The other day, one of my colleagues asked me, "What exactly do you mean when you use the word 'innovation?'" Answering the question led to a productive discussion about what really inhibits innovation inside large organizations.
When I use the word innovation, I think of three interlocking components:
- Insight or inspiration suggesting an opportunity to do something different to create value
- An idea or plan to build an offering based on that insight or inspiration
- The translation of that plan into a successful business (in simple terms, commercialization)
Obviously, each of these components carries significant complexity, but more often than not, they cover the basics of innovation.
The senior leaders I talk to believe that the bulk of their innovation challenges lie in the first two components. I suspect this is because the third piece looks like execution, and of course, large organizations know all about execution. And yet, my field experience suggests that it's this third component, not the first two, that actually blocks innovation.
To read the full, original article click on this link: What's Stopping Innovation? - Scott Anthony - Harvard Business Review
Author: Scott
Anthony
