How do you know if your innovation process is broken?
Great insight from Rita McGrath of Columbia (see 3 minute video at above site)
I (Rita) outline five sure-fire indicators that your hoped-for innovations won’t work.
1. The first is that innovation is on-again, off again. It needs to be systematic, not episodic.
2. The second is when big, existing businesses get to control the resources – remember, just because they are profitable today doesn’t mean they will be tomorrow.
3. A third is when companies try to fit their innovative new ideas into the structure they already have. Instead, you need to create structures that can support the innovative ideas that may not work with the one you inherited.
4. How well are you connected to customer insights
5. Finally, don’t treat assumptions as though they were knowledge – that alone has meant more heartbreak for innovators than any other factor when doing new things.