Tackling innovation | Paul4innovating Innovation Views

Benchmarking Innovation Impact, from InnoLead

I have always welcomed the KPMG LLP-sponsored InnoLead benchmarking report; this is for the third year.

I received a note from Scott Kirsner, who leads the team at Innolead, and he offered me a chance to read the report before its official release today at 12 PM ET time and suggested I can post anytime, so here goes. This is longer as a post as this benchmarking report brings out a lot in my view.

This report provides a definitive innovation benchmarking document for leaders in strategy, R&D, design, and other innovation roles inside large organizations. It includes survey data, interviews with senior executives, and perspectives from KPMG leaders.

The report link “Benchmarking innovation impact from InnoLead” by @innolead and @KPMG_US does offer an excellent stimulating overview that still reflects on so much of what still needs to be done in the innovation world.

The report, as suggested in the opening Welcome by Cliff Justice, U.S. Leader, Enterprise Innovation at KPMG, does provide a variety of ideas and considerations for those seeking innovation understanding.

What was collected was 216 qualified survey responses from professionals working predominantly in innovation, research and development, and strategy roles, and conducted eight interviews with senior leaders at companies across a wide range of industries, including Colgate-Palmolive, Mastercard, NASCAR, and Entergy, the New Orleans-based utility operator.

Where will Innovation Management Software go?

This morning I decided to have an exchange on ChatGPT on the future of Innovation Management Software, I asked a number of questions in a short series and can well-relate to the answers provided incredibly quickly.

What do you think?

Do they make sense and are the suggestions a competitive threat or a trend towards a future that needs fully embracing before others do?

chat.openai.com/chat

Helping discover your innovation pathway

*You need to discover your innovation pathway*.

I started posting my thoughts on innovation in August 2010. I have written on this site alone, www.paul4innovating.com, by just coming up to a milestone of 700 posts focusing on innovation thoughts and opinions, so I just wanted to pause and think about all the different places I have tried to get the innovation message(s) out.

I always find the post-New Year to be a reflective part of the year of reviewing, deciding, and then setting new goals. This is a post about the sources of my knowledge that feeds my innovation passion.

Let me start. I often wonder whether the posts and articles I’ve written have been hitting the right buttons, helping solve the needs of those involved in innovation; I hope so. I have pushed out and explored various aspects, learning myself as I go. I have followed a number of great innovation thinkers and read different books on the areas of innovation.

It amazes me. How much is talked about, advice offered and sometimes that deep down nagging feeling, innovation understanding does not really change; it is the people managing it as they often seem to be simply passing through this innovation period onto other things or vanishing in pursuit of different career interests.

The needs of Innovation Coherence

Innovation often fails to align with strategic needs. It is a known, well-discussed fact. This is often not the fault of the innovator but the very people designing but not sharing the strategy or failing to recognize all the implications this might mean in shifting resources, investing money or simply under-appreciating the complexities that often lie with innovation to conceive, validate, contribute and deliver the contributions into that strategy.

Sadly many innovators are simply happily working away with no specific guidelines, apart from the general remit of “we need to be more innovative”, and this lack of coherence merging from the boardroom, failing to cascade down the organisation leaves this strategic part that innovation should plan as far to vague. They are not drawn into the need for change and its implications from an innovative perspective. Alignment should be a rigorous evaluation.

Building our capacity to innovate needs understanding and reflects the organization’s business activities. Innovators need to grasp the value creation aspects that will deliver the necessary capital-efficient and profitable growth and then ‘go in pursuit’ to achieve their contribution to these goals.

Even the basic questions often remain unclear: “How are we looking to grow revenue, save costs, reduce working capital or improve our fixed capital?” What is specifically being deployed or recognized needs to change and to get into the necessary detail becomes essential.

Were we all upside down in 2022?

*Image adapted from Imaginary Forces for this post*

What an utterly strange year, 2022 has been. We have been confronted, reflective and seemingly having to “kick start” our lives again after the challenges of living through the impacts of a global pandemic.

We go into 2023 far more in personal and business conflict. We do need to find a new way of working. It is not throwing away the technology, tools or established processes, it is transforming these in new and different ways. We have not found the “real-time” to stop, explore and approach concepts and innovative ideas in different ways. Our mindset or conditioning was fairly hard-wired from our past ways of working, we felt unable to justify “permission” to change how we undertook work and have found it challenging with the impact of being remote. Many have simply walked away from their past established ways of working. We are confronting unsettling times for many reasons.

In many ways, it felt all we knew or needed was suddenly not good enough. We have lost our understanding of many things we became used to, and suddenly it all seemed challenged in far bigger ways. War, flooding, famine, shortages, and illness challenges began impacting our lives. We were indeed been confronted with a series of crises and the need for a fast, thoughtful set of responses which we were unprepared or incapable to give as each challenge has been highly complex.

We were beginning to be more open to being more reflective but we have been constantly pushed to take us back to “business as usual”. In many ways, we are struggling with a need for a “reset” but it is far more complex than that as we are in the middle of multiple crises.

