and adaptive one, that needs to be replacing the one we have been operating within all of the last century? One that seems to work no more as its very foundations seem to be crumbling. Organizations are in a period of relearning and understanding these ‘new’ forces at work. Continue reading “Facing the future or staying locked in the slow lane of the past?”

Innovation requires the nesting of all capital

Innovation cannot exist without all the capitals that contribute to its make-up. Yet we simply fail to appreciate all the capitals that innovation requires. It is a real pity as they are truly nested.

Equally many innovators are simply not prepared to put in the necessary work to achieve this understanding and the organization’s innovation looses out, stuck in perpetual incremental mode, lacking in anything really new or radical.

All the capitals ‘fire’ innovation. They make innovation combustible.

More often than not when we talk within business of capital we tend to default to the financial kind. Of course providing the financial capital into innovation is vital; it provides the potential ‘burn’ but what is often understated and certainly under-appreciated is the other capitals. These have been ‘tagged’ under intellectual capital or are often ‘lumped’ into our intangible assets.

What we need is to recognize the real “nesting effect” all our capitals.

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Learning the mantra of innovation context

We have all got used to the statement it is all about “location, location, location” for real-estate. So what should the mantra be for innovation? I think “context, context and context”. Context is a king.

Innovation happens all around us, same as with our places where we live- it is determined by many factors but given a choice we want to live somewhere nice, safe and hopefully going up in value!

The same with innovation we want it to be good, attractive, useful and valued by many, hopefully, willing to part with their money because it fulfils their need.

Innovation should always start of by being placed in its appropriate context otherwise it will lose its initial connection, dilute in the eventual value and arrive as less desirable because we somehow and somewhere went off track

We lost the context because we never really established the real ‘sense of purpose’ for that specific innovation or given direction to explore.

Why do I believe context is the king when it comes to innovation?

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