Ring Fencing Constrains Innovation

It is the very act of ‘ring-fencing’ we have constrained innovation. We then can limit risk, as well as we are constantly separating it from the center of the company, even though many of us try to push it back towards the core.

Innovation remains separate for the clear majority of our companies even today as it is full of unknowns and question marks. Top executives just do not like the sound of this, so they seek to ring-fence innovation. One where they want to contain it, to try to tame it, so it can mirror their (mistaken) believe that our world is one of order, control, and stability.

Instead of embracing that the real world is actually an innovating world, full of opportunity, for those prepared to take a greater risk, will have much to gain. Regretfully we still see many companies operating with a 20th-century mindset. Thankfully the pressure upon companies to innovate, to get their growth back, is getting a very tough place to operate in today without tangible demonstration of innovation being realized. There is this need to “embrace” innovation. If not, rapid extinction is occurring for many that choose to ignore the sweeping changes we are witnessing in the business world, where more open and technology-driven innovators are connecting and collaborating. Those companies that only halve-heartedly attempting change are fearful and still want to “box” innovation in. A transformation where innovation and technology go hand-in-hand does have to be utterly full on to succeed! Continue reading

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Applying the Three Horizon Thinking to a Fresh Perspective of Innovation Design

There is huge value in applying the three horizon framework into your thinking. It is as useful a framework that you can get, to help decide where you are heading.

It is not just for innovation application, that can determine innovation activities. It has multiple values in any organization thinking and alignment.

The 3H informs the decisions to be taken, by recognizing their importance to the future and ‘frame’ resource allocation, identify current capability gaps to resolve.

It helps to enable the whole organization to “get onto the same page” and move towards that desired future.

This 3H thinking helps break down complex issues. Thinking in different horizons prompts you to go beyond the usual focus of fixing innovation just in the present it provides the connections of the present with the desired future. The 3H builds portfolio design, outline the steps to resolve in any complex challenge, it ‘informs’ strategy and builds the business case for taking a specific direction to that ‘desired future’.

If you want to read more on the three horizons then take some time out to explore the “insights and thinking” resource page shown under the ‘tabs’ above.

I recently applied the three horizons thinking to ‘frame’ a new innovation design Continue reading

Munich Re offers a real clarity to their innovating future

The most impressive presentation I reviewed in 2017 was the one from Munich Re, held on 21st November 2017 under their investor day link

This, for me, was so well structured and offered such a high level of clarity on the pathway they are pursuing, combining innovation and digital, with the outcomes emerging, of building a new suite of Business Models.

I can only simply touch on it here, I suggest you do your own drawing of conclusions.

The Insurance industry has been struggling to adjust and adapt to the rapid changes occurring yet so many are hanging onto the traditional way of doing things. It is so refreshing to see how Munich Re are venturing out, exploring and exploiting, in multiple ways to learn a new innovation pathway.

I follow the two big Re-Insurers, Swiss Re and Munich Re specifically and the innovative differences are quite significant. Swiss Re seems locked far more into traditions and I am still to be convinced they have yet to embrace innovation, certainly from an external perspective, in the same way as Munich Re is undertaking. I struggle with Swiss Re’s messages on where they are exploring the future of Insurance. The way I view, it seems far more unclear, even random, they seem far more closed down with isolated attempts to explore opportunities.  Whereas Munich Re is constantly opening up to change, exploring and seems far more comprehensive and holistic. It seems one is undertaking “words are simply spoken” the other “actions underscored”. Maybe I am wrong. Continue reading

As we enter 2018 we will need Knowledge Graphs

I received an early New Year present, actually, it came from Siemens. They had invited me to their Siemens Innovation Day in mid-December 2017. I really appreciated it, yet it took me time to absorb all that was provided, over these past two weeks.

My early present, well actually an idea, came the day before the event. I was included in the Industry Analysts visit to the Siemens Technology Center, at Neuperlach in Munich. We were provided a variety of insights in different presentations and demonstrations, of the technology they are working upon but one stood out for me, being introduced to Knowledge Graphs.

This one ‘thing’ really caught my attention. It was showcased in the technology center, briefly, as part of a broader set of presentations. It immediately struck me as having the potential to be very vital for the connected innovation I see, as our future.  These few insights set me off on a new train of thought and I scribbled down some hasty notes while listening to this concept. I then was able to review this a little more after the brief presentation. I then started to research on (Industrial) Knowledge Graphs for the initial depth of understanding I was seeking. Continue reading

We are pushing away from the old innovating core

I continue to investigate and explore as much of the thought leadership on innovation as I can, it continually points to a change in how we approach innovation. Delivering this changing message becomes simply a cause in itself as so many are failing to recognize it as radically different from their past innovation management.

I have written about the new innovation era in 2017 made up of higher levels of needed collaboration, where platforms, ecosystems and customer experience understanding become increasingly central.

I felt I needed to provide a more dedicated perspective on these in a collaboration with my established sparing partner Jeffrey Phillips over at Ovo Innovation in our website of Ecosystems4innovators.

We do stand at the cusp of a new innovation era but where do you stand?

We need to push well beyond our existing core of (existing) innovation understanding, we actually need a new innovation institutional design that recognizes the “core” lies at the edges of discovery. Continue reading