Innovation Tug of War

In the hypercompetitive world, organizations need to be strategic about creating a sustainable competitive advantage that becomes their lifetime fountain of creativity. Squeezing out more process efficiency from existing solutions is not enough. The future will be about building innovation ecosystems that consist of employees, customers, partners, academia and governments. These ecosystems require the strategic use of co-innovation networks to better serve customers and stakeholders. To achieve this, it is crucial to get the right people to join in by focusing on outreach campaigns, taking care of the little details and offering recognition and rewards everyone. Organizations also need to think through the process of how to create positive momentum and make sure ideas come to fruition by conducting head-to-head evaluations and creating collaborative business canvases.