A light-bulb moment in Innovation Learning

Over the past few weeks, or is it months or is it even years, I have been constantly thinking through how we are learning in our innovation understanding. I have been struggling over this for a long time, looking to create a more compelling narrative and have only realized part of my ongoing difficulties was that I was coming at this the wrong way.

Firstly a narrative should be open-ended, there is no finite resolution yet to innovation understanding and secondly, it is for the intended audience to determine and relate, not the person presenting the narrative. For me, one light bulb went on.

The second light bulb moment came earlier this week. I was reading an article by Josh Bersin, called “the disruption of digital learning: ten things we have learned”. Josh is the founder of Bersin by Deloitte and this article was on one of his LinkedIn Pulse views. It actually stopped me in my tracks, it made me really think and recognize some of my recent shifts in my innovation focus was making real sense. The article alarmed me but it also ‘re-armed’ me. Continue reading

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Exploring the Value Of Your Innovation Capital

Innovation Capital

Following on from my last post of “Place your future bets- invest in Innovation Capital” which outlined the significant contribution innovation capital plays in our economic growth, let me offer some further thoughts on its value to really capture and understand, so we can measure it within our organizations.

We have the three components; of physical capital, knowledge capital and human capital that are the innovation-related assets, these make-up Innovation Capital.

I have been arguing that innovation capital draws from the core of intellectual capital and its suggested (and broadly recognized) components of human, structural and relational capitals or social capital. I have previously discussed this converging up, as the ‘nesting effect’

Innovation capital needs assessing and measuring so we can understand the relationship between this innovation capitals (and its present and future potential) and organization performance. We need to know the innovation capital ‘stock’.

Why, well ‘stock’ can be ‘static’ and we need to make this more ‘dynamic’ so innovation can ‘flow’ from this constant renewing of our capitals and be transformed into new value.

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Place Your Future Bets – Invest In Innovation Capital

Value of Innovation CapitalRecognizing the value of our innovation-related assets is where the ‘smart money’ should go. To gain growth and to improve productivity is through innovation. We need to translate knowledge into new values.

When you pause and consider the make-up of Innovation Capital you realize it makes such an economic contribution and  in a report from McKinsey & Co, they have set about identifying this to produce the above summary, covering 16 countries, to understand the real value of this Innovation Capital.

These numbers are big and still don’t fully capture everything associated with innovation as much remains ‘hidden’ or ‘attached’ to other activities as well.

We need to shift our thinking on what makes up Innovation Capital

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Seeking out and combining the higher-value impact points for innovation.

ImpactTwo years can feel like a long time. Exactly two years ago I wrote a post called “Making the appropriate impact” discussing my nine different impact points for innovation.

I wrote at the time we can have surprisingly strong influence on impact, as we are in a highly connected world. It is through our organizing and influencing abilities we can all partly determine our innovation future.

I suggested we have nine impact points to consider:

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Learning favours the brave

Knowledge and learning 4The challenges we are facing today seem to be coming faster at us, more complex to decipher and then re-evaluate how we should respond. To achieve faster response we certainly need to educate the organization more than ever.

We need to absorb more, we need to encourage learning more especially to pursue innovation. We need to actively set up learning ways within our organizations to establish their abilities to recognize the value of new, external information (knowledge), to assimilate it, and apply it to commercial ends.

Innovation within the organization needs not just greater recognition of its vital parts, but also of its status as a value enhancing and organizational life-changing event that we need to move towards increasingly in more organized ways. Innovation needs to be recognized as a clear discipline, a new expertise that is as powerful as Marketing became some decades ago.

Seeking out knowledge that feeds our innovations

Knowledge and learning 3The more we embrace change and recognize innovation demands more of our time, the more we seek out knowledge that ‘feeds’ innovation. And the more we ‘push’ for learning, the greater chance we have of thriving in a challenging world.

The expectation ‘bar’ needs to be raised from those practicing innovation, I feel the constant need is for those working within innovation they have this real need to raise their game significantly. Innovation needs organizing but it also needs a better understanding of its contributing parts.

