Tuesday, September 29, 2015

Internal Innovation Networks as a Basis for Corporate Intrapreneurship

Intrapreneurship is a relatively new concept developed to help large companies create new businesses, a process often called transformational (or disruptive) innovation. Intrapreneurship aims at instilling the spirit of entrepreneurship--usually associated almost exclusively with startups--in the corporate culture. Being intrapreneur means working for a large company, yet constantly taking risks and experimenting, as small company’s entrepreneurs do. 

Intrapreneurship may take multiple form and follow different models; the upcoming Corporate Intrapreneur Summit (organized by the Institute for International Research and Culturevate), taking place in October 8 in New York City, will showcase practical examples of corporate intrapreneurship from  more than a dozen of leading corporations.

Yet no matter which specific shape corporate intrapreneurship might assume, there is one vitally important question that must be addressed: the relationship of the corporate intrapreneurship unit with the rest of the organization. If the newly-formed intrapreneurship structure is located within an existing business unit, there is a danger that it’ll lose its entrepreneurial edge by falling back to solving short-term problems relevant to the “host” business unit. On the other hand, if this structure is too isolated, both geographically and administratively (“an island and the mainland” model), it runs the risk of becoming irrelevant to the rest of the company.

Many perils of creating a corporate intrapreneurship unit will be significantly alleviated if the maternal company already has a functional Internal Innovation Network (IIN). I already wrote about the crucial role played by IINs in the overall corporate innovation strategy. Here, I’d like to highlight four major reasons why a viable IIN would help support corporate intrapreneurship:

1.      IINs help foster the very culture of collaboration the lack of which makes disruptive innovation in large companies difficult in the first place. Much has been spoken about the “NIH (Not Invented Here) Syndrome”; however, it’s important to realize that the NIH Syndrome applies to intra-company collaboration too as individual units are often reluctant to share with others their findings. By breaking internal silos and promoting intra-company collaboration, IINs prepare the whole organization to accept new ideas regardless of their origin.

2.      Corporate intrapreneurship requires close coordination of multiple functions within an organization, both that are (R&D, Business Development, Marketing) and are not (Finances, Legal, HR) directly involved in the corporate innovation process. However, in the majority of organizations, there is no institutional platform for all these units to collaborate on strategic issues. IINs provide such a platform, increasing the efficiency of decision-making and reducing the need for endless face-to-face meetings.

3.      IINs provide intellectual and operational support for the company’s external innovation programs. First, they help identify problems whose solution would require external sources of knowledge and expertise. Second, they facilitate testing and implementing of incoming external ideas and solutions. In other words, they provide a much needed “bridge” between the corporate intrapreneurship unit (“island”) and the rest of the company (“mainland”).

4.      IINs help identify emerging corporate intrapreneurs who--especially in junior positions and in geographically remote units--often remain unnoticed to the corporate innovation leaders. Because IIN platforms are intrinsically democratic, they provide voice to every employee regardless of their rank and location in the company.

Of course, it’d be an exaggeration to say that by themselves IIN can guarantee the success of a corporate intrapreneurship initiative. Yet it will definitely make chances for such an initiative to succeed much higher.

About the Author: Eugene Ivanov is helping organizations of different sizes design and implement internal and external innovation programs. He’s an expert in selecting and defining R&D problems that can be successfully solved by crowdsourcing. He writes blog Innovation Observer and tweets @eugeneivanov101. 

Image credit: www.wired.com

Friday, September 25, 2015

This Week In Innovation: 9/21/15 - 9/25/15

Imagine you go to work every morning wearing a badge that tracks your every movement conversation and interaction. Sounds like a futuristic scene right? According to an article posted on Fast Company this week, this was a reality for 20 employees at Fast Company for two weeks during April of this year. A new company by the name of Humanyze builds these devices, bearing a similar purpose to that of the Fitbit, and consults for different companies who would like to try the new system out. In April of 2015, Humanyze offering free badges and free analysis, Fast Company decided to try the experiment itself. “Our goal was to discover who actually speaks to whom, and what these patterns suggest about the flow of information, and thus power, through the office. Is the editor in chief really at the center of the magazine’s real-world social network, or was someone else the invisible bridge between its print and online operations?” As the article brings out some of the analysis, the better part of the first two weeks were almost spent in silence because employees felt awkward and uncomfortable having a device that recorded everything they said or did. The article also stated that after receiving analysis from the organization, the information is extremely private and cannot be demanded by the organization of Fast Company. In other words, the employees are not in any way forced to share what the device found with any personnel in the Fast Company business. The full article is quite interesting and definitely reveals how innovation and technology can add to market research whether it be outside of a company, or directly within the walls of an organization.

