Why Management Innovation Matters
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5 Ways Leaders Enable Innovation In Their Teams
Showing all editions for 'Meeting the innovation challenge : leadership for transformation and growth'. Year Language English. If, for example, your competitor set is shifting, your established business could become vulnerable to start-ups. To anticipate threats, you must also think more broadly.
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- Meeting the innovation challenge : leadership for transformation and growth!
- The Why, What, and How of Management Innovation.
New developments across a wide spectrum can affect your business over time. They ask the right questions. There are three questions I always ask when meeting with teams:. What surprised you to the upside, and what did you learn that drove the upside versus expectations?
What surprised you to a downside, and what did you learn that caused the downside surprise? The first two have to do with savoring the surprises that can often lead to breakthroughs. The third helps me understand where I can help the team be more successful. It can be hard for established companies to innovate because it is an unnatural process.
To be successful at leading the innovation function within a larger organization, executives need to understand that innovation requires a kind of day-to-day management that is very different from business as usual. So, what do you do instead? A successful innovation process is based on iterative experimentation that—as Brad Smith explains above—is nurtured by an involved executive who asks the right questions.
You pose a hypothesis, test it, evaluate the outcome, and decide what to do next. In addition to providing resources, you must collaborate with the team, help expose the most important learning, and bring your unique knowledge and perspective to the table. Successful executives know how to facilitate that process, how to contribute to it—and when to get out of the way. All successful startup processes should be geared to accelerate that feedback loop.
12222 NATIONAL DEFENSE VIRTUAL INNOVATION CHALLENGE - LOS ANGELES
The most important goal of innovation is to gain competitive advantage by increasing the speed and effectiveness with which your company learns—and acts on that learning. Innovation is about experimentation—failing early and often. That iterative process operates at several different levels. Eric Ries talks specifically about market-based experimentation in his book The Lean Startup.
As Ries acknowledges, failure is a key component of learning. Many small failures can lead to a big success.
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You can transform the lessons above into action. Share them with your team—or your boss—and talk about the important differences between managing traditional operations and leading innovation.
Meeting the Innovation Challenge: Leadership for Transformation and Growth - PDF Free Download
Google Tag Manager. Harvard Division of Continuing Education Harvard. The Innovation Leader as Champion and Advocate. The third responsibility is perpetual: to sense when the circumstances are changing, and to keep teaching others to recognize these signals. Until processes that can competently manage disruptive innovation have coalesced, the personal oversight of a senior executive is one of the most crucial resources that disruptive businesses need to reach success.