Are your innovation strategies stuck in a rut? It's time to shake things up. Rethinking innovation isn't just about new ideas, it's about challenging the status quo, embracing change, and finding fresh perspectives to drive your business forward.
The fallout from the pandemic has created new opportunities that organic growth leaders are best able to capture
By investing more in their pool of innovation talent, giving these people the latitude to seize these opportunities, and encouraging prudent risks, these growth leaders will extend their lead further
- They are extending their lead by maintaining their previous innovation momentum just as their slower growing rivals are forced to retrench
Adobe migrated its image-editing program, PhotoShop, from boxed software to a cloud-based subscription service
They also anticipated that possible rivals in the digital space, including Microsoft and Oracle, might see the same opportunity and wanted to preempt them by getting to the market first
Encouraging Prudent Risk-Taking
Leaders are distinguished by (1) learning from their disappointments, (2) sharing risks with their development partners, and (3) containing and managing these risks with small, staged bets.
- To achieve and sustain pro-innovation answers to these questions will necessitate disciplined attention to organizational design such as those presented in Shea’s Work Systems Model.