If you live in a big city, or even if you don’t but you still need a mode of transportation to get around, you’ve probably heard of Uber. It’s the car service app that usually offers lower rates than cabs and offers almost immediate and convenient pick up service. Well, this startup company has just announced that it will be releasing and debuting a new commuter service in china called, UberCOMMUTE. According to an article released on Fast Company this new service will pair two different people who may be going in the same direction in a “carpool-like” design. “The service is targeted at people going to and from work; riders can continue using the existing UberPool option in China, People’s Uber+, to tap into the new service.” Amidst significant pressure from the new Lyft and China company, Didi Kuaidi, deal, Uber has decided to launch this new feature within this particular region to strike the completion head-on. “Lyft's new alliance could hamper the company's progress, since Didi Kuaidi already looms large over Uber in China.” I see this bold new innovative move from the startup as a smart decision considering how huge the Chinese market is for Uber. Read the entire description of this new feature and what it will mean for you at Fast Company.

Usually when you think of new solar-energy houses you envision a house in a rural area with lots of grass and trees. However, according to an article on Fast Company that’s not what these student-engineers had in mind… In an entry to the Department of Energy's Solar Decathlon, students from the New York City College of Technology built their model in an urban setting that’s meant for cols city streets. “Team leader Amanda Waal says NY City Tech wanted its house to reflect the background the students, the college's own location in Brooklyn, and that the majority of people are going to live in cities in the future.” The students, almost all of whom are undergraduates, designed the house they call D.U.R.A (diverse, urban, resilient, and adaptable), which carries a relatively small footprint and is also designed to be stackable. According to the article the team is unsure what will happen with the model after the competition is over, but the New York Fire Department has shown interest so anything is possible!

Nichole Dicharry, is a Digital Marketing Assistant at IIR USA, Marketing and Finance Divisions, who works on various aspects of the industry including social media, marketing analysis and media. She can be reached at Ndicharry@iirusa.com 

Wednesday, September 23, 2015

Why Every Organization Needs Big Bets & Spectacular Failures

It's no coincidence that our most revered business icons are also the boldest risk-takers, such as Richard Branson and Steve Jobs. Yet businesses today are continually playing it safe - focused only on short-term gains, rather than long-term value creation - resulting in a stagnant business culture, generating forgettable results in a world that demands significant solutions.

Ensure TMC is unforgettable at BEI: Back End of Innovation this October.

BEI 2015 will share proven skills, techniques and strategies to help you uncover how you can step into the unknown in spite of uncertainty and ambiguity, and be successful.

BEI: Back End of Innovation 2015
October 21-23, 2015 // San Jose Marriott // San Jose, CA
Download the full program: http://bit.ly/1FfVDc3

·         The Risk Factor: Why Every Organization Needs Big Bets, Bold Characters & the Occasional Spectacular Failure
Deborah Piscione, NYT Best-Selling Author, Secrets of Silicon Valley and The Risk Factor

Exemplifying the heroes of risk, entrepreneurship and venture capitalism - and the role risk-taking and failure tolerance play in their success, Piscione makes the case not only for big, flashy mergers and acquisitions, but also for making anarchic choices in everything from leadership to corporate image and responsibility. Drawing on case studies from start-up business giants like Netflix, to upstart giants in business like Sir Richard Branson, Deborah distills lessons for both new and old entrepreneurs whose practice of risk aversion has cost them more than they will ever know.

·         Risk Taking & Decision Making in Poker, Business & Life
Caspar Berry, Risk Taking & Decision Making Expert, Professional Poker Player

Former professional poker player, Caspar Berry, shares his insights into how uncertainty can be a force for good in our lives. Using the metaphor of poker Caspar demonstrates the chaos created by a deck of cards and how and why we should be taking calculated risks for the good of our businesses. He looks at how we can break through fear of failure in our personal and professional lives. Through a combination of economics and psychology he promises to liberate us from conformity and create the most compelling argument yet for how, when and why to take risk, fail some, but succeed more than ever before.

Unite with some of the best in innovation execution and learn how planned, strategic risk can drive revenue and unlock growth in your organization.

Use code BEI15LI for $100 off the current rate. Register today: http://bit.ly/1FfVDc3

We hope to see you in San Jose this October!

The BEI Team

Monday, September 21, 2015

Meet our BEI Blogger, Michael Graber

The Back End of Innovation Conference features live blogging from innovation thought leaders.

