I guess everyone knows the tragic story of the EastmanKodak Company: founded in the 19th century, dominating the photographic film market during most of the 20th century and finally collapsing into bankruptcy in the early 21st century, shaken by a new technology they had once decisively initiated.
Surveys show that the large majority of senior executives see innovation as critical for their businesses but what if you want to make your organization more agile and innovative where should you start? You could launch a big initiative with grand statements, training classes and an ideas scheme but you tried all those last year and they fizzled out. It is better to begin with a brutally honest assessment of what is preventing innovation from happening today.
Globalization is great for business: it opens up new markets and allows businesses to bring in revenue and talent from all over the world. However, the first steps into international expansion can be fraught with growing pains, forcing companies to waste time and money on efforts that don’t gain any traction in foreign markets. To avoid this, company leaders have to get ready to embrace change and innovation outside their normal comfort zone. Here’s why it’s important to get comfortable with discomfort when you’re considering international expansion.
An in-house innovation program is becoming a common fixture in the most competitive organizations. However, in a recessed economy, these research & development programs can sometimes get eliminated, because they struggle to prove or articulate value.
Embracing an intrapreneurial mindset, which intentionally disrupts things from the inside out and often from the bottom up, is a radical concept for companies that thrive on stability and predictability. However, if an enterprise is committed to developing its innovation capability through intrapreneurship, three groups of people must be mobilized to make it happen: leadership, stakeholders, and innovation support.
Exploring the Power of Pause with Leadership Thought-Leader & Korn Ferry Senior Partner Kevin Cashman
In today’s episode of the Innovation Ecosystem podcast, Kevin Cashman discusses with Mark the rationale and research behind "The Pause Principle," which aligns strongly with the notion of “creating space” explored by previous guests like David Allen, Lisa Bodell and Heiko Fischer, among others; about Kevin’s new interest in the concept of “story mastery”; and finally some fresh insights into the qualities of a great versus a good leader.
One of the greatest challenges facing innovation professionals is to find the right approach to a given innovation problem. Whether that’s instilling the innovation mojo in a large corporation or simply helping teams become more innovative, the ways to do this seem to be more of an art than a science. However, during the last ten years there has been a strong push to turn this art form into more of a science.
Currently leading Human Performance for Red Bull, Andy works with hundreds of international athletes and business leaders to develop and implement elite performance models. In today’s podcast, Andy and Mark sit down to discuss the intricacies of human potential and how certain qualities of elite performers resonate across sectors, industries and arenas; how companies can evolve to enable more talented employees to excel and his project Human 2.0 which looks at how new technologies especially in the arena of Artificial Intelligence encourage us to explore our own potential at a much higher level.
Innovation tends to thrive in an environment where there are less bureaucratic restraints and an appetite for calculated risk. However, without a structured management system in place, experimentation can go awry and great ideas risk falling by the wayside. This is where accountability and autonomy can provide the essential framework to support the innovation process to its full potential.
When it comes to transformation programs, internal alignment forms the foundation for strategic success. Naturally, aligning an organisation to its strategic priorities requires serious upfront investment in terms of time. But without this time, it’s a case of ‘fail to prepare – prepare to fail’.
Michael Gervais is a high-performance psychologist who works in the trenches of high-stakes environments, he is a recognized speaker on optimal human performance, and he is the host of the Finding Mastery podcast. What can Michael teach us about success in the corporate world? Well, just a few of the important topics Mark and Michael discuss on this week’s episode are: Why is an understanding of the space between hesitation and commitment so fundamental to raising performance? What is micro-choking, and how can you dissolve pressure? A definition of failure that challenges us to step up.
The importance of innovation for organizations to remain competitive is widely discussed and well accepted by scholars and practicing managers. However, failures in innovation attempts are quite common and raise many questions. Why do firms with innovative products fail? Does market acceptance of innovations alone guarantee continuous success? Is it innovation strategy that can ensure long-term prosperity? One can argue that it is not only how to innovate that matters, but also where, what and when to innovate that make the difference.
Paul Brody is a Global Innovation Leader in BlockChain Technology and a Solution Leader in the Industrial Internet of Things at EY. Paul has spent more than 15 years in the electronics industry and has done extensive research for his clients on technology strategy. Paul understands that technology is deeply rooted in strategy, but it gets complex as new technologies and disruptions arise in our modern world. For example, the moment self-driving cars are perfected, it will cause a huge disruption in our economy, so how can we navigate through it?
Amantha Imber is the Founder of Inventium, a company that uses science-based innovation to help organizations unlock their growth. Amantha has worked with some of the biggest names in the industry such as Coca-Cola and Disney, and is the author of The Creativity Formula: 50 Scientifically-proven Creativity Boosters for Work and for Life. On this episode, Amantha discusses how to encourage a risk-taking company culture that isn’t afraid to fail in the name of innovation, as well as what she personally looks for in a new hire.
Someone once told me this: “Innovation is like an apparition of the Virgin Mary: one person saw her, but everyone talks about it.” Although funny, the quote aptly captures an attitude towards innovation that exists in many companies today. Innovation – and the skills that enable it – are sometimes considered as mystical gifts, preserved for the chosen few. In other cases, innovation is feared, because it involves unregulated processes, risk taking and investments with unpredictable outcomes. In this blog post, I’d like to make a case against this kind of innovation paralysis. Every company must innovate, and with the right understanding of the word ‘innovation’, every company can.