Some real interesting thoughts:
Many companies want to establish a culture of innovation, one that will encourage employees to take risks that lead to breakthrough products. But how exactly to build this type of culture often eludes senior leaders — threatening the success of their innovation initiatives.,,,Culture is the net effect of shared behaviors, and therefore adopting innovative behaviors must come first. You change the culture by becoming more innovative — not the other way around....companies should focus on changing a few critical behaviors — “a small number of important behaviors that would have great impact if put into practice by a significant number of people.” When it comes to innovation, adopting the following five behaviors can help your organization to make the leap.
- Build collaboration across your ecosystem. Innovation is a team sport. It requires excellent collaboration among siloed business and functional units and across geographies, as well as with external partners.
- Measure and motivate your intrapreneurs. Intrapreneurs are the folks in larger organizations who couple an entrepreneurial mind-set with the ability to leverage company assets such as channels, brand, and market savvy.To enable intrapreneurs to succeed, you’ll need to measure and recognize their innovative efforts. Three metrics play special roles.
- Emphasize speed and agility. Innovation happens best when people move quickly. (Innovation and growth is all about momentum)
- Think like a venture capitalist (VC). VCs tend to focus on big ideas that make the risk worth taking. You should do the same. When you hear a new idea, ask if it can make a significant difference.
- Balance operational excellence with innovation. Some experts think big companies can’t prevail in the face of disruptive innovation, even if they excel in operations. The truth is they not only can, but must. The tension that comes from balancing operations with innovation drives true success in today’s world.