In or Out Corporate Innovation

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  Corporate Innovation on life-support. What’s an Innovator to do? It’s no secret, that in today’s internet-speed environment, “innovate or be amazon-ed” is the new mantra. But, according to a PwC report, nearly three-quarters of businesses admit that they are not out-innovating their competitors. Much of Internal Corporate Innovation continues to look more like ‘Theatre Innovation’ than the real deal. The flaws: too siloed, too insular, too slow to adapt, too many sign-offs, too many hurdles; the internal constraints go on and on. When Scott Emmons, Neiman Marcus’ head of innovation left the company (in early 2019), he wrote an op-ed on […]

The Innovation Factory

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The Innovation Factory Game Changing Innovation at Scale The Achilles’ heel of Corporate Innovation is the inability to productize enough ideas to create Innovation at Scale. Conventional wisdom says: Innovation is expensive, takes time and cannot be automated. In every aspect, innovation is an art and science that only humans can master. Conventional wisdom is half right. Corporate Innovation is evolving. Take R&D, the traditional base for innovation in existing companies. R&D is under pressure to move from ideas to solutions. A truly magical feat as R&D is populated with people whose job it is to find new ideas, but […]

5 Reasons Why Startups Are Your Most Important Innovation Partner: Open Innovation

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Open innovation is a distributed, more participatory, and decentralized approach to innovation.  The underlying case for open innovation is the fact that no company, no matter how capable or how big, could innovate effectively all on its own.  This is because of the wide distribution of knowledge and research.  Startups can take advantage of this distribution and create an “idea-tester” environment rather quickly.  There aren’t many barriers for entrepreneurs to get a company up and going.  The cycle for building and testing ideas is faster. The cost of this testing activity from startups is rather low.  This is why we […]

5 Things Businesses Can Learn from Entrepreneurs

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Mature businesses generally have an aversion to risk. We get it. They are at the top of their game because they have been excellent at scaling a proven business model, building complex processes and getting teams to ‘line up’. For mature businesses it’s about executing on a well-defined business model. The overwhelming momentum of these organizations pushes hard against risky innovation.This is what entrepreneurs do well. Solve a problem in a new way, take the risk but get all of the benefits of eventually winning. Considering new products or trying to find new markets is disruptive. You aren’t desperate to […]