Every CxO has “Innovation” on their minds
Companies are acquiring startups at a rapid
pace to acquire innovations and innovative
Few companies are happy with the level of
innovation in their organization
Innovation is inefficient
Innovation is disruptive
Innovation is distracting
Sometimes they don’t recognize it
when they see it.
Almost by definition, an innovation
starts out rough and then gets
If it doesn’t – you’re spending too
much time working on it
Big surprise – that’s why we say we want it
Unless the disruption is our core business
Unless we’re not set up to take advantage of it
Unless we find that someone else is more agile
Know that it’s disruptive and have a plan for how to handle that.
Integrate Innovations into strategic plans
Be prepared for surprises
If your organization is too large to be agile, allow small groups to act
as scouts and pilots
Who wants to work on the old stuff?
All the smartest people get pulled out of
keeping business operating
Pivots make long range planning distracting
Looking out for others innovating keeps your
eye off your internal ideas
That’s almost never the case
Key people became that way because they bought into the current thinking
Innovation is almost always slower and more costly to begin with
Recognizing new ideas worth investing in is a skill all to itself.
Past performance does not guarantee future results
A lot of innovation is luck
Create cross discipline teams – not just your wunderkinds
Create a budget – and let it run it’s course
Give authority to the teams
Allow great exposure, but avoid micromanagement at all
Set regular delivery milestones, even if they’re just
communication to the rest of the company
We’ll go through a project that started with
automotive window motors and ended with
representing $6.5B of research.
Oct 22nd 6-8pm.
Find out more at http://www.iasaglobal.org/ Austin chapter