Fresh thinking | Paul4innovating Innovation Views

Reflections from a tough 2010 for innovating differently in 2011

So here we are already in December. Budgets are being argued, numbers fixed, concepts and plans discussed, and those higher hopes that you can build out for a successful 2011 through innovating differently beckons.

Tell me what did we learn from 2010 from an innovation perspective that we can build upon in 2011? Here are some of my thoughts

For me, a number of important lessons or impressions come out of 2010 that I’ll continue to build upon in 2011 as areas of opportunity for changing, challenging or clarifying. These I simply summarize in ten points for this blog:

I felt 2010 was a ‘crossing point’ in innovation maturity to position us in 2011. We began to consolidate what we know, explore with growing confidence what we didn’t know and experiment in-between.

That was healthy in such a tough year of uncertainty. Now we need to build on this in different ways.
Continue reading “Reflections from a tough 2010 for innovating differently in 2011”

Building for the Innovation Business Case

One of the toughest aspects within Innovation is making the Business Case.

Much of the information is imperfect, the returns are often fuzzy and unclear in the early stages and the doubters line up ready to block and deter new ideas from entering the commercialization process.

Justifying new innovation can be often really hard to make for others.

How can you reduce down many of these uncertainties?

Often what is missing is ensuring the innovation business case takes a clear methodical approach and builds the arguments up in a sound structured way.

Far too many cases are based on emotion and gut feel. Some of these clearly work but an awful lot get lost along the way, especially in the more structured organisation.

So often good ideas are ‘killed’ because the Business Case was not as well thought through as possible. It simply became the necessary chore at the end of a set of events that were in themselves a mountain to climb.

It is putting together the best possible business case is the last nine yards, sometimes the hardest to achieve but the accumulation of all your efforts rest on this document in many cases.
Continue reading “Building for the Innovation Business Case”

Placing Design into the Innovation Equation

Let me be clear, this is not my blog entry I really wish it was. It is the relevant part of a blog written by Sarah Stein Greenberg (http://ideas.economist.com/blog/design-mind) that just seemed to hit one of those ‘buttons’ that sum something up so well, and in this case, I think the best compliment is to just share it. I’ve put in what I feel are appropriate headings for ease of reading only.

It is about the power of design and interaction to make something new happen fast.

Tackling messy problems

“A pressing question for more established economies… is how to foster more entrepreneurship and innovation despite greater stability and predictability.

One method that companies and individuals are adopting is design thinking—the approach of scaling or “group-sizing” the way that solo designers have always worked to enable to cross-functional teams tackle messy problems that don’t fit neatly into any one person’s job description or academic discipline.

Design thinking is one way to simulate some of the extremely dynamic conditions of an emerging economy and foster entrepreneurship in the US.

Forcing direct contact with users
Continue reading “Placing Design into the Innovation Equation”

Thinking over dynamic capabilities for innovation success

The innovation fitness dynamics for innovating capabilities

As someone who runs a small, independent consulting and research business that is 100% focused on innovation, the focus has to be on capabilities so I am always grateful for the continued involvement of the bigger consulting companies in producing sound, relevant and topical research issues on innovation and the building out greater, well-researched understanding.

Large consulting organizations ‘stoke the innovation fire within’, they confirm what you felt you knew but needed it to be validated. These great sources include McKinsey, Bain & Co, Booz & Co, Monitor, BCG, ADL and to a lesser degree Accenture for innovation research.

There are others but the ability to have access to C-Level thinking is this groups real strength and so they come more immediate to mind.

The emphasis is on distinct capabilities for innovation success.
Continue reading “Thinking over dynamic capabilities for innovation success”

Shifting to the 21st Century Business models

Gary Hamel is amazing, he is constantly thinking about the future and lays out how to get there; he has been doing this repeatedly for years, this time it is discussing the innovation drags we presently have and how they are holding back the 21st Century business models.

One quote of his seems to hit home for me especially “The real brake on innovation is the drag of old mental models. Long-serving executives often have a big chunk of their emotional capital invested in the existing strategy”

A real big challenge is changing old mindsets but how?

Today, the value of Business model innovation seems to be a critical part of breaking out of the old and finding new avenues to growth and prosperity.

The trouble today is the existing mindset of the manager is often the major block to challenging the existing business model and working towards a real change.

This lack of realisation is increasingly allowing the young usurper, the entrepreneur, into seizing the opportunities and seizes the initiatives of the very growth needed by existing businesses. Continue reading “Shifting to the 21st Century Business models”

Grounding innovation through convergence and intersections

Jobs-to-be-done seems to be a real convergence point for many innovation thinkers. This needs to be more central in our innovation thinking it seems to me.

Discovering intersections is where ideas collide, according to a theory brilliantly put together in a book some years ago by Frans Johansson called “The Medici Effect”. Johansson recommends we step into these intersections and then you can see how different thinking can meet head to head, as in this case from numerous innovation experts, to give you a deeper insight into your own innovative thinking.

I often have a habit of opening up a file on a subject when I feel it needs further exploring and jobs-to-be-done has become one of these. It is the convergence of many experts repeating sometimes their personal mantras has finally given me a growing realisation on how important this understanding of satisfying these jobs-to-be-done becomes too successful innovation.

Now this ‘light bulb’ moment of mine may not come as such a great surprise to some of you selected few but I’d argue it might be worth reflecting upon by taking a fresh look at this ‘idea’ of jobs-to-be-done a little deeper in your thinking also. There are many who tell you we should.

The power of many innovation thinkers Continue reading “Grounding innovation through convergence and intersections”

Business model innovation can really help Venture Capital assessment

I believe the Business model canvas, presented by Alexander Osterwalder & Yves Pigneur in their book “Business Model Generation”, holds a very powerful way for Venture Capital to use in their assessments of promising ventures they are considering for investment.

Traditional pitches to VC’s are loaded with financial numbers, providing crisp, well written business plans pitched by teams oozing with optimism but much of this is still highly intangible in reality. There is often a decision made on the people’s chemistry more than anything else.

There is nothing wrong with that if you are the lucky ones, but tough on the countless thousands that face rejection after rejection for their ideas to attract the necessary funding needed to move their business forward.

Where the Business model canvas can fit in the VC pitch. Continue reading “Business model innovation can really help Venture Capital assessment”

Will we ever learn to manage innovation to make progress?

I was asking myself when are we ever going to really learn about how to manage innovation as we seem to make so little progress?

Reading through the latest global survey results from McKinsey entitled ‘Innovation & Commercialization, 2010’ at http://fwd4.me/cRK and you must wonder with all the activity (and hype) surrounding innovation why we do not make the type of positive progress you should expect in innovation management.

There are very positive signs innovation is emerging stronger than ever from the recent bout of economic ‘flu’ we all have been going through. The report starts on a high note “84% of all executives say innovation is extremely or very important to their companies’ growth strategy”- yippee!

The darker side is the ‘but’- “little has changed in the way they generate ideas and turn them into products and services plus many other challenges remain remarkably consistent”- oh dear!

Do we ever learn? Continue reading “Will we ever learn to manage innovation to make progress?”