Tag Archives: business model

Why do new ideas fail to become innovations?

No adoption = No InnovationInnovation is the future delivered. Now suppose you’ve overcome organizational challenges and developed a culture of innovation, your next challenge is to put that new idea in the market; which has to meet another set of criteria in order to succeed.

Easy, right?

It turns out the path to creating the future, from market knowledge and idea conception to execution, is messy. Considering that most attempts at innovation will fail, either by internal or external reasons, it’s smart to understand why new ideas fail to become innovations and thus be able to do something about it.

There are three major reasons why new ideas fail to become innovations:

Any business that has not yet been totally disrupted by the existence of the internet will be

The internet, arguably the greatest invention of all time, is just starting to shape our world. New ventures are dreamed up every day to take advantage of it’s power, and legacy businesses are being disrupted because of it; the business world has been reshaped and redrawn since the inception of the internet.

What does this disruption look like? Here are a couple of clues…

CEOs don’t really want a new business model

Find the revolution before it finds youThere are various reasons why established businesses fail at innovation, but one stands above all: CEOs don’t really want a new business model.

True innovation, not the incremental type, brings forth new approaches and business models. If you are an upstart, that means you are probably creating a new business model. For an established company, it means coming to grips with the reality that your existing business model is going to become irrelevant; if you don’t act first.

But, no matter how many times we see an established business drop rock bottom because its leaders failed anticipate and change with the times, CEOs of other businesses are content with maintaining the status quo. Seems like learning from others doesn’t fit their mindset.

Innovation must reads of the week: The 6Ps of Radical Innovation for large companies

Innovation must reads of the week: The 6Ps of Radical Innovation for large companies

Storified by Jorge Barba · Sat, Oct 27 2012 21:06:57

“I’ve not been able to find any correlation between well adopted innovation processes and actual #innovation outcomes” http://bit.ly/Uxz89MJames Gardner
The 3 Keys To Designing A Business That Learns http://trib.al/joPQubCo.Design
Business model #innovation requires emergent #strategy and #socbiz structures in place – http://lnkd.in/5tgrki (by @tdebaillon & me)Ralph-Christian Ohr
The new 6Ps of Radical Innovation for large companies http://bit.ly/RVJOtg #innovation #innochat #strategyKevin McFarthing
The Less-Is-Best Approach to Innovation http://s.hbr.org/SnLHzRHarvard Biz Review
Innovation and Organizational Savviness http://bit.ly/QLODo8Drew Boyd

If you like these links, check out all the previous “Innovation Must Reads of the Week“. And don’t forget to

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The Pivot?

It’s funny how we humans assign different names to concepts that have existed for a long time. We coin new terms that embody old concepts. Take the concept of ‘The Pivot‘.

It’s become the new buzzword in Entrepreneurship circles thanks to Eric Ries and his Lean Startup concept:

Lean startup guru Eric Ries recommends that start-ups refine their business models through small tweaks—or pivots.

From periodic innovation to relentless innovation

How can your company become a relentless innovator? How do you sustain innovation over long periods of time like Apple, 3M and Google?

Jeffrey Phillips of Innovation Consultancy OVO, persuasively writes that the way to create a sustainable innovation capability in large organizations is by turning what keeps your wheels running, middle management, into innovation Champions.

Not easy. But that’s the main premise of the book. And it is this reason alone why I think this is a must read book. While there are other authors who have touched on the topic of management as an inhibitor to innovation, Jeffrey really goes a lot deeper.

Other books on innovation either deal with the pretty part of ideation or they’re all over the place. Relentless Innovation is easy to read with many interesting case studies and practical advice. This is a very focused book and addresses the ‘how’ to create culture of innovation within a large and complex organization.

Innovation posts of the week: The Business Models Investors Prefer

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