Summary
Innovation within established organizations goes very differently than innovation in start-ups. Large organizations must typically deal with more rules, contend with finding new business models while supporting their existing ones, and work with and around entrenched cultures and attitudes. Innovating within an enterprise is not for the faint of heart. To succeed, innovators must deliver innovation that aligns with the company strategy and yields clear benefits. Building a series of small wins can help win over skeptics, and create opportunities to help transform the organization more broadly.
Notes
What innovation is for
- Corporate innovation means discovering sustainable new business models
- ¶ Innovation theater - activities that give the appearance of innovation but that don't deliver the results
Barriers to innovation in the enterprise
- Established organizations tend to optimize for inertia
- Loss aversion creates tension between the need to innovate and the need to protect the status quo in large organizations
- Why enterprises can't innovate like startups
- ¶ Martec's Law - the speedboat and the tanker metaphor is used to describe the gap in velocity between technology, change, and innovation and the speed of the large enterprise
- Common innovation anti-patterns
- Common myths about innovation
Succeeding at Innovation
- Innovation is management as much as it is creativity
- Integrate innovation functions with the broader organization
- Leading innovation requires providing a vision and facilitating its execution
- ¶ Innovation accounting
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