Innovation strategy | Paul4innovating Innovation Views

So what is value creation?

https://www.imsmarketing.ie/news/a-value-proposition-statement-is-critical-to-the-success-of-your-business/

Value creation is highly dynamic, it is going on all the time and can increase, decrease or transform, in different ways, when you exploit your different capitals that will be in constant change and adjusting to reflect your organization’s business activities and eventual outputs.

This is when you can begin to see the value created by the use of deploying all the capitals to build new growth and what I call “stock” that along with “flow”.

Robin Sloan does a brilliant job of explaining this. I loved this explanation of the two:

“There are two kinds of quantities in the world. Stock is a static value: money in the bank, or trees in the forest. Flow is a rate of change: fifteen dollars an hour, or three thousand toothpicks a day. Easy – too easy.”

“Flow is ephemeral. Stock sticks around. Stock is capital. Stock is protein. And the real magic trick is to put them both together. To keep the ball bouncing with your flow—to maintain that open channel of communication—while you work on some kick-ass stock in the background. Sacrifice neither. It’s the hybrid strategy.”

Value is not just from within, it is the links our organizations are constantly making with others, in the interactions, relationships and the combining of the activities. The important need is to manage the stocks and flows of the capitals Continue reading “So what is value creation?”

The critical interplay among innovation, business models and change

The critical interplay among innovation, business models and change

Jeffrey Phillips and I have collaborated over a number of years and I have always felt these have been highly productive, original in thinking and truly valuable.

One such collaboration was around the interplay of innovation with business models and change.

I wanted to extract part of this white paper”Critical Interplay Innovation Business Models Change 6-2“(goes to PDF), in this post, as it offers all involved in innovation a structure to break down innovation into its different models of application. It describes some important observations we often forget when innovating.

Confronting Your Darwin Effect through Innovation

Confronting Your Darwin Effect through innovation

It is so hard to let go! It is so often harder to carry on, but determination prevails!

I have been working away, call it my labour of love, with plenty of frustrating moments but have “pushed on” through sheer determination, on my thinking through the ‘harnessing’ of the dynamics within innovation.

The journey has forced me into terrain that presented diverse challenges to achieve fresh insights and traversed many a rugged landscape to get closer to my goal of offering organizations their innovation fitness and future landscape design, one designed to alter their present capabilities and capacity to innovate radically. Continue reading “Confronting Your Darwin Effect through Innovation”

Providing the glue in the common language, communications, and context needed for successful innovation

The Tower Of Babel by Pieter Bruegel the Elder (1563)

Central to any organizational innovation building, the enormous value of having a consistent common language is paramount; it is essential to gain identification and understanding that all can relate to; it provides the backbone to a clear, united “sense of purpose”.

Building upon this common language gives a greater chance of effective communication to place the innovation activities into their appropriate context.

In the fifth of a series, I am working with Jeffrey Phillips, a long-term collaborator on “all things concerning innovation” we have been discussing the different domains of the Executive Innovation Work Mat we propose as a framework to provide a great chance to bring all the various aspects of innovation together.

We explore why each factor is essential to innovation in the videos we’ve created. These have covered

Continue reading “Providing the glue in the common language, communications, and context needed for successful innovation”

Innovations linkages to Strategy is vitally important

I have just finished the second of a planned series with one of my favourite long-term collaborators Jeffrey Phillips.

The link to this conversation is here, it is just over 15 minutes long. as a conversation between us, where we emphasise the important linkage between innovation and strategy. You might believe this is a no-brainer but you would be really surprised that this ‘tight’ linkage is often lacking.

Our first conversation called the Fundamental building blocks for innovation success (13 minutes), links here, introduces the series and the areas of our focus. I wrote a post supporting this “Getting back to the future about innovation”

All of these short conversations are drawing out the value of having an integrated approach through the Executive Innovation Work Mat, our central theme of the series and solution to integrating innovation.

In this latest conversation, Jeffrey and I argue most problems or disappointment with many innovation efforts within a business can be attributed to a lack of alignment to the organization’s strategy, resulting in poor growth and impact from innovations contribution.

