The hard reality is that “incrementalism” will no longer grow revenues by coming up with a slightly improved version of the same old thing and then selling it to the same old customers through the same old channels in the same old way.
An issue faced by many companies that were considered stable in the past. In the present context, find themselves stuck with no new ideas or products to grow the business.
Tuesday, October 14, 2008
Thursday, September 18, 2008
What drives innovation anyway ?
Is it passionate individuals or the drive from senior management leading to innovation or corporate strategy or is it the external environment.
In my experience on this subject I have had the privilege of listening and reading materials by innovation experts. There are various views- 1. There needs to be passion in what we do. 2. Need for senior management to drive innovation. 3. Innovation to be part of the corporate strategy. 4. Then there are combinations for E.g- we need passionate individuals and organization support. 5. If an innvation success drives more innovation. 6. Then there are people saying that even the innovators kind of relax if there are no challenges from the external environment. Following this line the same say that when the “survival of the fittest” condition starts to set-in, it becomes inevitable that there is a natural tendency to innovate which further leads to actually doing well to find ways to survive by innovating. However in the end, only the best manage to live through for the next cycle.
In my experience on this subject I have had the privilege of listening and reading materials by innovation experts. There are various views- 1. There needs to be passion in what we do. 2. Need for senior management to drive innovation. 3. Innovation to be part of the corporate strategy. 4. Then there are combinations for E.g- we need passionate individuals and organization support. 5. If an innvation success drives more innovation. 6. Then there are people saying that even the innovators kind of relax if there are no challenges from the external environment. Following this line the same say that when the “survival of the fittest” condition starts to set-in, it becomes inevitable that there is a natural tendency to innovate which further leads to actually doing well to find ways to survive by innovating. However in the end, only the best manage to live through for the next cycle.
Thursday, August 21, 2008
Why Companies struggle to be Innovative ?
Companies in their ambition to become innovative, mimic the approaches taken by the designated innovative companies. In my experience (last 10 years) following this approach to become innovative has seldom worked. Even in cases when the aspiring company wants to become innovative is in the same business as that of the designated innovative company.
We have seen from our studies that the challenges the companies face internally and externally are of varying types and degrees. Then there are specific challenges that need special attention at individual, working group and management levels. At an individual level the way people think are different. This is evident from the process of generation of ideas to prototyping and monetizing. There is definately no one approach, in fact there are not even a few approaches to make companies innovative. My experience and research has shown that there is need for clear understanding of the context to enable innovativeness.
We have seen from our studies that the challenges the companies face internally and externally are of varying types and degrees. Then there are specific challenges that need special attention at individual, working group and management levels. At an individual level the way people think are different. This is evident from the process of generation of ideas to prototyping and monetizing. There is definately no one approach, in fact there are not even a few approaches to make companies innovative. My experience and research has shown that there is need for clear understanding of the context to enable innovativeness.
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