 Meet one of them, Michael Graber, in a podcast interview from The Everyday Innovator.

TEI 038: Product Managers Take Note: Changing a Culture for Innovation – with Poet Michael Graber

Product Manager, Innovator, Poet - Michael GraberI met my guest at Innovation Excellence, the online home of the global innovation community, where we both contribute innovation insights regularly. Truth be told, I was giving in to my vanity and checking out the top-20 posts for the month. My record is three posts in the top-20 in one month. For the month I was checking, Michael Graber’s name took the spotlight, and of course, I immediately thought he would be a great person to interview. When I did, I was not disappointed. Michael has more than twenty years of experience leading marketing and innovation efforts. As an expert in marketing and user interface, he has become an accomplished brand strategist. And, this is what really made me curious to talk with him – he is also a published poet and musician – creative forces that compliment his analytical side. Even when he is talking about innovation and brand strategy, he does so poetically and effectively.

Practices and Ideas for Product Managers, Developers, and Innovators

  • Michael has a firm grasp on the connection between his artistic pursuits and innovation development. Story propels brands and God created the universe for stories. Further, poets are the original systems thinkers. The root of the word “poet” means “to make.”
  • The heart of storytelling is motivation and getting people to think new thoughts – the connection with brand development.
  • Storytelling also requires knowing your audience and speaking in terms that your audience will understand and appreciate. Product managers and brand managers must do the same thing.
  • When preparing a story to tell, creating a persona for the group you’re telling the story to will allow you to make a better connection and make a more persuasive argument.
  • To understand your audience, apply empathy and walk in their shoes.
  • An odd dynamic is taking place among the C-suite of many companies. They are demanding more innovation from the organization without really knowing what that means and the implications it has for the organization. Innovation requires a change in the organization but leaders are too often unwilling to do what is required to make the changes.
  • When the organization needs more innovation, start with innovation exercises, such as meeting with customers, practicing empathy, conducting interviews, etc.
  • The second element is working on the culture. Without working on the organizational culture, a new innovation team can do ideation work with customers and be excited about the new product opportunities, but the existing culture can stifle these efforts. It is like antibodies attacking an unknown element in the organization.
  • To begin considering a change in culture, one activity asks the senior leadership team to examine new models of revenue. This helps to push the team in new directions and can also identify revenue opportunities that are easily attainable.
  • Another cultural change tool is examining existing orthodoxies. Once these are understood, then conduct a mindset change exercise by introducing a completely new direction for the organization. For example, if the company was purchased by a competitor, how would that change orthodoxies?
  • To become more innovative as a company, you first have to decide what you want to become.
  • These cultural change activities help the organization to understand what exists, what can be changed, and what is essential. Organizations frequently find that what they thought was impossible is actually within reach.
  • Organizations seeking to improve their innovation culture need three things:
    1. The full support and backing of the executive team in ways that are visible to the organization.
    2. Building multidisciplinary innovation teams that understand how to lead innovation efforts.
    3. These teams then help others in the organization, being Sherpas to show methods, teach, and walk alongside those learning the new techniques.
  • Michael defines brand in exactly the same way as culture – what we do and what we don’t do. Culture is the actions we take and don’t take and brand expresses what we stand for and what we don’t stand for. Your brand is your culture.

Ambidexterity vs. Ecosystems: In Search for Sustainable Model of Intrapreneurship

Innovation has climbed to the top of the corporate agenda in many large organizations, but its practical impact on the corporate performance has often been disappointing. Some would go as far as to say that the corporate innovation is “broken.”

This is perhaps an exaggeration. Large companies are actually quite good in what is commonly known as incremental innovation, which is a systematic improvement of already existing products or services; they’re also doing a decent job in streamlining operations and cutting costs. However, it’s definitely true that many corporations are much less successful in creating new businesses--no matter how you’d call this type of innovation: breakthrough, radical, transformational or disruptive. 

The reason is simple: a hallmark of any successful modern corporation is a flawless, impeccable execution. However, while perfecting execution and establishing the culture of predictability and control, corporation lose the culture of entrepreneurship, the habit of experimenting and taking risky bets. That’s why transformational innovation, with its high rates of uncertainty and failure, struggles to take root in the corporate soil.

