Harvard Business Publishing

Scott:

How does your guidnce change (if at all) if the target audience is an early stage alternative energy startup?

Alex

How about the applicability of innovation models deployed within the federal government? How do you push/foster innovation in the absence of prevailing market forces?

mark

Good one Scott.

Innovation is always about defining and redefining success countinually. Without innovation, business world would redefine the company's path will always be on lost opportunities.

that is good .

If possible please send to me full this document

Best Regards

Innovation comes at a cost and it is imperative to identify the need and expected business outcome prior to investing into it. Many companies tweak or re-engineer/ simplify their current processes to achieve an improved way of doing things or at times there is a discovery on the way.

Innovation comes at a cost and it is imperative to identify the need and expected business outcome prior to investing into it. Many companies tweak or re-engineer/ simplify their current processes to achieve an improved way of doing things or at times there is a discovery on the way.

Innovation endeavor leads to pros and cons in almost established firms. It is regarded a chainsaw to cut the established chain the business prosess and create uncertainty in the future. From my experience 20 year in microbanking in Indonesia- initailly this sector is very innovative which successfully bring million poor people into banking mainstream and lucrative business venture, I found that leadership and visonal leader is the most esential for procative innovation, the least one is threat and competition would forces for a collective innovation effort.

Great article. Scott correctly points out that the word Innovation gets thrown around a lot these days. Business leaders are eager to add 'innovation' to their companies. It is rightly pointed out that defining innovation strategy is not as simple as people might think. It requires careful planning to ensure the new strategy delivers the desired outcomes. It is expected that the new strategy will add value for the process or the business. This value addition might be in the form of cost reduction, process streamlining, growth etc.

However, I believe the harder part comes AFTER the strategy has been identified. Implementing the approach requires a lot more then mere arguments of adding value. It requires change; which people are resistant to. This change might conflict with some stake holder’s interest as well. Unfortunately one implementing the strategy needs to be weary of the bureaucratic sensitivities around the change. All big companies have bureaucracy, some more than the other.

In the end implementing the strategy requires great leadership. One should be able to rally people behind him and get them motivated about the approach, especially the key stake holders. It’s only then that one can deliver the desired outcomes.