Innovation Ecosystems | Paul4innovating Innovation Views

So Welcome to the Age of Digital Innovation

Digital technology is about to become the precursor for all the changes we have put off for years within our organizations.

We need to radically improve our abilities to engage, relate and discover new innovation opportunities at a completely different level of faster performance.

There are many issues both strategic and tactical to work through, to extract the rich potential from any digital transformation for new innovation growth outcomes

The final part of a seven-part series – new dawn or your worst nightmare?’
Continue reading “So Welcome to the Age of Digital Innovation”

Connected Enterprise, Connected World with GE

I was delighted to be invited onto a panel with GE at their R&D centre in Munich this week forming for me a connected enterprise and a world perspective that one rarely gets without being present and engaged with companies like GE.

Dubbed “Innovation Breakthroughs – Igniting Europe’s Growth” They were celebrating 10 years of the opening of the centre and as you arrived, you saw the cranes at work to double the facility as well as further deepen their commitments within the surrounding community even further.
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Seeing Your Innovating Future Across Different Horizons

The three horizons offer us much to frame our innovating future
Following a couple of recent posts on reflecting on the three horizons methodology, firstly here and then here, I wanted to come back to where I see real value, in managing your innovating future.

The 3H methodology enables us to look out into the future, across three different horizons that can manage the transition between the short, medium and long term in our innovation activities, something often badly lacking in most organizations’ thinking.

It allows us to gauge the challenges, adding aspects we are beginning to gain a sense of, transitioning from one position to another. It allows us to deepen our evaluation of the innovation portfolio of activities, resources and skillsets across different delivery frames of the short, medium and longer term.
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Asset Orchestration is Required for more Dynamic Innovation

We all should recognize the incredible power of orchestration that is needed in innovation to bring the initial idea into a final successful commercial concept.

We have an ongoing need to create, extend and modify resources constantly and to achieve this we need to orchestrate and enable those resources to exploit and execute our innovations.

We need to ‘asset orchestrate’.

One of our blind spots is perhaps the focus on pursuing and organizing around innovation just within an organization and not being as aware of all that is externally going on around us.

There are continued and rapid shifts taking place outside the walls of our organizations, constantly occurring and changing, often it becomes a ‘race’ between spotting an opportunity and executing on it before your competitors do, or the market further moves on and it becomes a lost opportunity to have exploited.
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Place Your Future Bets – Invest In Innovation Capital

Recognizing the value of our innovation-related assets is where the smart money should go, and then we need to invest in innovation capital. To gain growth and improve productivity is through innovation. We need to translate knowledge into new values.

When you pause and consider the make-up of Innovation Capital you realize it makes such an economic contribution and in a report from McKinsey & Co, they have set about identifying this to produce the above summary, covering 16 countries, to understand the real value of this Innovation Capital.

These numbers are big and still don’t fully capture everything associated with innovation as much remains ‘hidden’ or ‘attached’ to other activities as well.
We need to shift our thinking on what makes up Innovation Capital
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Innovation is like a tropical rainforest constantly needing attention

I describe innovation as very much like a tropical rainforest, needing constant fresh attention, similar in its management,

There is my need to cut down certain trees, clear away a lot of the floor covering to allow the sunlight in and permit those ‘selected innovation trees’ to be allowed to grow stronger.

We all have those times where we need to choose, to pursue clearer pathways we believe are better for us. To be more selective in what we do, to be more focused and hopefully achieve a better, lasting result that hopefully offers a more satisfying set of outcomes, to both clients and to ourselves.

Within this comparison I am presently making of innovation being like a forest, I really began to see so much more of a connection in what is happening around innovation that it can be compared to understanding a tropical rainforest. There are many comparisons, let me outline some of these here.