This return to the old normal is a non-starter for me, we are in a rapidly changing world

We are in need of recognizing and discerning how much our world is upside down, so we can begin to understand how we need to re-equip ourselves to a new way of working, thinking and responding. We need to “righten” what is wrong with this feeling of much of what we are doing being out of balance.

We are all struggling to transform ourselves. Our businesses are grappling with the current economic difficulties we all presently facing including shortages, disruptions, and dealing with inflation and economic downturns and massive climate change challenges. We are not only confronted with the potential of the toughest downturn in modern times but with all the pressures with the speed of decision-making, and technological advances that seem to ‘suck up’ more of our daily lives instead of helping to resolve it. 2022 was unsettling for me.

An innovation framework that offers a formula for sustainable advantage

*A formula to build a framework for sustainable innovation*

Here is my solution that I think is worth working through first to absorb it and its combination. Then apply it to your innovation-building activity as a framework for innovation. Each time you are reviewing innovative activity, run through this formula in your head to see if each of the parts is embedded into the work.

I have worked on the formula SCA = II + OC + EE + MLC + RNE for many years.

In that post, I detail the make-up of the formula, made up of the combination of positive relationships between the following interrelated parts.

We are or need to be, in search of a sustainable future where we can constantly build upon innovation capabilities, capacities and competencies that can be refreshed, strengthened and sometimes reduced to meet the circumstances.

The formula SCA = II + OC + EE + MLC + RNE makes sense to me. How you build out these yourself further adds more uniqueness and source of advantage.

What makes the Innovation Ecosystem different?

In the past few months, I have been writing consistently on the need to change our innovating process, thinking and designs into Innovation Ecosystem ones.

In October, for example, I wrote, “Why do we need to change our thinking about innovation“. I continue here with some more arguments of “why” we need to move towards an innovation ecosystem in design and thinking.

I continue to gather, reflect and construct the “how and what” structure of this redesigned innovation (ecosystem) process/system. This will be my initial view of how this needs to be shaped as the overriding architecture of an Innovation Ecosystem. I’m coming closer to the point of sharing this in the coming weeks.

I am focusing here on arguing for changing our innovation process on the Business-to-Business or Industry-to-industry, not the retail or consumer ecosystems and their designs.

Let us first provide the top view of the difference in need and the offer of new values.

Establishing an innovative business platform adoption approach

The Combination Effect for Adoption in today’s world

The level of interest in business platforms in the B2B space has rapidly grown. Platforms are more viable and relevant today than ever. The platform’s ability to offer multiple values will influence many of the client’s adoption decisions over the choices their business will engage with.

I wrote a recent article on my ecosystem and platform posting site, “Exploring points of value in adopting business platforms.”

I suggested in this post, “Platforms allow you the opportunity to innovate in very different ways. They can add value through collaborations that can add more to the internal efficiency options through learning and sharing. Platforms help manage the difficulties of transitions we are all undergoing and change how we see the world through a broader collaborative set of lenses.”

Recently in Stanford Social Innovation Review, an article on the “Adoption of Innovation” by Benjamin Kumpf & Emma Proud is well worth the read as adopting any innovation process is a tough, slow one.

They take a position on looking at behavioural approaches suggesting when behavioural insights have been adopted, innovation has ceased to be “innovative.” When a method, technology, or approach to a problem has moved from the experimental edges of an organization to the core of its work: no longer a novelty but something normal and institutionalized. My fear here is this becomes “static” and losses its dynamism. Continue reading “Establishing an innovative business platform adoption approach”

New innovation approaches to counter the fear of Business Contagion

Choosing new innovative approaches to counter the fear of Business Contagion

What has been changing in how we approach innovation, and have we taken the opportunity to radically revise the innovation system and process accordingly?

Many of our innovative approaches or systems are based on very often just an internal perspective, restricted in available resources and limited knowledge and insights, often constraining the evolving new solutions and then limiting the impact and outcome.

For many years open innovation has been encouraged to be adopted to break out of this very narrow internal focus. Having a real diversity of opinion with this greater access to different knowledge and experiences does open up our thinking, but it is, on its own, not enough to make a real difference, especially in times of acute change. We need to put to use a different innovation model or approach.

We are at the cusp or already into significant changes to how the world, society and we as individuals will manage or engage going into the future.

This is my second post discussing the belief that we are being to see a real contagion breaking down how we have been operating and living in the world.

We are facing the potential of unprecedented change, and we need to recognize how a different approach to innovation can help offset or mitigate many of the destabilizing aspects and provide a pathway to managing differently in a new environment that will inevitably come from this contagion. Continue reading “New innovation approaches to counter the fear of Business Contagion”

The fear of business contagion requires different innovation response

Business contagion requires different innovative responses.

We are presently facing a profound set of changes in the conditions that businesses operate within the immediate years ahead, that of the fear of business contagion; these will need a different set of innovation shifts and responses to counter this and seize new opportunities.

Over two posts, I want to lay out the underlying concerns (here) and the new dynamics we can deploy by changing how we undertake innovation as my second post.

This first post discusses what is changing, and there is a growing argument in what I am seeing that we are facing one of those contagion periods where one set of conditions is triggering another, followed by another.

Continue reading “The fear of business contagion requires different innovation response”