Tackling innovation | Paul4innovating Innovation Views

Are you engaging with all the different voices around you?

Having different perspectives and voices will enhance your innovation activities, they provide diversity, stimulus and greater options for you to consider the future innovation journey.

How do we set about engaging with all these different voices surrounding innovation?

Have you ever worked with the three horizon framework?
It is really useful for managing your innovation activities, drawing out the often conflicting voices within the organization on how to take innovation forward. The approach can unlock you from just being caught in the present, to one of envisaging a future that then allows you to begin to build different capabilities, competencies and capacities.

Find out more here and here and here on the three horizons or within this blog site put “three horizon approach ” into the search box. You will find I have provided a considerable overview in different posts’ thoughts on the 3H thinking and why I place such value in it for innovation’s evolution.
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Seeking strategic and innovation alignment conversations

Innovation stands in service to the strategic goals of our organization, or it certainly should!

The first thing is you need to have a solid, thoughtful conversation around the type of strategic emphasis you wish to achieve from your innovation activity, and how will it support the organization’s strategic direction.

These can be aligned to general strategic needs such as growing market share, differentiation and disrupting adjacent markets, serving the consistent changing and demanding customer needs, or by honing the delivery process, by spotting those and then exploiting them rapidly and effectively. All these become alignment conversations.

Creating clear goals and linking/aligning innovation to those, gives a more agile top-level strategy dialogue as a vital step before you get into the actual innovation concept – delivery stage. Senior executives must establish the manner in which innovation fits within the strategic context established by goals, vision and strategies.
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The last five yards – the really hard part

It seems so simple doesn’t it – “bringing final ideas to market”. So easy to say, yet it does seem so very hard to achieve.

Everything we should be aiming towards boils down to the judgement of a ‘successful execution’ or not.

It is this last, hard five yards of all the work that went into something, which can make or break so much of the efforts that have gone into this emerging ‘commercial life’ of our new innovation activities.

We should regard the back-end of innovation as the rugged part
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We need the engagement platform for translating big data learning

Big Data is knocking very loudly on our door, how are you going to let it in and manage it?

How can we liberate that creative energy we have within our organizations, how can we achieve higher engagement?

How can we learn, share and transform the knowledge that is all around us, simply flooding in? How can we translate the data flowing in with the knowledge insights and innovation outcomes expected? How are we going to unleash the creativity that goes with new knowledge?

We need to actively encourage connected minds for value-creating opportunities and knowledge sharing for innovation to flow right across the organization. All the raw data needs connected and engaged minds.

“For this, we need to think about installing a modern engagement platform that has the knowledge and learning as its beating heart”

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Is all investment about the future?

I was reading an article by Doug Collins on the “three wishes for the innovation practitioner for 2015” where he points out “2014 was the year for share buybacks and dividends“.

An article from Bloomberg reports that companies in the Standard & Poor’s 500 Index are “poised to spend $914 billion on share buybacks and dividends this year, or about 95 percent of earnings.”
95% of earnings – Doug rightly says “wow” and offers a thoughtful set of observations

“Every organization that enjoys free cash flow makes a decision on where to allocate that resource. If the opportunity available to the organization meets or exceeds the hurdle rate—the desired, expected rate of return—then, in theory, they invest in that opportunity. If not, then no: the organization returns the cash to the investors. Of course, earnings come after investments the organization makes in innovation—research & development expenses, for example. Many do invest a lot in R&D”

He then remarks “And yet…..and yet” ….
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Where are the new feeding grounds of innovation?

Credit Wildebeest migration, Kenya, by Bonnie Cheung — Wildebeest migration, Kenya by Bonnie Cheung

I am presently reading an early release draft of a book written by Mike Docherty of Venture2, on innovation, and I would certainly recommend the read when it comes out.

The book Collective Disruption will be available as of February 2015.

The book as Mike wrote to me, is aimed at corporate leaders, both in large and small companies, charged with new sources of transformative growth and makes the case for co-creating new businesses with entrepreneurial partners.

It builds on a foundation of open innovation, but is focused specifically on new business creation (vs core business support).

I know that Mike is passionate about the intersection of corporate innovation and entrepreneurship for co-creating new businesses and business models. As CEO of Venture2, a consulting and new ventures firm, he works with leading brand companies and start-ups to commercialize breakthrough new products and businesses.

Mike has experienced disruption many times.
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My innovation wish for 2015

I would like to see emerge a different ‘sustaining’ capacity built around innovation as the continuous core, constantly evolving, adapting, learning and adjusting, in perpetual innovation motion.

A truly integrated innovation solution that sits in our organization to allow innovation to be fully leveraged and exploited.

We need to recognize innovation has many touchpoints and a myriad of dimensions that need to be aligned and integrated. I genuinely believe we need a solution provider, who takes a more holistic view of innovation management that can make a significant advancement on where we are today, in our processes and systems.

These need a total integrated solution as the approach. this has its complexities in the challenges but we do have the potential through technology deliveries, platform constructs, and using the flexibility and adaptability found in the cloud.

If we combine these technology enablers with our innovation management understanding, then we can begin to construct this systematically and thoughtfully. It is very achievable and necessary for our organization’s abilities to absorb and translate knowledge into innovative growth, something missing for many.
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Dealing with Your Darwin Effect through Innovation

I have been working away, as my labour of love, frustration and sheer determination, on my thinking through the ‘harnessing’ of the dynamics within innovation, to offer organizations their innovation fitness and future landscape design, so as to radically alter their present capabilities and capacity to innovate.

The aim is to relate these to where your organization is in their existing capabilities, where they need to go, in identifying and clarifying the necessary capabilities they need to have, so as to achieve certain strategic goals and then, “we”, together, collectively prioritize the critical ones as ‘must have’ and then set about filling the gaps.

This is the innovative fitness journey needed to be travelled.

The building of those more ‘dynamic’ capabilities and competencies are the ones you need so as to provide for a more dynamic innovation environment and deliver unique capacity for your ongoing strategic goals.
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Tackling the internal Jobs-to-be-done for improving Innovation

We are constantly nudged toward understanding the needs of customers through the jobs to be done approach to shaping our innovative solutions. So why do we still seem to not achieve this ‘higher purpose’ of providing solutions to customers’ needs?

Predictable growth has run its course as we live in unpredictable times; we need a better way to identify ALL those unmet needs that our customers have.

That need comes from knowing the “job which needs to be done”. We need to sharp shoot to hit clear targets, we need to become a lot more explicit in our knowledge of a customer’s unmet needs, and they need to make the connection of that need with our product (or service).

Mapping the hierarchy of customer needs

We need to map the jobs and generate desired outcome statements that are specific and of real interest to the customer, not our list of multiple ideas generated based on where we are or what we think we know. We need to build a hierarchy of customer needs.

By even attempting to follow a ‘needs first’ approach we are often left to figure out the unmet needs. The flaw lies in not having these fully understood. All needs can be captured but this requires combining a more rigorous, controlled approach, coupled with astute observations.

The key still requires us to accurately quantify the degree to which a proposed solution will increase customer satisfaction – and that means knowing the jobs they want to complete.

We need to segment by jobs and to do this we need to capture this in clear, precise job outcome given statements. We need to become clearer on the product, service or business model ‘job’ it is intended to perform, measured by a customer’s desired outcome.

I really believe our internal processes are letting us down.
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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?’
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