Exploring and Exploiting for Innovation (Part 1)

Exploring and Exploiting for Innovation (Part 1)

Exploring and exploiting have been the yin and yang of corporate America for centuries. Innovation tools aren't new, but they help us create miraculous new things. Companies need to be good at both exploration and exploitation, but the old models of outsourcing exploration and exploiting discoveries based on low cost, low risk, and minorities should be rethought. Rethinking innovation strategies to align with new competitive realities is important. Companies need to balance their explore/exploit intention and rethink their philosophy.

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More Innovation Resources:

8 Principles of The Innovator’s Solution

The Innovator's Solution by Clayton Christensen offers valuable insight on eight principles for handling disruptive innovation in large organizations. The book highlights the importance of targeting a lower profit margin, focusing on what customers value, being patient for growth, and launching disruptive businesses as a repeatable process.

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Launching Innovations: The Do’s and Don’ts

Launching Innovations: The Do’s and Don’ts

Launching new initiatives is critical for innovation leaders, but it requires effective delegation, visibility, and accountability. Avoid micromanaging, taking credit, and blaming others for failure.

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Protecting Your Creativity in a Culture that Doesn't Value It

Need to cope with a non-creative workspace? Use Plan A: find out what the organization values and introduce creativity. Plan B: find new outlets and start writing your future.

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