Many experts and innovation practitioners see a solution to this problem in bringing the spirit of entrepreneurship back in the corporate fold; a special term, “intrapreneurship,” coined more than 30 years ago, is now actively used to describe this process. Being intrapreneur means working for a large company, yet behaving as a small company’s entrepreneur, that is, cherishing risk-taking and experimentation. 
On October 8, in New York City, The Corporate Intrapreneur Summit will take place, organized by the Institute for International Research and Culturevate. The Summit will bring together thought leaders in the field and practicing intrapreneurs from more than a dozen of leading corporations. One topic that is likely to come up in the discussions will be what models of intrapreneurship can be used to get real results.

Back in 2004, Charles O’Reilly and Michael Tushman wrote an influential paper for the Harvard Business Review titled “The Ambidextrous Organization.” O’Reilly and Tushman argued that corporations actually don’t have to choose between investing in existing (core) and new businesses; they can do both (be “ambidextrous”) by creating corporate structures supporting both incremental and transformational innovation.

Critics of the ambidextrous organization concept pointed out that the requirements for both types of innovation are so different, even contradictory, that what makes companies great at optimizing the current business makes them terrible at creating new business opportunities. For this reason, ambidextrous organizations can’t be but a rare exception (3M and Google are traditionally mentioned as these rare exceptions).

An alternative to the ambidextrous organization approach has also emerged. In his recent book “Collective Disruption,” Michael Docherty, the CEO of a consulting company Venture2 (and a past successful intrapreneur himself), suggests that corporations should support transformational innovation by creating innovation ecosystems including startups. In this innovation symbiosis of sorts, startups will provide large companies with disruptive ideas along with a playground for testing and early prototyping, whereas large organizations will use their resources to scale up the most viable ideas. 

Many would argue that differences between the two models of intrapreneurship are more semantic than real. Both require more openness to the external sources of innovation; both require more flexibility in relationships with outside partners; yet both require the creation of some corporate structures to facilitate the process. It’s therefore very likely that a new, “hybrid,” model may emerge combining the best features of the two original concepts.

Hopefully, the upcoming Summit in NYC will make a significant contribution to creating of such a viable model of corporate intrapreneurship.

About the Author: Eugene Ivanov is helping organizations of different sizes design and implement internal and external innovation programs. He’s an expert in selecting and defining R&D problems that can be successfully solved by crowdsourcing. He writes blog Innovation Observer and tweets @eugeneivanov101

Friday, September 18, 2015

Naming the Baby: Product Naming 101

If you ask business experts what is the most fundamental ingredient in a successful product launch, you may hear three things: distribution, quality, or pricing. All three are merely givens in this era—mandatory.
But what really makes a difference?

The real competitive advantage for a new product is its name.  Likewise, a bad name can sink a good product like a stone thrown into a lake.

A strong name that conveys the emotional essence of a product’s value can improve sales, create a brand that grows in long-term value, and quickens first-time purchases. A bad name can kill a product during the launch phase. In fact, a good name acts as a calling card in the world, instead of a source of shame, confusion, or indifference.

Yet, product names are sometimes created for wrong reasons or are off target for the intended market.

Let’s examine a loser before we look at a simple framework. Ask Audi about their TT. You could just as likely ask any kindergartener about their TT and get the same response.

What self-respecting man wants to drive a TT?

Absurd! Idioms matter. Be careful for the traps of translation, too.
When Colgate introduced a toothpaste in France called Cue, it may have proven comical with readers of the porn magazine of the same name, but no-one else.

Think of successful naming as including both sound and sense. The sonic values have to work, as does the sense making given the dynamics of culture, nationalities, and the competitive landscape.

There are many factors to consider: positioning, market trends and drivers, translation issues, URL availability, more.

Product naming should be done justice in either a long essay or book on the subject; however, here is a short take.

First off, know your enemy. Look at the competitive landscape and make sure you are not naming a me-too product. Aim to be wholly your own. The key is to be different, unique, and helpful.

Secondly, the best names are literal and poetic at the same time, like Office or Raid. Tapping both the descriptive and figurative sides of the brain with one name makes it resound and resonate with denotative and connotative value.

Third, short is best. TT may be the exception to this rule; it’s bad for other reasons.

Fourth, don't suffer feature mania. A simple, non-technical name that conveys the end promise or benefit is always more effective than a name that describes a feature.

Fifth, use a name that evokes some emotional resonance in the audience and rewards their use of the product.

Mostly, avoid really bad mistakes like Poolife, which reads more like Poo Life than Pool Life. Use good judgment and be smart.

Michael Graber is the managing partner of the Southern Growth Studio, an innovation and strategic growth firm based in Memphis, TN. Visit www.southerngrowthstudio.com to learn more.

