Archive for the ‘Private Enterprise’ tag
In a recent policy posting I mentioned innovation capacity. From my perspective, it’s about a company’s capability to innovate in a sustainable, repeatable way. The operational model required to innovate is different from the operational model typically in play within a company’s organization structure. Here at Myutiq, we break out innovation capacity into five key functional areas, which we look forward to discussing in upcoming blog posts. For purposes of today, let’s keep it to a simple set of three: (1) how companies generate ideas for new, bold initiatives; (2) how companies manage the risk associated with innovation; and, (3) how companies move through the series of steps to implement new initiatives.
Every company will have its own unique set of challenges in building expertise to smoothly manage all the steps along the innovation capacity spectrum. It’s important to map out a process that will integrate well with the business and industry, and then start working through the process, evaluating what’s working and what’s not, so adjustments can be made. Expertise at managing sustainable innovation is built up over time. Getting great at innovating doesn’t happen overnight. But no matter how good a company is at “building a process”, the other critical ingredient is an innovation culture.
Welcome to Myutiq’s Blog. Spring is here – and it’s time to begin planting new seeds for growth. We at Myutiq are embarking on a journey to explore innovation in new ways. Fresh thinking is a fundamental requirement for innovation to occur. We’ll be sharing resources and insights that we hope will spark big ideas for you and your company. We welcome you to join our journey.
As I think back over our work with clients – and tracking what’s happening with market leaders – its clear to me that its competitive differentiation that can either be the stumbling block to growth or the road to a company’s next big success story. Differentiation – it’s at the heart of why people buy from you and not someone else.