Building the new dynamics into our capacity to innovate

Exploit and ExploreDo we know what are the dependencies and requirements for building and sustaining your organizations innovation success?

How do you sustain innovation, is it more through the structuring of everyday work, by creating a particular set of social rules and resources that foster specific routines? Or something different?

We work really hard at maintaining these re-occurring processes, never willing to extend and push them in different and new ways. We have actually become very static in our approaches and learning, we are not learning anew.

We often simply end up with incremental innovation that might just ‘nudge’ the growth needle but does little more than sustain us in the present and can be ‘contained’ in a tidy process that makes many, including the ‘bean counters,’ very happy until someone changes the game.

Then we need to think differently but this is usually far too late.. As demand is more volatile today we need to experiment, explore, learn and adjust. What becomes more important is the ‘work to be done, and how we go about tackling this and not the work done where we often simply ‘default too. Surprisingly Adam Smith identified this important difference in work way back in 1776.

Deeper read or quick summary? Depends on the time we have.

researching_innovationI recently wrote a post “Finding knowledge and research to help you learn and adapt.
On reflection, I should have replaced the word “research” with “time”……time to help you learn and adapt.
Finding time is a real struggle and going that extra mile to read thought leadership views, long often drawn out reports or academic papers can be a step too far, I know but I can’t help myself, it is part of my job and certainly for me, many are really worth the read in a positive end result of new learning.
In that post mentioned above, I was recommending Deloitte and their thought leadership as a good place to visit. Now I’m not sure how many of you actually did so I thought in this blog, to pick out a couple of ‘choice pieces’ and make a posting summary of these, as ones that might be useful.
So I’ve chosen two that challenge and break ground.

Finding knowledge and research to help you learn and adapt

Learning and Knowleodge Sharing“The world has never been as complex, dynamic and uncertain as it is today and the pace of change will only increase.”
We hear this consistently, our continual problem is trying to make sense of it.
So much is coming towards us and to assimilate it and turn it into value, usable value, so we can adapt and respond to it in new ways of opportunity by adding further to the knowledge by turning this into new innovation potential.
Seeking out knowledge, and being proactive, partly helps as being consistently caught by surprise makes your world even more insecure.
To attempt to keep up to date we all need to invest increasing time in acquiring a better understanding, a deeper knowledge of all the interconnected parts. Even if we are “time-starved” we simply must try and keep moving along in this understanding.
As part of my job, advising others on all things swirling around innovation, I invest significant time in researching, learning and applying what I feel is important to others, so as to understand or at least to raise their awareness to change practices, thinking or approaches.
At times it all seems to come literally flooding in, overwhelming the senses, that I just have to wait and let it settle in my mind before I can attempt to process it and translate it into something of value to me, then eventually to my clients or readers.
 

Anticipating disruption by preparing adaptive pathways to respond

Option pathways
disruptive innovation pathway options

Option pathways are those viable alternatives available when you are suddenly confronted with the need to change.

By being proactive, anticipating and structuring the options ahead you can be more prepared for disruption, you can respond with more thoughtful reactions. Have you ever considered option pathways?

Having available options so you can react to sudden changes, as more sketched out scenario’s that are representing possible variables, the better prepared you might be to respond thoughtfully.

Preparation for blunting or neutralizing possible attacks, vulnerabilities and changing business conditions is more than helpful, because you have made some investments in different possible options and far more ready to respond in thoughtful ways and not simply in those knee-jerk reactions, simply needing to respond.

Considered response, with significant parts already thought through, can safe significantly on ill-considered ones.

Walkabouts are needed for learning and testing ourselves

Walkabout picture
photo credit: Walkabout (1971) film by Nicolas Roeg

How often do you pause for thought, testing yourself, questioning even simply for ‘just those few minutes,’  to allow yourself to openly challenge where you are and what you are attempting to do?

We keep relentlessly moving on, like a wandering herd of buffalo, always looking for fresh pasture, those new feeding grounds. It’s not good.

Of course, I often get caught up in this restless pursuit of gathering more, when I spend a growing amount of my time researching innovation. I keep coming across so many things that ‘trigger’ the thinking, pushing me on.

Do you let them go, ignore them, quickly pass over them, or attempt to capture the issue as something well worth investigating further at a later stage, or just get them simply behind you in the here and now.

We need the engagement platform for translating big data learning

Knowledge BuildingBig Data is knocking very loudly on our door, how are you going to let it in and manage it?

How can we liberate that creative energy we have within our organizations, how can we achieve higher engagement?

How can we learn, share and transform the knowledge that is all around us, simply flooding in? How can we translate the data flowing in with the knowledge insights and innovation outcomes expected? How are we going to unleash the creativity that goes with new knowledge?

We need to actively encourage connected minds for value-creating opportunities and knowledge sharing for innovation to flow right across the organization. All the raw data needs connected and engaged minds.

“For this, we need to think about installing a modern engagement platform that has the knowledge and learning as its beating heart”

Building Collective Agility for Innovation

Collective Agility PostAgility is important to me. For me, agility and innovation have needed to always go together.

I named my company Agility Innovation Specialists and at its core, we state that the value of this focus can offer a real “intensity in innovation” that we believe reflects today’s world of need.

We encourage you to disrupt the accepted, to constantly challenge the current ways and push into uncomfortable territory. We suggest you seek out customers’ unmet needs, and unexplored opportunities to give a new diversity to any thinking, and then we set about accelerating these ideas to fruition. Those all need abundant and constant agility.

Exploring the Value Of Your Innovation Capital

Innovation Capital
Following on from my last post of “Place your future bets- invest in Innovation Capital” which outlined the significant contribution innovation capital plays in our economic growth and value enhancement, let’s explore some more.

Let me offer some further thoughts on its value to really capture and understand, so we can measure it within our organizations.

We have the three components; of physical capital, knowledge capital and human capital that are the innovation-related assets, these make-up Innovation Capital.

I have been arguing that innovation capital draws from the core of intellectual capital and its suggested (and broadly recognized) components of human, structural and relational capitals or social capital.

I have previously discussed this converging up, as the ‘nesting effect’
Innovation capital needs assessing and measuring so we can understand the relationship between these innovation capitals (and their present and future potential) and organization performance. We need to know the innovation capital ‘stock’.

Why, well ‘stock’ can be ‘static’ and we need to make this more ‘dynamic’ so innovation can ‘flow’ from this constant renewing of our capitals and be transformed into new value.

Place Your Future Bets – Invest In Innovation Capital

Value of Innovation CapitalRecognizing the value of our innovation-related assets is where the smart money should go, and then we need to invest in innovation capital. To gain growth and improve productivity is through innovation. We need to translate knowledge into new values.

When you pause and consider the make-up of Innovation Capital you realize it makes such an economic contribution and in a report from McKinsey & Co, they have set about identifying this to produce the above summary, covering 16 countries, to understand the real value of this Innovation Capital.

These numbers are big and still don’t fully capture everything associated with innovation as much remains ‘hidden’ or ‘attached’ to other activities as well.
We need to shift our thinking on what makes up Innovation Capital

Combining four foundation pillars.

wealth

We need to think about recognizing the ‘combining effects’ of four foundation pillars; of value creation (vc), business models (bm), intellectual capital assets (ica) and innovation capital (ic). It is the dynamics within the multiple combinations that will generate the future wealth creation we need.

We are in need of having a better understanding of the integrated value focal points of these four pillars combining, they need connecting so we can build the supporting structures and place the roof of need, our wealth creating one, to give us a new potential of harnessing our innate abilities to be creative. These four pillars offer perhaps a new core, a new transforming power, they make our activities connected and dynamic.