This Week In Innovation: 9/14/15 - 9/18/15

We see design everyday of our lives, and some of us even experience design on a regular basis. But what are the best 2015 examples of experience design? Fast Company, this week, wrote a piece that discusses the top design experiences of 2015. The winner, according to this article, is the Cooper Hewitt Smithsonian Museum. “As part of a three-year-long renovation and redesign spearheaded by Local Projects' Jake Barton, the Smithsonian Design Museum took a step into the future with an array of interactive works meant to entertain, but also educate visitors on the history of design.” You can view the full design here. Apart from the winner, one of the finalists included the JetBlue Mint partnership. According to the article, JetBlue and Mint wanted to improve the business class experience while also keeping the prices relatively low. “…once on board, flyers are given free wi-fi, a completely revamped entertainment console, better food options, seats which lie flat, and the option to turn that seat into a private pod.” Interested in the other finalists? Check it out on Fast Company’s site. 

We live in an ever-changing world these days where protest and social conflict are common themes amongst many nations including the U.S. This week, Fast Company released an article that explores 6 different devices that could potentially shape the future for protestors who are looking to outsmart their opposing force, whether it be a government of organization. “Repressive governments learn quickly, using the same technology to spy on activists, subvert their communications, and crack down on gatherings.” Therefore, there is a new project called “Backslash” developed by two designers, Pedro G. C. Oliveira and Xuedi Chen. Amongst the six gadgets that Oliveira and Chen put together is a “smart” bandanna that’s printed with a computer-generated pattern that will convey hidden messages that would pair with an app to decode. On top of this gadget, the designers also came up with a wearble face mask that would work independently from cellphone networks and warn people away from bottleneck situations. Learn more about these new tech gadgets at Fast Company’s website!

If you live in a city, you’re probably used to seeing many high-rise buildings all over the place. What are those buildings typically made out of? Concrete and metal usually. Well welcome to the future folks because according to a Fast Company article this week, we will start seeing some “all-wood” high-rise buildings in New York and Portland. According to the article, a new 10 story building in Manhattan is being planned for the Chelsea neighborhood. “In the interest of creating rural jobs, the Agriculture Department has a stake in promoting wood, as does the lumber industry—which has struggled since the housing crisis. But there can also be major sustainability benefits to wood as a building material.” In using a ton of concrete and steel for these buildings, the carbon footprint increases quite substantially. Much of the wood being used would come from already “downed-trees” and wood that’s already being afflicted by pests and creating a serious fire risk. There are many other benefits to using this method outlined throughout the article. Read for yourselves.

Last week Paper’s iPhone app was finally released and features a similar functionality of its predecessor. The new app combines “…drawing and diagramming tools with photo capture, and then layers on text entry that dares to rethink how people have worked with words on screens for decades.” Upon launching its first iPad app in 2012, the company FiftyThree has continued on to develop a stylus, launch a sketch community, and bridge the gap between analog-digital and Book (a print-on-demand notebook). In a Fast Company article this week, FiftyThree’s journey to the release of this app is detailed as being nothing short of just that; a journey. Certain elements included in their decision process include, rethinking the text, giving multiple tests and prototypes, as well as axing certain features originally put into the design. Learn more about this fun new app at Fast Company.com.

Nichole Dicharry, is a Digital Marketing Assistant at IIR USA, Marketing and Finance Divisions, who works on various aspects of the industry including social media, marketing analysis and media. She can be reached at Ndicharry@iirusa.com 

Wednesday, September 16, 2015

Making Uncertainty and Ambiguity Your Allies for Innovation

These days, companies can’t make it without innovating. Has your company made uncertainty and ambiguity your allies for innovation?

David Matheson, President and CEO of SmartOrg, recently shared some tips for our Execution Excellence video series just this. Here are David’s tips:

·         Focus on learning plans, not execution plans.
·         The key to the learning plan is to focus on proof, which are generally those questions that are outside of your comfort zone. But, if you deliver evidence on them, they will either make it obvious that you need to double down on this project and go. Or, if they don’t’ work out, the idea is likely not going to work.
·         The plan that delivers the proof points is the learning plan, and that is the key to success in innovation.

Watch the full video below: 

David will be speaking at the upcoming Back end of Innovation Conference later this month and will be presenting 2 interactive workshops on “Solving Your Million Dollar Problem.” BEI is taking place October 21-23 in San Jose, CA. Download the brochure for more information: http://bit.ly/1O3hSo5 

As a valued member of our LinkedIn community, use code BEI15BL for $100 off the current rate when you register: http://bit.ly/1O3hSo5

We hope to see you in San Jose!

