Success in Innovation: Improving the Odds by Understanding the Factors for Unsuccess

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Clare's Law: want details about partners. I thought, All labour, yet no less Bear up beneath their unsuccess. Infinite movement: Robert Browning and the dramatic travelogue.

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Success in innovation; improving the odds by understanding the factors for unsuccess. His passions and longings are typical of a person who is after something ideal that he craves for but the conscious-self dissuades him from pursuing this course because of the fear of unsuccess. The Strain of Romanticism in the Poetry of T. A second reason for the apparent unsuccess of 33 is the divergence of the summation [summation over n] [u. This is where tools, such as innovation management software, can make a difference.

Without the right communication channels, the right processes for making decisions, and the right infrastructure for implementing ideas, very few of the ideas that people are coming up with will actually see the light of day. Organizational structure is one of the keys here. Teams working on innovation need to be able to move fast and adapt to their environment, as well as make decisions independent of the traditional ways of doing things in the organization.

One of the more popular approaches for starting to create a more innovative organization is to work towards building a so-called ambidextrous organization. This simply means that the organization is structured in a way that allows new businesses to be independent from the pre-existing ones.

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Structures can also be used to reinforce or if done poorly, erode the culture of the organization, which brings us to our next aspect. If structures allow the effective use of capabilities, culture is what enables the organization to acquire the capabilities related to people. With the right kind of pro-innovation culture , the organization is much more likely to be able to recruit and keep the right people in the organization. An appropriate pro-innovation culture encourages the right kind of behavior and discourages the wrong kind.

Success in Innovation : Improving the Odds by Understanding the Factors for Unsuccess

As the effects quickly cumulate, culture can make a tremendous difference for the innovativeness of an organization. Here are some of the more commonly accepted traits for an innovative culture:. Last but not least, is strategy. Strategy is, simply put, the plan the organization has for achieving long-term success. The link between innovation and strategy is quite an extensive topic, but in essence, innovation is simply one of the means to achieving your strategic goals. There are of course cases where "accidental" innovation can reveal unrivalled opportunities that might be large enough to justify changing your strategy entirely, but these are quite rare and virtually impossible to prepare for.

Thus, the key is for your innovation activities to be aligned with your strategy, which however, is often easier said than done. In practice, you need to provide the organization with enough freedom to actually innovate, but also still need to take into account certain practical constraints, such as your strategic focus, available resources and your own capabilities.

In practice, you need to provide the organization with enough freedom to actually innovate, but take into account practical constraints too. For example, a family business that is focused on catering services, has virtually no cash and only two employees, is quite unlikely to come up new innovations related to rocket technology, whereas SpaceX is much more likely to do so. Having established that innovation management is a complex beast, it helps to understand some of the more widely accepted theories, models and concepts related to innovation management.

While none of them have the ability to capture the essence of innovation by themselves, they each make an excellent point or two about innovation which we can learn from and apply to our thinking. These are all terms people use to classify innovation into different types. There are probably as many different typologies as there are authors on the topic since everyone loves to have their own definitions for these terms.

You can use the innovation matrix to clarify the concepts to yourself, as well as to classify the initiatives in your innovation portfolio. Clayton Christensen introduced this concept in with his book that bears the same name. The core of the dilemma is that in the beginning innovation, and more specifically the disruptive kind, is usually inferior to existing products and services on the market as measured with the same metrics and value drivers. In other words, disruptive innovation initially caters to only a small and not-very-profitable customer base, which is why established companies with rational decision-making processes usually decide not to invest in these disruptive initiatives in the early stages.

Success in Innovation

This makes catching up quite unlikely, even with the additional resources the incumbent has at their disposal. While not perfect, this dilemma is an important concept to understand if you want to make innovation happen in an established organization. The Technology adoption life cycle was first introduced by Geoffrey Moore in his book, Crossing the Chasm. The basic idea is that the entire market can be represented with a bell curve that can be divided into segments based on how eager the customers are to adopt new technology with each segment having their own sets of expectations and desires.

Success in Innovation

Other innovators are usually the first ones to adopt new innovations. They want to be the first ones to try new things and are willing to tinker by themselves to make things work. Innovators and early adopters are continuously looking for ways to do things better and consider technology and innovations as sources of competitive advantage. As a result, they are often willing to pay a premium for new innovations, even though they might be lacking, or even defective, in certain ways.

The majority, however, is much more pragmatic. Even the early majority is much more risk-averse; they are looking for proven solutions at a reasonable price. The chasm, then, is the huge difference between the expectations of the early adopters and the early majority. For companies to be able to cross the chasm, they need to find new ways to make their products more attractive in the eyes of the early majority.

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Developing the product and changing the way you talk about it to suit the majority can often mean making compromises that alienate the innovators and the early adopters that allowed your early success. This can be a very painful process that many companies find difficult, not only psychologically, but also in practice.

However, if you are able to make the leap, you are likely to be able to have a more scalable, and often a more profitable business, as the majority is where the economies of scale start to kick in.

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  • For a disruptive innovation to be successful and find ways to take over the mainstream market from the incumbent, they need to figure out ways to cross the chasm. The basic idea of the model is quite simple: for a company to maximize their growth potential, they need to simultaneously work on projects within all three of the horizons. To maximize growth potential, you need to simultaneously work on projects for all three horizons. If you focus solely on incrementally improving your existing business with horizon 1 initiatives, you might see solid short-term increases in your numbers, but will ultimately sacrifice the long-term growth of the company in doing so.

    The reverse applies if you focus solely on disruptive innovation of horizon 3 and completely neglect your current business. You might have a bright future, but you might be out of business before you ever get there. Here, the core refers to all the activities that make up the majority of existing business of the organization, whereas the adjacent simply means new improvements or business areas that are logical extensions for the current business, such as opening new geographical markets for the existing services or products.

    The transformational , however, is the most difficult one to grasp.

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    That can mean basically anything that is brand new for the organization, such as certain types of innovations. Their research also identified that the long-term returns for each type of investments are actually the inverse of the resources invested. They are, in fact, talking about the exact same thing. Thus, we can combine the two for a more practical look at the issue. Depending on your circumstances and your strategic decisions, a different allocation can definitely prove to be much more suitable for your situation.

    The rule is simply a highly practical and reasonable starting point for most organizations. While diversifying definitely makes sense in many cases, you should look at risk through a broader lens, especially when it comes to innovation. Risk is the potential of something either gaining or losing value , which means that it simply represents the uncertainty related to that something. In essence, your ability to tolerate risk determines both the potential downside and the potential upside of your investment. Companies often refuse to acknowledge a new product or service idea serves no strongly identified customer need, and they try to retrofit their marketing to compensate.

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    Then develop offerings and experiences that deliver it in a peremptory way. Focus on the most critical rule of thumb for growth today—customer acquisition. Get as many quality customers—even light, occasional users—as quickly as possible. More customers mean more sales, share, and with that, conversion to loyal, heavy users. In addition, new customers have a key attribute that every marketer should leverage—word of mouth. Forrester Research concludes the most valuable customer today is the one that may buy little but whose blog postings, online product reviews, and favorable word of mouth gets 10, 50 or 1, others to buy.

    The longer people are with a brand, the less they talk about it, but new customers are more likely to recommend a brand to their family and friends. Face what you must really accomplish through Facebook. Marketers must ask themselves: What—beyond a discount—will both incent new customers to like my brand and habituate their interaction with it? Think faster.