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Innovations Dirty Secrets

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A few myths about Innovation Management are busted. Part of a larger body of work on Innovation Managmeent. See www,sarjay.com for more.

Published in: Business, Technology
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Innovations Dirty Secrets

  1. 1. Conclusions Innovation’s Dirty Secrets Myth Busting John Fitzgerald Kennedy “ The enemy of the truth is very often not the lie - deliberate, contrived, and dishonest - but the myth-persistent, persuasive, and unrealistic.”
  2. 2. Myth: Start with Innovation <ul><li>“ Necessity is the Basis of all Invention”? </li></ul><ul><li>Innovation needs Cash & Attention </li></ul><ul><li>Efficiencies FIRST, then Innovation Competency </li></ul>
  3. 3. Myth: Aim for the Stars <ul><li>Ambitious projects </li></ul><ul><li>Portfolio Planning </li></ul><ul><li>Platform Development </li></ul><ul><li>Drown some Puppies </li></ul>
  4. 4. Myth: It’s all Product <ul><li>Innovation == Product! </li></ul><ul><li>Process Innovation is Crucial </li></ul><ul><li>Capability Innovation is the most profitable </li></ul>
  5. 5. Myth: No Boundaries <ul><li>Innovation is self-evident </li></ul><ul><li>Definitions set unwanted boundaries </li></ul><ul><li>No Direction, No Results </li></ul><ul><li>Clear Definition is crucial </li></ul>
  6. 6. Myth: Technology <ul><li>Is Technology the Core? </li></ul><ul><li>Technology Push Strategy </li></ul><ul><li>How many customers care about technology? </li></ul>
  7. 7. Myth: Throwing Money at It <ul><li>More Budget == More Innovation! </li></ul><ul><li>Waste Not Want Not </li></ul><ul><li>Understanding Drivers of Success </li></ul><ul><li>Budget is an enabler, not root cause </li></ul>
  8. 8. Myth: Risk is Inevitable <ul><li>To Risk is to Win! </li></ul><ul><li>Risk is a part of business, accept it </li></ul><ul><li>Risk Management </li></ul><ul><li>Learnable Risk </li></ul>
  9. 9. Myth: It’s a Muddle <ul><li>Innovation is Team Sport </li></ul><ul><li>Structures Preclude Creativity </li></ul><ul><li>Plant A Flag </li></ul><ul><li>Create Rallying Points like Charters etc. </li></ul>
  10. 10. In Summary <ul><li>Myths: </li></ul><ul><li>Innovation Comes First </li></ul><ul><li>Aim for the Stars </li></ul><ul><li>It’s all Product </li></ul><ul><li>No Boundaries </li></ul><ul><li>All Technology </li></ul><ul><li>Throwing Money at it </li></ul><ul><li>Risk is Inevitable </li></ul><ul><li>It’s a Muddle </li></ul><ul><li>The Reality: </li></ul><ul><li>Clean Shop First </li></ul><ul><li>Careful, Measured Steps </li></ul><ul><li>Process is Profitable </li></ul><ul><li>Focus, Focus, Focus </li></ul><ul><li>What the User Needs </li></ul><ul><li>Invest, don’t Splurge </li></ul><ul><li>Learn at every Step </li></ul><ul><li>Create Strong Rally Points </li></ul>

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