The Essential Connection Between Strategy and Innovation

Most organizations are seeking solutions to the necessary connections between Strategy and Innovation. The connection between the two are often broken.

Often it is within the strategies that should be outlined, lies the potential new spaces to play for innovation’s design. Yet how often do we fail to connect the innovation’s we design and execute specifically aligned to the strategic need?

We somehow seem to stay locked in the ‘here and now’ constantly repeating and refining the known and established within our domain of responsibility. Is this because innovation is not at the core of the business as it should be? Often we are inherently resisting to exploring change as it becomes risky and far more demanding. A good strategy, well outlined should encourage innovation and gain engagement but it can equally determine how we break down our imposed boundaries by its strategic intent, to encourage exploring and extending on what we know into the what we need to know. Strategic intent informs innovation.

If you have a clear strategic understanding of the needs of the business you are getting more of the understanding of where-to-play and how-to-win in your innovation activities and market investment. It is making these strategic connections that is giving innovators a better chance to deliver back concepts that offer alignment to this strategic need. Investing in this understanding and alignment should never be understated. The time invested, allows for the innovation investments to do their part in supporting the business and feeding it with the growth options required, or highlighting where the possible gaps might be, for additional investment or M&A activity, to accelerate this and bring-in fresh innovating momentum.

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Setting yourself apart through Innovation

the-path-to-successBreaking News: “Over the past 15 years, a portfolio of stocks based on the Innovation Leaders analysis has repeatedly outperformed all major indexes. Average return has been 14.5% CAGR and in 2016, growth was 18.9% – significantly higher than S&P500, NASDAQ and FTSE 100.

Year after year, this analysis has proven that those firms identified as being the most effective innovators consistently outperform their peers and the market.”

Now is that surprising?

It should not be but sadly for the vast majority of companies that do not treat innovation as seriously as they should, as the growth enabler, it keeps them in a constantly lagging position. It tells a very powerful message, one of investing in innovation seriously and in sustaining levels, you can grow well above others.

Points from this research

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Coaching helps overcome the ten innovation intractables

10 intractable innovation challengesA Question:
If you could ask those that lead innovation, your senior organizational leadership, a series of questions that might help unlock innovation blockages, now would that be valuable?

Getting to a root cause of innovation blockage
So what does block innovation? Arguably there are plenty of things up and down organizations: a lack of resources, an overcrowded portfolio of ideas, a lack of dedicated people, treating innovation as one-off, keeping it isolated and apart from mainstream activities.

The list could go on and on, no question but to seek out a meaningful exchange of minds let me offer these outlined below as ones to tackle. Get a discussion going on all of these needs ‘being selective’, raised at separate times and then integrated into a collective ‘declaration of innovation intent’ going forward.

Let’s take a different perspective.

If you could ask a series of question that might help unlock innovation blockages it would make such a difference to our innovation performance and engagement. I think this might need a good external facilitator as my recommendation, one who has deep innovation knowledge and expertise, able to manage the ‘dynamics’ within the room.

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Moving innovation even more in 2016

Innovating in the year ahead 2016Are we entering 2016 with an innovating mind-set? We need too, so as to seize the growth that is going to be tougher to find.

As we look to enter into 2016 what is top of mind for innovation to take hold and become the real core within our business organizations? Some of my quick thoughts or repeating mantras, no apologies here:

• Innovation is not the preserve of the (selected) few but the domain of the community, it is encouraging our connections to actually connect and exchange mutual value and knowledge.

• Moving innovation from just being symbolic to essential. We must stop dipping our toe in the water, we need to just jump in and get wet. We need to get everyone involved and wanting to contribute engaged and  excited on where innovation can really take us

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Moving innovation into our core – Part three

Not fit for future purposeThis is the third and final part of this series on the rethinking within the management of the innovation system.

Part threeTechnology will drive innovation change.

We are in need of a different sustaining capacity, one build around innovation as its continuous core; constantly evolving, adapting, learning and adjusting, in perpetual motion.

We are heading for transformational change

Digital technology and the cloud are offering us a radically different conduit to achieve a new engagement process within our organizations. Innovation is going to be very much caught up in this transformational change.

Technology and data will be innovation’s catalyst for change.

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Moving Innovation into our Core – Part Two

Papering over the innovation cracksA three-part series on rethinking the management of the innovation system.

Part two, recognizing the broken process we currently have.

The innovation process and the structures build into our organization certainly need to be changed.

I outline here different barriers that require change to bring innovation more into the core of a business.

Today, we are needing to build greater agility and responsiveness into our innovation design to counter for a more rapidly  changing market, sensing changing conditions and to ‘seize’ breaking opportunities. . A new combination of speed, flexibility, networking and focusing on adapting and fusing the skills and capabilities needed, will require changes in our innovation work.

Our current structures and processes for innovation are holding us back and will continue to not deliver the expected results needed today or the future, giving real growth and sustainability. We do need a far more radical approach to a solution for managing innovation inside our organizations.

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Moving innovation into our Core- Part One

Innovation at the CoreInnovation has sat outside the core of organizations central systems for long enough. Arguably this lack of being a core central focus holds the deeper understanding of innovation back.

A core that could offer up the sustaining value and contribution innovation can make, into the growth and future well-being of organizations and having available the level of resources and commitments it needs. Today innovation seems to be falling short in delivering on its promise. Why?

A three part series on rethinking the management of the innovation system.

Part one, building the business case of needed change in how we manage innovation.

Those constant top level concerns need finally addressing

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