Short Story: There could be better ways to formalize your organization’s innovation strategy, so ask The Brainzooming Group for ideas (via a FREE conversation) to make sure you consider alternatives!
How do you introduce an innovation strategy for your organization?
Do you start from scratch and unveil innovation as a new initiative with a focused team? Or do you look around the organization to identify where new things are happening, even in informal ways, and roll them into a more overt innovation strategy?
We discussed this question with the head of a business services firm. He wants to focus greater attention on innovation within the organization. His goals are to ensure innovation is a driver in maintaining the firm’s strong growth. He also is looking ahead to potential disruptions in the organization’s industry, trying to position the organization for success.
Take Credit for Everything New within Your Innovation Strategy
In a pre-meeting discussion and during our conversation, several innovations from the past several years emerged. These included new revenue lines and process improvements. They have done some great work. While it may not be completely coordinated or have produced dramatic revenue gains, they have steps in place for management team members to surface ideas, develop business cases, and secure approval to move forward with them.
Despite these apparent innovation strategy successes, he wanted to create an innovation team distinct from what they have previously done. The team’s charge would be to generate more substantial innovative ideas to drive disruption and top-line growth. The innovation team activity would be focused on a day-long event to do its work.
Our counter strategy, based on the organization working from a combination of previous success and future aspiration, is for them to take credit for EVERYTHING that looks like innovation in the past few years. This includes:
- Innovation champions that identified fresh opportunities
- New service lines and revenue streams they introduced
- A rebranding initiative
- Award-winning process improvements
- Anything else that remotely fits an updated, more formal innovation strategy
My other suggestion was to integrate the innovation strategy into the firm’s overall strategy, raising it to the level of a strategic initiative.
What are the advantages of a backward-looking innovation strategy?
It recognizes an innovation strategy as:
- Something familiar with the potential for greater impact
- Part of the fabric of an organization looking for inspiration to innovate more dramatically
- A part of the firm’s culture that has both internal impact and the potential to deliver significant value for clients
It is still early. I’m not sure they will get behind this approach or even work with us if they do adapt it. Either way, though, their smartest move is to forego an innovation day for an innovation strategy.
There Are such Things as Free Ideas!
By the way, the ideas we suggested for them were all part of a FREE initial conversation to understand what they are trying to accomplish. As much as we ask questions, listen, and take notes, we can’t help challenging current thinking and offering ideas right away.
If you’re an executive exploring a fresh look at strategy (whether organizational, branding, innovation, marketing process improvement, or just about any other type of strategy) and would benefit from a thirty-minute FREE conversation to provide you fresh ideas, contact us at The Brainzooming Group, and let’s talk! – Mike Brown
