Leaders of organizations face challenges of ensuring continuous business improvement and, at times, transformation of their business models to achieve breakthrough innovation — to ensure they strategically and sustainably deliver results for their customers into the future.
is the process of ensuring the organization is aligned to a critical few clear objectives and is optimally structured through an effective business innovation and talent management strategy, supported through a disciplined process of change management. Strategic design governs and aligns the next two processes to business outcomes.
follows three phases:
(i) Ideation – where business ideas are discovered and developed.
(ii) Incubation – where ideas are being refined and tested for market readiness; and
(iii) Commercialization – to accelerate, scale & monetize ideas in the market.
Skillful management of innovation requires clear KPIs, optimal organizational structures, and talent development that support these three phases. In larger organizations, both legacy and new business structures will need to be staffed with the right talent to support the innovation process while keeping the lights on. Current organizational strategies and structures are often ill-fitted to bring this process to life. Achieving desired business outcomes requires management of complimentary business models and a capability-match to objectives.
requires the application of effective leadership, productive conflict management for improved collaboration, handling ambiguity in decision-making without losing focus, change management discipline, and sustained individual-to-team accountability. Leaders need to champion cultural norms in these areas (e.g. for dealing with conflict and rewarding accountability) and also sponsor the three phases of innovation. As organizations and their people develop competence and become more self- and socially-aware, creativity is enhanced and productivity and morale will increase.
Every business strives to achieve strategic outcomes and value (both financial and intangible) for their customers in the market they serve
A value chain connects the business through its products/services to the market and its customers
Operational capabilities enhance or limit the execution of the value chain
Capable talent — through effective leadership, people management and development — is often the missing link to achieving excellence in sustainable operations
It is essential to hire, onboard and develop people to build talent capability, engage and motivate them to succeed
We live in a world of knowledge management and we don’t sufficiently understand the characteristics, preferences, and strengths of the people who rely on to innovate.
Individuals are not interchangeable components. They have unique strengths and skills, and we need to place them in the most effective roles for them to succeed individually and as teams.
Everyone can be innovative – but creative solutions to problems and opportunities are best achieved when individuals and teams can apply their ideas to the specific type of solution being sought by their business:
Solutions can be:
The most effective organizations combine complementary capabilities of their people in innovation, problem solving and decision-making along the course of product, service and solution development: From Ideation through to Incubation and Commercialization