Innovate or Die

Why Corporate Innovation Fails

Vidar Andersen, Founding Principal of +Andersen & Associate, keynote at RTL's Digital Shapers conference, Zagreb November 29th 2018. (View on RTL)

Scroll down for the slides and more information ⇩

Summary

The speed of innovation has changed

In the last decades it has become clear that corporations are facing continuous disruption.

Disruption - addressing a market that previously couldn’t be served or creating simpler, cheaper or more convenient alternatives to existing products - has never been developing faster than today. The competition is no longer peers or near-peers in your industry; Today, small and agile startups out of nowhere are being funded at an unprecedented level to fight the incumbents, the established industry leaders - you.

The current unpresedented speed of deployment of disruptive (Horizon 3) products, strategies, and capabilities is the most devastating upset to the status quo. In the 20th century disruptive (Horizon 3) innovations took years to research, engineer, and deliver. In today’s digital 21st century world this is no longer true - and unfortunaly most managers still haven't gotten the memo. Today, disruptive Horizon 3 innovations can be delivered as fast as for Horizon 1 in the existing product line. Companies that are operating as if it's still the 20th century are going to be in for some very unpleasant surprises.

The tools, processes, methodologies and KPIs that got you here, won't get you there. By applying new ways of managing innovation, applying a more scientific and entrepreneurial approach, today you can get results where data talks and BS walks at a speed of 50 times faster than conventional methods of the past.

Where to start

Discover, Explore, Validate & Exploit

One of the key success factors of large companies - the factor that made them successfully large in the first place - is the ability to predictably execute scalable and repeatable processes. But some companies seem to forget that when it comes to new business model innovation (Horizon 2 & 3). Instead, many still believe that innovation is somehow different. That innovation somehow happens by chaos and random chance. By some sort of magic black box process. But of course, as we know now, successful continuous innovation only happens as a result of a deliberate, disciplined, repeatable process integral to your company.

We now know that Horizon 2 & 3 innovation usually follows a common path from idea to successful commercialisation. This path or lifecycle can be divided into phases. And each phase has its own requirements, risks, success metrics (KPI) and goals. And we now also know that speed is of the essence. Companies mastering innovation provide a set of programs and initiatives for each phase of their innovation ventures, scaling up resource allocation with minimized risk over time, at a pace of 50x the speed of traditional innovation, successfully managing their own internal Innovation Pipeline (see the illustration below for a pipeline example).

Here are some of our most popular starting points to getting serious about innovation at speed:

 

The Lean Startup Changes Everything

Lean Innovation

We recommend starting with the two Harvard Business Review articles that changed everything:

"Why the Lean Startup Changes Everything [for the Enterprise]"

and

"McKinsey’s Three Horizons Model Defined Innovation for Years. Here’s Why It No Longer Applies".

Then download and read our whitepaper "Lean Innovation Management - Making Corporate Innovation Work" to better understand how to actually execute on this new knowledge in your company.

Download PDF

 

The Innovator Masterclass

Innovator Masterclass

To achieve change, you have to start with educating everybody from the management to regular employees. Our popular hands-on Innovator Masterclass program empowers your core asset - your people - with the latest proven innovation methodologies and ensures you establish a common language and understanding around innovation in your company.

Find out more about how the Innovator Masterclass could be an answer to getting serious about innovation today for your organisation too.

Download PDF

 

The Lean Launchpad

The Lean Launchpad

The world´s premier support program for early-stage innovation ventures "Lean Launchpad" is an answer to how to drive new ideas as well as existing innovation teams forward to results that matter - and at up to 50 times the speed of conventional methods.

Developed at Stanford and proven by the National Science Foundation's (NSF) iCORE accelerator program to substantially increase fundability, it's practiced by a vast number and types of organisations; From Stanford, Berkeley, and Harvard, to Barco, Vebego, GM, Catepillar, P&G, Coca Cola, and Wallmart, to the US Department of Defence, US National Institute of Health and the US Department of Energy.

Find out more about how the Lean Launcpad program could work for you too.

Download PDF

 

ABOUT +ANDERSEN

Innovation & Growth Through Science + Entrepreneurship since 2013

We provide actionable answers for medium and large companies and organisations to the questions of how to attract, motivate, support and retain innovative people and how to generate, discover, explore, and exploit innovative ideas for new growth.

And we know innovation in your company will never happen by outside consultants.

It has to come from the people you already have inside, those who really understand your company’s strengths and challenges.

That's why our mission is to empower you to manage and run your own innovation, inside your company, by yourself, using your own people - and at 50 times the speed of traditional innovation programs.

To ensure we can help you achieve that, we only apply experienced entrepreneurs - practitioners who have actually been there and done that - ZERO consultants or academic theorists.

In not so many words; We help companies get ready for tomorrow today - the startup way.

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We work with most industries and verticals worldwide

 

 

You + Andersen

We are looking forward to learn more about your current goals and challenges

 

LET'S TALK:

 

+49 151 40 133 149
you@plusandersen.com