Ooops @Elder, I humbly accept I put my foot in my mouth! I just thought to share on the origin of innovation - new ideas, but alas, I speak to only myself.
Elder wrote:This is too deep. Move it to the Thinkers Room first.
Hope the
Discpline of Innovation was some help to my fellow Wazuans and may one day help someone find a breakthrough idea. To close, I thought to share on the
Classic Innovation Traps by Elizabeth Moss Kanter.
The Idea in BriefMost companies fuel growth by creating new products and services. Yet too many firms repeat the same growth-sapping mistakes in their efforts to innovate.
For example, some companies adopt the wrong strategy: investing only in ideas they think will become blockbusters. Result? Small ideas that could have generated big profits get rejected. For years, Time, Inc. didn't develop new publications: managers wanted any start-up to succeed on the same scale as the enormously popular People magazine. Only after Time decided to gamble on a large number of new publications did revenues rise.
Other companies err on the side of process-strangling innovations by subjecting them to the strict performance criteria their existing businesses must follow. At AlliedSignal, new Internet-based products and services had to satisfy the same financial metrics as established businesses. Budgets contained no funds for investment--so managers working on innovations had to find their own funding. The consequences? Retrofitted versions of old ideas.
To avoid such traps, Kanter advocates applying lessons from past failures to your innovation efforts. For instance, augment potential "big bets" with promising midrange ideas and incremental innovations. And add flexibility to your innovation planning, budgeting, and reviews.
Your reward? Better odds that the new ideas percolating in your company today will score profitable successes in the market tomorrow.
1. Strategy Mistakes• Rejecting opportunities that at first glance appear too small.
• Assuming that only new products count--not new services or improved processes.
• Launching too many minor product extensions that confuse customers and increase internal complexity.
2. Process Mistakes• Strangling innovation with the same tight planning, budgeting, and reviews applied to existing businesses.
• Rewarding managers for doing only what they committed to do--and discouraging them from making changes as circumstances warrant.
3. Structure Mistakes• Isolating fledgling and established enterprises in separate silos.
• Creating two classes of corporate citizens--those who have all the fun (innovators) and those who must make the money (mainstream business managers).
4. Skills Mistakes• Allowing innovators to rotate out of teams so quickly that team chemistry can't gel.
• Assuming that innovation teams should be led by the best technical people.