*** Innovation Systems Need a Reboot *** Boston Consulting Group (BCG)'s latest report on innovation strategy & delivery report shows some shocking data: A record low of 3% of companies are innovation ready. At the same time a record high of 83% rank innovation as a top #3 priority. That is an insane ambition-capability gap. Accordingly, 70% of companies plan to update their innovation operating model. I'm wondering how Strategyzer can better identify those companies and get in touch with them. I'm convinced we could boost their innovation maturity in a short time with the best practices we've accumulated over two decades of experience. Unfortunately, so far we haven't been particularly good at outbound sales yet (we only just started in January...).
Wonder if a simple lessons learned workshop could help here as well as clarifying definitions (eg. innovation ready) and assumptions around facts & the big picture. Four Common Mistakes Leaders often make when faced by a challenge: - Rushing into execution without understanding what are we tryinv to bring and why - Over-reliance on Technology: Tech can’t replace human intuition. Leaders miss critical nuances - Avoiding Tough Conversations: Consultants can dodge difficult talks (esp. from BCG), leading to lack of ownership - Ignoring Team Potential: Looking outside for solutions misses internal innovative ideas (this one is way too common). What are your thoughts?
Maybe a certified partner model would work
You need a “Teachers Edition” of Testing Business Ideas. It’s a great book but it tells people what to do more than how to do it. Corporate people with little innovation experience need guidance at a very detailed level before they will act differently.
IMO you should start by identifying topics that serve as a proxy for innovation to those companies, and these change YOY obviously. On the BCG survey, I'd wonder how much of the self reflection comes from the companies frustration of getting AI truly working for them and delivering value. For over a year most companies are mainly talking, some dreaming, but very little are able to truly innovate or achieve sth. My hypothesis would be that those challenges correlate and hence, when asked about innovation, companies get reminded of their lack of good AI-adoption and response like this.
In my opinion, there is a real gap when it comes to wanting something. However, if your motivation is merely hype or if innovation is just a market necessity, it's not easy. The word "mature" is perfect in this context because, as a culture, innovation requires a thoughtful process within the company to make a real impact. These are important insights that help us understand that despite improving rankings year by year, we still have a lot of work to do.
Le rapport de BCG met en évidence un écart alarmant entre l'ambition et la capacité d'innovation des entreprises. Il est fascinant de voir que 70% des entreprises prévoient de mettre à jour leur modèle opérationnel d'innovation alors que seulement 3% des entreprises sont réellement prêtes pour l'innovation ???? Dans notre domaine, nous avons observé comment l'IA et l'automatisation peuvent accélérer significativement la maturité de l'innovation en optimisant les processus et en fournissant des analyses avancées ???? Quelles sont les principales outils que recommande Strategyzer pour accélérer la maturité de l'innovation dans les entreprises? ????
It’s fascinating that just as the frameworks, tools, skills,, processes?(e.g., ISO56001, Horizon Model, MIT IPC High Growth Region Model, Kotter’s XLR8 concept, BMC, Design Thinking, PMO/iPMO, Change Management etc etc..)?for innovation are clearer and more widely available, companies/organisations seem less and less capable of innovation. I suspect we, the innovation champions, are like farmers throwing better and better seed on poor, unprepared ground - and major, unaddressed problem areas are people and organisation design, with issues/fixes such as? Poor Recruitment - hire people who are comfortable with change and ambiguity Job Design - build an operations and innovation component into each job HR systems -?Performance systems need to offer staff the chance to engage with a level of change that is appropriate to them Succession Planning - promote people who can cope with operations and change, not just operations? Organisation Design - unit design need to include kpis for both operational and innovation excellence A big issues is Collaboration - staff have to be comfortable collaborating across the org, beyond existing, historic boundaries, still delivering day to day, but also successfully delivering future capabilities.
This has been made so clear in my experience recently. I joined a cohort of innovation groups in my industry recently. Conversation started out with comments about how we are all experiencing budget cuts and redirections from projects to cultural impacts. For my company, we are doing neither. But in our last meeting, there were nearly identical presentations from the largest member and one of the smallest. Both are focusing on crowdsourcing competitions and providing professional developments opportunities for employees. I asked the same question, "What happens to the ideas that win?" Both responded that zero were implemented but they chalked the positive experiences as their wins. That's not the innovation I strive to provide. If this report is any indication, there is a growing opportunity to provide results that systematically change organizations or their business models. Or startups and competitors will do it for them.
Great analysis Alex and great question. I see multiple challenges: 1. Do companies realise/acknowledge that gap? The main challenge in leading change is often the mental availability to take a step back from the wheel and look at the big picture. 2. Does leadership understand what is strategy? How many leaders are familiar with even introductory material like Michael Porter’s “What is Strategy?” or differentiate operational excellence and strategy? 3. How able is the company to listen to views from people “that don’t understand our business”? Consulting firms can certainly do a better job at leaving jargon at the door, but company leadership needs a growth mindset to move on the challenges ahead. Looking forward to hearing your thoughts.
Founder & CEO Strategyzer, Visiting Professor IMD
9 个月Here's the full report: https://www.bcg.com/publications/2024/innovation-systems-need-a-reboot