I thought the recent IMEF AMPI Tecnomanagement panel provided some thought provoking discussion regarding Innovation.
Retrospectively, I think a better way to have framed the event would have been: “Corporate vs. Start-up Innovation. It pays to choose your model”.
The new Innovation Director will push ideation workshops to show organization engagement. The template driven “Budget as Usual” from Finance drowns any Experiments or Initiatives that do not create immediate uplift on the Sales Numbers, let alone measurable ROI. And if the CEO was smart enough to allow Agile Teams the time and space to focus on new ideas, those products that do look promising, but are not yet material to the success of the company, start to compete for real Sales and Operations resources with other SBUs. If all else fails, they try buy Innovation via M&A.
What Companies should be doing is focused Innovation to fill out the gaps in their portfolio and defend against disruption. In comparison successful Start-ups pivot until they find a (or any) differentiating Attribute that leads to a scalable model before the cash runs out.
What ties both together models together is a clear focus on the Core Attributes within a Value Proposition. The key here is Velocity! A company needs to create the environment to neutralize as fast the competition innovates and stop customers defecting en masse to the upstart eco-system.
There were some also great anecdotes from Nolan Key Bushel founder of Atari, Inc which I will add in another post.