Research

7 Top Findings from the research

1. Strategic alignment is the cornerstone of successful innovation
2. If you want to give autonomy, you need to have strategic alignment first
3. If you get alignment, attitudes and learning orientation in place, systems will follow
4. The right balance disruptive/incremental is key
5. Proactivity is the one thing you need to reward
6. Walk before you run (go step by step!)
7. If you are in a big company or a small company you need to act like you are in a successful start up

Start by thinking small

Many companies fall into the trap of believing big ideas will save the day. In our experience, when companies are focused on big ideas they often over-think, over-invest and over-commit to the wrong ideas. Organizations focused on big ideas often ignore the process needed to build and make these ideas happen. Worse yet, they create systems that block people that want to innovate!

Learning from start-ups

Start-ups are typically 4-5 times more successful with new product introductions than larger companies. Larger companies that are successful almost always think small and build innovations over time. Instead of grand strategies, companies that are innovation leaders, pick a strategic direction, start getting things done and learn along the way. In the start-up world, this way of working has been described as the “lean start-up method”.For start-ups, this process is easier because almost everything they do is focused on learning. For larger companies,this is hard work. It is hard because this “learn as you go process”doesn’t match corporate planning processes, where projects are agreed,and budgets are set to execute and deliver not to learn.

Systems and culture are the solution !

The solution is a bit counter-intuitive. Small companies get by with no systems. Larger companies need to create systems to ensure they can think and act small. The right systems can create a new innovation mindset. The right mindset changes innovation from a destination to a learning process. It moves a company from planning paralysis to an action orientation. The right systems can also help ensure people at all levels in the organization take responsibility for innovation-just like in small companies.