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On innovation as part of your business

From: Business Innovation Fundamentals

Video: On innovation as part of your business

Sometimes I get a reaction from companies that will say to me, "Look, you don't understand. "Given the culture of the company we have "and given the industry we're in, we're not going "to be one of those super creative companies "like you see in Silicon Valley, we're just not that." I think companies in doing that, they're talking themselves out of being more innovative. Look, there's no doubt that companies struggle with innovation, mainly in this context. There is today's business that you've got to deliver results on, right? Companies, especially public companies, are under constant pressure to deliver financial results.

On innovation as part of your business

Sometimes I get a reaction from companies that will say to me, "Look, you don't understand. "Given the culture of the company we have "and given the industry we're in, we're not going "to be one of those super creative companies "like you see in Silicon Valley, we're just not that." I think companies in doing that, they're talking themselves out of being more innovative. Look, there's no doubt that companies struggle with innovation, mainly in this context. There is today's business that you've got to deliver results on, right? Companies, especially public companies, are under constant pressure to deliver financial results.

The managers of companies have to make this balance between investing in the long term versus investing in the short term. That's the ultimate business dilemma, in my view. The innovation spin, so to speak, the investments, are fighting for attention against current day results. A company, if you're going to be more innovative, you've got to spend more time on it, but there are other things that you have to do as well. You have to see innovation as an imperative to the business, like you do things like safety or leadership or business ethics or quality.

See innovation as an imperative, then train to it. You know, teach your people, right? If you want them to be more innovative, give them the skill, it can be learned. Then commit to it, right? You've got to train people, give them some resources and let them go. I don't think it's fair for companies necessarily to benchmark them all the time to Apple and Google and companies that are seen as super creative. That's really not the right question, it's really not the right comparison. It's looking deep into the market that they're in and asking themselves this simple question, "How do we unlock new value for our customers? "How do we organize for that? "How do we resource to it? "Then, how do we get the machine moving?" That's what it takes to get a company more innovative.

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Business Innovation Fundamentals

58 video lessons · 1984 viewers

Drew Boyd
Author

 
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  1. 1m 41s
    1. Welcome
      1m 22s
    2. Using the exercise files
      19s
  2. 21m 37s
    1. What is innovation? Introducing Systematic Inventive Thinking
      3m 21s
    2. The principle of function follows form
      4m 8s
    3. The closed-world principle
      4m 16s
    4. Characteristics of innovative products and services
      3m 51s
    5. Challenging the myth of thinking outside the box
      3m 11s
    6. Challenging the myth of serendipity
      2m 50s
  3. 11m 55s
    1. Functional fixedeness
      2m 26s
    2. The subtraction technique
      2m 59s
    3. Subtraction in action
      4m 8s
    4. Addressing common challenges
      2m 22s
  4. 10m 35s
    1. Structural fixedness
      2m 32s
    2. The division technique
      2m 43s
    3. Division in action
      3m 3s
    4. Addressing common challenges
      2m 17s
  5. 16m 25s
    1. The multiplication technique
      4m 24s
    2. Multiplication in action
      4m 39s
    3. Zooming in and zooming out
      4m 51s
    4. Addressing common challenges
      2m 31s
  6. 15m 45s
    1. The task-unification technique
      4m 19s
    2. Task unification in action
      4m 14s
    3. Using task unification for business issues
      4m 27s
    4. Addressing common challenges
      2m 45s
  7. 17m 49s
    1. The attribute dependency technique
      3m 32s
    2. Creating an attribute dependency matrix
      3m 37s
    3. Types of dependencies
      4m 12s
    4. Attribute dependency in action
      4m 31s
    5. Addressing common challenges
      1m 57s
  8. 27m 7s
    1. Running ideation workshops
      4m 13s
    2. Which technique to use
      3m 26s
    3. Creating new services and processes
      3m 17s
    4. Creating digital innovations
      5m 12s
    5. Involving customers
      5m 49s
    6. Evaluating ideas
      5m 10s
  9. 14m 48s
    1. Mastering innovative thinking
      3m 42s
    2. Building a pilot program
      3m 56s
    3. Addressing organizational challenges with innovation
      4m 3s
    4. Next steps
      3m 7s
  10. 52m 41s
    1. About Drew
      2m 9s
    2. What is innovation?
      51s
    3. What got Drew started in innovation?
      2m 15s
    4. On innovation as a skill
      1m 53s
    5. On innovation as part of your business
      1m 58s
    6. On resistance to innovation
      3m 31s
    7. On innovation's tainted image
      2m 34s
    8. Where do you apply innovation strategies?
      2m 31s
    9. Who should lead an innovation effort?
      3m 6s
    10. On favorite innovation experiences
      3m 51s
    11. On innovation vs. strategy
      3m 36s
    12. On working with innovation consultants
      3m 20s
    13. On trends in innovation
      3m 26s
    14. On innovation as competition
      2m 32s
    15. On innovative companies
      2m 43s
    16. On generating vs. executing ideas
      3m 2s
    17. Can you overdo innovation?
      2m 1s
    18. How do you start innovating?
      3m 44s
    19. On the most innovative products
      3m 38s

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