The ecosystem within the rainforest is also needed for innovation to work effectively Continue reading “Innovation is like a tropical rainforest constantly needing attention”

Agility and Innovation in an Increasingly Open World

Can we reset the clock? Or do we look afresh? How can we plug innovation back in? How does Agility figure in this? Knowing the answer to evolve innovation in an increasingly open world is never easy.

Can you drawdown and still rely selected parts from the past or do you need to step back and see emerging patterns in different ways? Can you make new connections but recognise the value of past learning but combine these differently? I think yes.

I’ve been taking some time out of the daily innovation business to look towards where I’d like my future direction for innovation to head. These are early days and as I learn, I sure I’ll pivot to emerging market needs within the innovation advisory market place.

I feel there are nine primary components that are making up my shift in my innovation focus for my future focal points. These are not, at present “written in stone” but I feel can move my innovating work towards a higher maximization of value for my advice to clients. Perhaps this will also allow me to have a sharper focus.

Let me share these:

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Work to be done is innovations invisible hand

Back in 1776 Adam Smith in his book “The Wealth of Nations” discussed the concept of the work to be done and this applies so much to innovations need of where to focus our future efforts.

This has fascinated me for what we need to do for achieving any new innovation, it is the ‘work to be done’ that generates and pushes boundaries beyond the existing. This ‘classic’ book has become regarded as the one that described the birth of modern capitalism as well as economics.

Adam Smith also introduced the concept of ‘the Invisible Hand’ as a core part of his thesis, that man’s natural tendency toward self-interest – in modern terms, looking out for No.1 – results in prosperity, not just for the individual but for society. ‘The invisible hand’ is essential for free markets and capitalism, through how it generates wealth in competition for scarce resources.

By maximizing their own interest as the direct intention, this ‘invisible hand’ also stimulates those around you and in the society you belong. As you seek to leverage your own assets, you are promoting society as a whole. Today this can be more by design, or through an unintended consequence of how knowledge flows.

Arguably the ‘invisible hand’ can today be seen as realizing all our potential, individual and collective, exploiting all available existing assets for benefit and gain. We call these our tangible and intangible assets. Often overlooked, or under-appreciated are those more intangible assets, that can significantly differentiate, are surely today’s ‘invisible hand?’ Continue reading “Work to be done is innovations invisible hand”

Innovation is like a Rainbow

Last week I was driving home after a round trip of 700 kilometres and as I got caught up in some evening traffic, the sun and the rain played that magical trick of offering up a rainbow to the ones in that right position to see it.

There was the actual end of a rainbow for us to see and it triggered two thoughts – the mythical pot of gold if you actually get at the rainbows end, and then my later thought “innovation is actually like a rainbow in so many ways”

The Rainbow Effect

They tell us you can never reach the end of the rainbow because the rainbow is a little like an optical illusion. The rainbow is formed because the actual raindrops act like thousands of little prisms that refract and reflect the sunlight towards you. So when the sun combines and those millions of raindrops have this light hitting them and split the colours for your eyes to see the effect.

Even when you change your position, the angles change and you see the rainbow at new angles of these little prisms. The ability to see the rainbow is that you have to be always be that certain distance away, even as you try to move towards the rainbow, it stays that distance away from you, so you can never get to the end of that rainbow.

I just think for many of us, that innovation is often just like that! So it got me thinking. Continue reading “Innovation is like a Rainbow”

The forming of new structures- the business innovation ecosystem

At present we are seemingly in a state of flux, we are learning to move from linear innovation models into more dynamic ones that are increasingly forming around innovation ecosystems to provide for new collaborative structures.

Our whole understanding of innovation is changing; we are evaluating and changing our existing focus from closed (internal orientation) into open (external orientation) thinking for accelerating and improving our innovation performances.

Regretfully we are not yet fully equipped to manage within these new innovation ecosystems. We need to give the factors an increasing focus and lead into a better emerging theory of leading or good practice.

Measuring innovation in different ways is becoming important Continue reading “The forming of new structures- the business innovation ecosystem”

Category: Innovation Ecosystems