Six Levers For Solving The Corporate Innovation Problem – Part 3

Six Levers For Solving The Corporate Innovation Problem – Part 3

The article discusses six levers that can help solve the corporate innovation problem. Companies are investing heavily in the early phase of innovation but are not satisfied with the results they achieve. There are two root causes responsible for the problem: a complexity problem and a system problem. This article focuses on the system problem and presents six levers for improvement - advancement of culture, direct customer contact, modern IT systems, a network of innovation catalysts, innovation skillsets, and mindset base, sustained top management support and aligning the management system behind innovation. It emphasizes that all of these levers need to be pushed collectively as there are interdependencies between the components of the innovation system.

View

More Innovation Resources:

Wondering about getting a job at SpaceX? Elon Musk says innovation is the main criterion

View

The Problem with Corporate Innovation

Many large corporations are struggling to innovate effectively due to their slow response to changes in the market and lack of agility. Executives must decide how to allocate resources to innovation and whether to outsource or build internal capabilities.

View

Can Challenges Be Structured Around Transformation?

Innovation platforms should be designed to channel input from the edge of an organization to create original, competitive knowledge about change. The challenge design must be skilled to be disruption and big transformation-ready.

View