The BEI Team


Monday, September 14, 2015

Capitalize on Future Trends with Coca-Cola, GM, Yahoo!, Microsoft, Intel, Samsung and More

In just two weeks, Foresight and Trends will connect you with senior level executives and the leading trend strategists of Fortune 500 companies specializing in Foresight, Brand Strategies, Future Planning, Trends, and more. Grasp this unique opportunity and ensure future success at FT '15, September 29 - October 1 in LA.

Download our agenda for full conference details: http://bit.ly/1UR5V3S

Your future business mentors include leaders from:
·         Coca-Cola Co
·         Microsoft
·         General Motors
·         Ernst & Young
·         Walt Disney Studios
·         Toyota
·         Citi Ventures
·         The Hershey Company
·         Intel
·         Samsung
·         Warner Bros.
·         Philips
·         TNS
·         Nestle Purina PetCae
·         Yum! Brands
·         Now Plus One
·         MFOUR Mobile research
·         GFK
·         BitPay
·         Belcorp
·         Invista
·         LG Electronics
·         Assurant
·         Diageo
·         3M Company
·         Brunswick Group
·         Revolt
·         Kedge
·         TechShop
·         Lacuna radar
·         Stylus
·         Coin Center
·         Siemens AG
·         Yahoo!
·         Colgate Palmolive
·         Heineken
·         Lowes Home Improvement
·         General Mills
·         And, many more!

This year Foresight & Trends is the one event to offer concrete solutions for all those who are charged with creating a strategic action plan.  Your chance to network and connect with these unique and highly regarded executives is less than 1 month away! 

Register today to secure your spot in developing the future. As a valued member of our LinkedIn community, you get an exclusive $100 off the current rate when you use code FT15LBL to register: http://bit.ly/1UR5V3S

We hope to see you in LA!

The Foresight & Trends Team

Friday, September 11, 2015

Trend Spotlight: Own Your Audience

Trends are everywhere. They are in the cloths you wear, the car you drive, and your exercise routine. Trends are always evolving and new trends are always manifesting.

We recently sat down with Jaclyn Rosen, Research Analyst at Astronauts Wanted, Sony Music Entertainment, to talk about the most disruptive trends this year. Jaclyn will be speaking at the upcoming Foresight & Trends conference because she is wants to try to see around corners and into the fog of the future.

According to Jaclyn, the trend that will cause the most disruption is the next generation of talent have a direct relationship with their audience…they “own” their audience and this in one fail swoop disintermediates the entire traditional entertainment industry!

Her presentation at FT will be “In the Future, Everyone Will Be World-Famous for 15 Minutes.” Turn on the screens of a Gen Z today and Warhol’s prediction looks remarkably prescient: young self-made social media stars are amassing millions of followers and challenging the foundations of entertainment industry. Tech and social media has democratized the very act of creativity, and engendered a whole new class of creators who are reshaping their own media universe, and ours. Find out how Astronauts Wanted, no experience necessary, celebrate and co-create with this new breed of media star and their massive fandoms. 

Don’t miss Jaclyn’s session about this and more at Foresight & Trends 2015 taking place September 30-October 1st in Los Angeles California. Visit the website to learn more and to register: http://bit.ly/1M1VV5N

Thursday, September 10, 2015

How to Make Room for Innovation in Your Portfolio

These days, companies can’t make it without innovating. Has your company made room for innovation in its portfolio to continue to be successful?

David Matheson, President and CEO of SmartOrg, recently shared some tips for our Execution Excellence video series on how you can make room for innovation in your company’s portfolio.

·         Make sure that your portfolio evaluation system accommodates innovation projects.
·         Put at the center of your innovation process, the uncertainty and the ambiguity that’s in every innovation.
·         Treat that uncertainty and ambiguity in a rigorous way – be able to show the upside and the downside of the innovation
·         Stand up innovation next to those incremental projects in a way that makes dollars and cents and shows why they are actually great investments

Watch the full video below: 

David will be speaking at the upcoming Back end of Innovation Conference later this month and will be presenting 2 interactive workshops on “Solving Your Million Dollar Problem.” BEI is taking place October 21-23 in San Jose, CA. Download the brochure for more information: http://bit.ly/1O3hSo5 

As a valued member of our LinkedIn community, use code BEI15BL for $100 off the current rate when you register: http://bit.ly/1O3hSo5

We hope to see you in San Jose!

The BEI Team

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