Zappos is undertaking a fascinating experiment in change management. It’s important to evaluate this separately from the experiment with the management structure Holacracy that they are trying at the same time.
Innovation requires slack – are you taking enough time to innovate?
The Trap of Authenticity Do organisations need to be authentic? It’s a question that came up as I was talking to a colleague recently. He runs a program for the London Stock Exchange designed to accelerate growth in mid-sized companies so that they will become big enough to list on the LSE faster. One of […]
The watch I inherited from my Grandfather is over 50 years old, but it still works. Are we working on things today that will last 50 years? We should be.
Recently, the Boston Consulting Group (BCG) has published key findings of their latest “Most Innovative Companies 2014” survey. Beside the annual ranking, headed by the top three companies Apple, Google and Samsung, some insightful outcomes with regard to organizational and cultural requirements have striked my eye. According to BCG’s research, successfully innovating companies approach innovation as a system. The system is rooted in experimentation, […]
When we make something new, we often don’t give as much thought to building a business model to go with the great new thing. This is a mistake.
Big new ideas and big target markets are important to innovation. However, if we want to win big, we have to start out incredibly small. New ideas grow by dominating a small niche, and then spiralling out.
Being average isn’t enough – we need to be awesome at something if we want to win.
If we want to change the world, it’s not enough to have great ideas. We also have to have the managerial skills needed to execute our ideas. The baby incubator from Design that Matters is a great case study showing the obstacles we face.
Marshall McLuhan said: “Any innovation threatens the equilibrium of existing organization. In big industry new ideas are invited to rear their heads so that they can be clobbered at once.” How do we get around this problem?
Innovating means that we are seeking out uncertainty. The ideas of scaled investments and affordable losses can help us reduce this uncertainty, and increase our chances of succeeding.
If we try to avoid short-term risk, we actually increase the long-term risk of catastrophic failure for our organisations. If risk-aversion keeps us from innovating, we’re thinking about risk all wrong.