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Innovation System The Six Core Elements, their Behavior & Interaction |
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Concept by Christopher Meyer. Executive Summary by Vadim Kotelnikov, Founder, 1000ventures.com
"Innovation systems are only as strong as their weakest links"
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The Six Core Elements of the Innovation System1
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Understanding the Innovation System - Unlocking the Black Box The Innovation System1 model synthesizes and defines the core elements of innovation, their behavior and interaction. The power of this good model makes it easier to understand complex issues and dynamics of innovation, separate its elements and examine them is greater depth. It establishes a framework that helps you to demystify the the innovation process and its driving forces, to reveal the unique innovation practices of market champions and understand what makes them so successful and unique. Managing Innovation versus Managing Operations Managing innovation is quite different from managing operations. Managing uncertainty inherent in innovation requires specific tools and thinking. Innovation is a learning process, the product of which is new applied knowledge. Operations is an established process driven by existing knowledge.1 Operations generate today's value, while innovation creates tomorrow's opportunities. The most important differentiation between operations and innovation is uncertainty... More Innovation-Adept Culture Establishing the culture of innovation requires a broad and sustained effort. Though changing a company's culture is never easy, with the right leadership, cultures can be reshaped and amazing results can accrue. Establishing an attitude of relentless growth is what enables an organization and its people to achieve their goals. The spirit of relentless growth keeps fresh ideas flowing and reinvigorates your company. Thus, "the primary challenge facing market leaders is to institutionalize an environment where every decision and direction can be constantly and safely reassessed"3...More Leadership & Management Knowledge workers thrive on leadership, but they have an increasingly low tolerance for being managed. New managers should balance motivational leadership, coaching, and sound business management to keep all these independent thinkers pointed in the same direction and working towards the same goal...More Strategic Alignment Strategic alignment is the process of linking innovation strategy with corporate vision, goals, objectives, and strategy...More Innovation Process Rapid innovation requires an effective innovation process. "The process of innovation is a rhythm of search and selection, exploration and synthesis, cycles of divergent thinking followed by convergence"1... More Organization & People Establishing an attitude of relentless growth is what enables an organization and its people to achieve their goals. The spirit of relentless growth keeps fresh ideas flowing and reinvigorates your company...More Innovation Metrics Innovation metrics motivates managers and leaders across your organization to embrace innovation broadly and give it ongoing priority. The adage "that which gets measured gets done" is no less true of the innovation process than any other. Once innovation goals are broadly communicated and rewards for achieving milestones are established, the pace of ideas to implementation accelerates. Sustainable growth is the result...More Gain Sharing High-growth companies use equity, phantom stock, and royalties as a way of sharing the wealth generated by new technologies. Instead of actually giving people stock in the company, you give them a promise to pay them a cash bonus at some future point equal to a certain percentage of the company's equity.
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Bibliography:
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"Relentless Growth", Christopher Meyer, 1998
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"Radical Innovation", Harvard Business School, 2000
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"It's Not the Big that Eat the Small... It's the Fast that Eat the Slow", Jason Jennings and Laurence Haughton, 2000
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"Driving Growth Through Innovation", Robert B. Tucker, 2002
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"Winning New Products and Service Practices Survey", a survey of 200 U.S. companies by Kuczmarski & Associates and Northwestern University's Kellogg Graduate School of Management
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"Managing New Products", Thomas D. Kuczmarski, 2002
