Risk Aversion Makes Us Feel Ordinary

When did we lose the appetite for risk? Innovation is suffering badly from our present risk adverse approach. Risk-taking has become threatening, we are all ‘fixated’ on covering all the downsides of risk, looking more at the possibilities of loss and less so at all the possibilities of success

So, we end up with “mediocre work within a mediocre company” yet it was not previously like that. Risk aversion had become dominating and the organization’s leadership was signaling “they were really more comfortable being ordinary”.

How does that square off with “we want to be highly innovative, it is important to us, our growth and delivering ongoing value to our shareholders and to our customers depends on us being innovative”.

What goes around, comes around, in Innovation

It is funny but that often-used phrase “what goes around, comes around” seems appropriate here.

I was catching up with my often collaborator and sparring partner on “all things innovating” Jeffrey Phillips  recently, and within our conversation, some of our discussions sort of triggered a reflection back to some fundamental work we undertook some years back.

In revisiting it, I felt it does stand the test of time and does seem to make this “come around” seem true. Let me provide a quick introduction along with some brief explanations :

Differentiating Yourself in Innovation Part One

How do we show the real difference that innovation can provide?

I believe we have eight needs to achieve.

Each of us will arrive at our own personal understanding of what this “all means”.

Innovation is about achieving difference so if we all arrived at the same point of understanding then we actually are defeating ourselves from the very beginning

So what are these eight ‘triggering’ points? Briefly:

Differentiating Yourself Part One

How do we show the real difference that innovation can provide?

I believe we have eight needs to achieve.

Each of us will arrive at our own personal understanding of what this “all means”.

Innovation is about achieving difference so if we all arrived at the same point of understanding then we actually are defeating ourselves from the very beginning

So what are these eight ‘triggering’ points? Briefly:

Extreme Edges- Tough Choices

Within our present business, we are being many ‘transforming’ questions around technology. For instance, the cloud asks a lot of questions for us to determine and decide what ‘resides’ where, what stays inside, what can be dispersed out. Decisions we make will alter our performance ability and how we compete, how we connect and interact.

Are we smarter, can we download the software seamlessly, can we determine what data stays where? What is valuable, what is not, can we layer on increasingly complexity but at the same time strip away unnecessary activities or analytics?

Each of us is making tough technology-related decisions that will determine our abilities to evolve or simply fade away due to this set of evolutionary questions we are all facing.

9 Stages for building innovation fitness

St Gottard Pass

Achieving innovation fitness is a journey- to get there we often have to manage the switchbacks as we build our capabilities and capacities to innovate.

  1. Getting Started – Understanding the Needs & Imperatives of Innovation Fitness
  • Why we must travel this critical path for Innovation.
  • The meaning of dynamic capabilities and innovation fitness landscapes
  • Merging  the theory with practical reality to produce new outcomes and positive results.
  • Focusing on resources and performance – why is this important
  • The problem is knowing what we have and what we really need

The Impact Needed From Innovation

The shifts taking place around innovation have been significant in their impact

There is a lot changing in and around innovation, are we accounting for it as much as we should?

The shifts taking place around innovation are been hugely shaped in how digital transformation continues to grow in its importance. How it is influencing much that is surrounding innovation, as it continues to disrupt in faster, demanding ways, where it deconstructs.

It is forcing us to reconstruct our innovative thinking, so as to gain from all this transformation occurring all around us.

Doesn’t the innovation needle keep shifting constantly

Shifting the Needle

Often we are guilty and ignore many of the constants that are required to be overcome in our innovation organizations. We need to ‘set in place’ many aspects of innovation to work. I call these those anchor points, otherwise, we often are simply increasing the layering on, more and more, not giving enough emphasis on how to integrate these into a newly emerging practice of innovation that builds on a solid foundation. Let’s reflect on the changes occurring innovation.

The basics of innovation still form around building the engagement, leadership, and involvement, in constructing a culture, the climate and environment needed, so as to allow innovation to evolve and thrive. Then there is that need for constant investment in people, in our networks and relationships, that all need to come together. These are the foundation to build innovation capacities.