Learning and Education should always start at home.

The earlier we learn, have open interactions and form linkages, the more we will be ready to advance innovation into what it must become: a discipline highly valued for what it contributes with in terms of wealth and growth potential.

We need to find the determination to underpin the capacity for innovation, lying within us all, and that comes from knowledge and education through collaborative learning. So what is your capacity for innovation really like within your organization? Is the learning required for innovation set up in structured ways or left to individual learning and experimentation?

Do either structured or informal ways feed back into the organizational learning system to benefit others? Or is the knowledge gained just left ‘resident’ in the person, not being put to that greater use?

Knowledge exchange is the way forward but we need to avoid the easy paths.

Knowledge and learning 2Organizations need to move well beyond their lazy reliance on best practice comparison and they need to find better ways to explore emerging practices. But that takes many into the realm of increasing uncertainties, and most people and organizations are not trained for this exploration and experimentation.

It is easy to copy but we often fail to recognize all the contextual factors that went into making it that one specific organizations good practice, and I guarantee these are not yours!

Best practice has their comparable uses but it is your focusing on the good and emerging practices within your own organization is the area to focus, for learning and wanting to improve into those that make your practices really work. Then applying, experimenting and learning from novel practices that provide growing confidence in creative thinking.

Also give some thought for next practice, those practices that prompt reinvention. They start such totally fresh thinking, they challenge existing paradigms and move you towards considering new business models.

Organizations constantly anticipate risk by reducing all the variables within risk and play safe with just being incremental. Is that wrong? No, as long as we have our reward systems geared to short-term performance, while we measure leadership success the way we presently do, and the shareholder just expects consistent dividends as their part of the equation and is quickly mobilized to force change if it does not meet this immediate aim, we head down the wrong path.

We are not sustaining our organization and we are not advancing ourselves either, we are destroying much in our current approaches. We do need to focus more on the competence-enhancing not competence-destroying aspects.

We need to re-balance the “risk and opportunity” to push our use of new knowledge into fresh innovation that ‘advances’ on the existing. To recognize the difference we need to encourage knowledge to be ‘freely’ exchanged, and then provide the environment to encourage a re-educating on ‘seeing and exploring’ new possibilities that allow us to grow.

Shifting the knowledge needle takes real commitment

Knowledge and learning 1Can we recognize that choosing the tougher pathway of building our own distinct capabilities, learning block by learning block, is the right one to follow. This allows us to build capacities that are ours, seeking out the knowledge to build the absorptive capacity that acquire, assimilate, transform and exploit, so as to give us greater chances of finding new innovation that is valued and allows us all to grow and gain from this dedicated learning.

I can’t change our prevailing system but I can point to alternatives and suggest we have other options, ones pursued by the few, which are more visionary and brave and often disrupting the accepted. These are building on novel and unique practices, extracted not from others best practices but from emerging practices learn by deliberate design and our own personal experiences, formed within our organizations unique view of the ‘take of and place in’ the world.

Finding our own way relies mostly on us to find the answers. We grow by seeking out knowledge as it feeds our minds to find our unique ways to contribute and share.

Learning the mantra of innovation context

Innovation Context is KingWe have all got used to the statement it is all about “location, location, location” for real-estate. So what should the mantra be for innovation? I think “context, context and context”. Context is a king.

Innovation happens all around us, same as with our places where we live- it is determined by many factors but given a choice we want to live somewhere nice, safe and hopefully going up in value! The same with innovation we want it to be good, attractive, useful and valued by many, hopefully willing to part with their money because it fulfils their need.

Innovation should always start of by being placed in its appropriate context otherwise it will lose its initial connection, dilute in the eventual value and arrive as less desirable because we somehow and somewhere went off track We lost the context because we never really established the real ‘sense of purpose’ for that specific innovation or given direction to explore.

Why do I believe context is the king when it comes to innovation?

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