McKinsey Innovation Report – what stands out. Recently I have outlined the existing gaps at the leadership level on innovation engagement and that innovations continues to lack being integrated into an organizations strategy.
Time and time again there are new reports, surveys and different comments made on this serious disconnect still going on that needs clear resolution. Yet it still continues, why? It is always pleasing to ‘dovetail’ onto the same track as the Big Consultants. When you are already working on and moving beyond the trends they are spotting and highlighting. Being ahead in offering some clear tangible solutions, to help resolve these issues they talk about. They confirm much that I have seen or gained through my research and point very specifically to the key difficulties organizations are presently having around innovation.
This report feeds directly into the solution work I’m undertaking So what stands out in the McKinsey report? The Seven Essential Domains for Innovation Leadership – the Work Mat Approach. Over the next seven days we will document seven important “domains” that determine innovation success or failure.
Each domain creates innovation potential, but sustained, successful innovation requires a unified “framework” in which all of these domains are appropriately engaged and aligned. The development of this framework, which we call the Executive Innovation Work Mat, is the responsibility of the CEO or senior executive. They can deliver alignment by engaging and providing this leadership required in innovation. Through our innovation work it became evident that some firms enjoyed an unusual innovation advantage. Their innovation initiatives seemed to encounter fewer barriers or obstacles, the teams enjoyed greater clarity and a supportive culture, and the internal rationale and language for innovation is more prevalent and consistent.
Isolated activities or a comprehensive framework? The domains we identified as critical to an innovation framework are as follows: Connect locally, Adapt Globally. “Innovation teams have been reorganized, de-layered, downsized, and (increasingly) dispersed, weakening the underlying structure of many companies ’innovation efforts.”
When you read through a paper on transformation through innovation, by the Corporate Executive Board (CEB) at www.executiveboard.com , and it offers the conclusion quoted above: you do stop and reflect. And you should! Then you read in one of the latest McKinsey Quarterly’s articles about the global company’s challenge suggesting many issues are needed to be faced within large global organizations, you get even more of a confirmation that all is not well for innovation. So what is going wrong within innovation? Innovation’s future seems to need some wholesale changes to take place and many of our innovation leaders are facing multiple dilemmas and hard choices that can’t be ignored for much longer.
The issue is “are the leaders of these organizations up to the challenges?” Image credit: asunews.asu.edu. Janet du Preez Me2 Development Report.pdf (application/pdf Object) Obstacles.png (PNG Image, 527×840 pixels) - Scaled (84. Please, stop talking about innovation … – Skills-Universe. Organisations devote an enormous amount of energy talking about the importance of innovation.
But here’s the truth: most companies can’t innovate because everyone’s job is to maintain the status quo. You and everyone else in your organisation is snowed under making sure you’re doing what your job description says you should be doing. And even if “innovation” is included as a KPI, few companies have an effective innovation process in place.This is because companies are set up to do one thing as proficiently as possible – the business they’re in.
Everyone’s role is defined and structured to create the best environment for doing that one thing as efficiently as possible. Success means doing the same thing you’ve always done, maybe just a little better each time. The ultimate guide for the ambitious Innovation Manager (100+ sources) Running innovation projects is hard.
By definition you’re doing new things so you can’t rely on old habits and routines. If you and your innovation team don’t feel uncomfortable, you’re simply not innovating. That doesn’t mean you’ll need to fly blind. At every moment in your innovation process you can use tools, references, checklists and other innovation methods. We do the same in our innovation projects. I. I.a Subscribe to innovation blogs Everyday you and your innovation team should be fuelled with fresh ideas.
Our favorite websites to steal ideas: Where do you find new business ideas? Startup Stash Non-English innovation & inspiration feeds: I manage and read my +500 feeds via Feedly (also available on iPad/mobile). Many of the above blogs and websites have some awesome daily/weekly newsletters. Newsletters worth signing up to: Pocket is a great tool for keeping a track of what you have already read & plan to read!
I.b Use social media as innovation news filters.