Recent Posts

Enterprise Innovation

[vc_row][vc_column][vc_column_text] When velocity is constant - acceleration equals zero [/vc_column_text][vc_empty_space height="10"][vc_column_text]Acceleration is one of those terms that is often taken for granted in today’s business environment. As a gentle reminder, the definition of acceleration is a change in velocity over time. A major disconnect in corporate external innovation groups (that is, groups responsible for identifying innovations to solve their unmet needs that lie outside their corporate walls) is that they typically - and mistakenly - expect to accelerate innovation while maintaining constant internal organizational velocity in the form of resources, infrastructure, organizational support, budget, etc. Groups seeking to rapidly change their external innovation velocities can do so through honest self-assessment of their internal capabilities, and subsequent selection of the proper resources, information management tools and collaboration models to build the sustainable external innovation organization that works best for them.[/vc_column_text][vc_empty_space height="30"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] External innovation groups seldom receive adequate internal resourcing to effectively drive enough innovation initiatives...

Read More

[vc_row][vc_column][vc_column_text]The concept of an innovation portfolio is still new to some organizations; however, it's been a topic of conversation among innovation professionals for years.  In 2014 Harvard Business Review (HBR) published the article, Managing Your Innovation Portfolio. They found on average high-performing organizations focus 70% of their innovation resources on core or incremental offerings, 20% on adjacent offerings, and 10% on transformational initiatives.  Even though the average was a 70:20:10 spread, they still reference other successful models depending on your industry and your level of ambition and allocations.  The biggest take-away from the HBR report and subsequent reports is that for an innovation program to be successful, the focus should be a mix of incremental (core), adjacent and transformational initiatives.  This mix will enable a program to deliver results both in the near term and long term.  In addition to finding the right balance, organizations need to have the right resources to deliver. ...

Read More
Benchmarking Innovation Impact 2020

If you are lucky enough to be on an innovation team you understand the need to deliver successful innovative solutions. In this contemporary world assessing your progress and allocating resources is always a priority. Recently, Innovation Leader published the report, Benchmarking Innovation Impact 2020 offering an in-depth look at innovation strategies, investments, and approaches that drive successful innovation. ...

Read More
Innovation Budget Planning Components Top 10

As a follow-up to our recent blog on “What to Include in Your Innovation Budget” we have created an innovation budget planning components list with 10 key items you should include in your innovation budget for the coming year.   As you will notice as you go through the budget checklist, some of the key components include taking advantage of external resources. As Benjamin Franklin said, “time is money,” so keep in mind that innovation planning may go beyond optimizing internal resources and require you to invest in outside resources in order to speed up production time.     With that in mind, here are 10 key components that should be a part of your innovation budget plan:   Innovation Budget Planning Components #1 Outside Consulting Ask yourself: Do we have the skills and resources necessary for our project research and development? Can we bridge the gap with outside consulting resources?   Whether you need help developing innovation and best practices...

Read More