We need to resolve that issue within any innovation activity, it needs a “tight” linkage to strategy. Continue reading “Innovations linkages to Strategy is vitally important”

Getting back to the Future about Innovation

Paul Hobcraft and Jeffrey Phillips in conversations around innovation

I have just finished the first of a planned series with one of my favourite long-term collaborators Jeffrey Phillips.

Here is the link to the recording. In this series, planned to be only of 10 to 15-minute conversations, we are picking up on many of the fundamental building blocks of innovation.

Jeffery and I go back within the innovation space a long way. We have actively collaborated and designed tools and frameworks over the years that we believe had some of our insights “baked” into them to offer valuable reference points to help us all work through connecting innovation in hopefully better ways.

We have often got into frequent discussions between us on the basics for innovation, those that we deem as central or the core. We will attempt to focus on one of these in each short video produced.

We started with Divergence and Convergence as our framing part Continue reading “Getting back to the Future about Innovation”

Our innovation era: creative destruction or destructive creation- which?

I keep coming back to the dilemma often faced in innovation- do we practice “creative destruction” or “destructive creation?

We are entering some perilous times in climate change and what this will mean in destruction in what we know, what we value and what we are used to.

I can’t imagine when Joseph Schumpeter outlined his groundbreaking efforts for explaining “creative destruction” he or anyone else could imagine this being flipped around to what we are facing more of today, that of “destructive creation”. We live in a throwaway society, and simply this is not sustainable.

Schumpeter saw “creative destruction” as the renewing, through innovation, society’s dynamics that would lead to higher economic development and welfare levels. At the same time, recognizing that this destroyed a few of the incumbents to benefit many more newcomers and increase value creation for broader society.

Today we are in a destructive creations world. Continue reading “Our innovation era: creative destruction or destructive creation- which?”

One great visual paints a thousand innovating words

One great visual paints a thousand words
This visual I came across some years back, and for me, is outstanding in providing the feedback loops that go into developing the right innovation vision. To get to a definitive endpoint of having an innovation vision, you are faced with some complex challenges. These are well shown here.
Each influences the other and constantly loop back, making an improving vision success hopefully.

The critical feedback needs for constructing an innovation vision

The different challenges seen in this terrific depiction provide the sort of dialogue and efforts that needs to go into ‘crafting’ the innovation vision. It is hard, thoughtful work. Let’s look at each of these a little more.
The Time Challenge
Continue reading “One great visual paints a thousand innovating words”

Five Bold Steps suggested for the American Innovation Agenda

I have been reading a report written by Stephen J Ezell of the Information Technology and Innovation Foundation (ITIF) along with a guru of innovation, John Kao, of ILSi on their concerns that something is amiss with the U.S. innovation system.

The report “Five Bold Steps Towards a Reimagined American Innovation Agenda“, written in February 2021, argues for embracing these five bold steps of story, stewardship, strategy, scaling, and system reimagine innovation for the decade ahead.

In all honesty, it is a little underwhelming, not just the bold but simple five steps but the short document of five pages. It assumes a position, and that is dangerous.

Their argument regarding innovation is that Americans have come to see U.S. leadership as a birthright, as a matter of course. In my view, they lost the leadership mantle for innovation years back. I totally agree it should and needs to come back as a bedrock of future growth, prosperity and dramatically altering today’s landscape. Continue reading “Five Bold Steps suggested for the American Innovation Agenda”

Leadership Alignment Work Mat for making Innovation fully connected.

I believe the value of working the seven domains of this framework, named the Leadership Alignment Workmat has significant value within and across any organization. It brings innovation together, a unifying point for the activity and momentum of innovation to become central to the core of the business in its future investment and value impact.

The Leadership Alignment Workmat provides a unique examination of the executive’s role in innovation; it offers a framework that the organisation’s leadership can adopt to ensure linkages and synergies between strategy and innovation, innovation and capabilities, innovation and culture.

They often lack the communicating medium to help clarify and shape the innovation story to provide the guidance necessary for achieving that essential engagement and encouragement they would like to align organizational efforts required from innovation to the strategies envisioned.

Benefits of applying the Leadership Alignment Work Mat

From an investment in an executive work mat exercise, you receive four significant benefits. Continue reading “Leadership Alignment Work Mat for making Innovation fully connected.”