Because innovation is such a young, emerging profession, some misconceptions persist that, unfortunately, prevent leaders from investing in innovation the right way. Avoid costly mistakes with the Leadership Awareness Program by better understanding innovation.
|Innovation = new technologies and R&D||Technology may or may not play a role in a particular innovation|
|Innovation = find the perfect idea||Good ideas are easy|
|Innovation = build products (and services) customers love||Products, services, and value propositions customers care about are a pillar of innovation, yet insufficient on their own|
|Innovation = creative genius that can’t be learned||Innovation is not black magic that depends on creative genius|
|Innovation = business and strategy as usual||Most organizations have done traditional R&D for decades. Business R&D is needed|
Research shows that while 84% of executives think innovation is key to their growth strategy only 6% of those executives are satisfied with their organisation’s innovation performance. Even great companies struggle to systematically create new growth initiatives. Expand your leadership team’s growth capability by showing leaders how they could strategically guide, diversify, measure, and act upon a portfolio of new business ideas.
Provide strategic portfolio guidance to make clear what type of projects, innovations, improvements, and port- folio actions are in or out.
Create an innovation funnel, spread bets to minimize innovation risk. Let the best projects and teams emerge. Incrementally invest in teams with evidence.
Systematically measure and visualize innovation risk of new business opportunities. Understand how fit your portfolio is for the future.
Use the full range of portfolio actions to optimize your portfolio. Grow businesses in-house, make acquisitions.
Too many companies let culture just happen. With our Leadership Awareness Program leaders will understand what it takes to create a world-class innovation culture. Learn how to design great enablers and eliminate blockers in each one of those three areas:
In half-a-day to a day, the Leadership Awareness Program will expand your leadership team’s growth capability.
Your leaders will understand the requirements for World Class Innovation, including how to: