The 8 Pitfalls and Sinkholes of Innovation

roadworks-ahead

Why is it we always seem to fail back into the same traps or pitfalls? Bad habits seem to always reoccur even when we work on trying to eradicate them.

For me, innovation has eight pitfalls or sinkholes that we need to consciously try to avoid. Some are in our hands, others are clearly out of our hands and all we can do is try to influence them as best we can, for what we believe is right and appropriate.

Clarifying the Drivers of Innovation Change

Drivers of Change

I always show a particular interest in statements claiming to have identified a relevant driver of innovation change, to think through and see if they are as applicable to my own situation. Often they are but the underlying force sometimes needs to be seen differently to incorporate this ‘driver’ into your innovation activities and thinking.

I try to constantly work around nine drivers of innovation change.

I periodically work through each of these and see if anything has changed or the fact I am focusing on this specific driver I can see a different angle or opportunity.

Let me share my nine drivers. If you think of any more ‘generic’ drivers let me know. These are my drivers for innovation change:

The longer term winner is open digital innovation

Open Digital Innovation

I would like to discuss the effect digital will be having on our innovation activities, be these presently opened or closed. The impact of digital innovation changes the paradigm.

Organizations can stay closed in their innovation activities but will move beyond simply themselves into a connected (closed) network, so the platform becomes the enabler and those that join share common ground but are pursuing separate value propositions. These provide a level of competitive advantage but these are increasingly transitory.

We will see a new wave of open digital innovation

So why do I say that? There are four aspects where technology will trend towards open (see more on that here: http://digitalsocial.eu/) so as to exploit our connected world to extract ever diminishing competitive advantage as the world just keeps speeding up, pushing us as technology continues to run ahead of our capacities to assimilate it.

Are you going all digital on me?

Going digital

Well, are you going all digital on me?

So there we all were, getting very comfortable in our open innovation activities, learning to collaborate and co-create outside our organizations. We had worked through some of the cultural stuff; we had established the process, practice, and tools. We even had our legal teams on board, helping sort out all the conflicting positions open can mean when it comes to dividing up the IP spoils and even had our leadership tuned in, singing our praises and even (heavens forbid) getting engaged in the process.

When the world shifts, we all need too.

Then suddenly the world shifts on its axis once again, everything seems to be digital. The buzz is big data, analytics, smart mobility, and social media, with lots of talk of interconnected devices giving us the next big paradigm in innovation growth.

The need for a modern engagement platform

 

Modern Engagement Platform

There is a real need to think through the modern engagement platforms we require, both externally with our customers and other stakeholders, and also for our internal needs and this comes increasingly from technology solutions.

The effectiveness of our management to win the hearts and minds of our workforce is getting to a very serious crisis. A global Gallup State of the Global WorkPlace survey some time back suggests only 13% of employees are engaged in their jobs.

They are emotionally invested in and focused on creating value for the organization they work for on a daily basis. They are even outnumbered by those who are negative and even potentially hostile to the organization at a rate of 2:1. That really staggers me.

Bringing final ideas to market – the hard part of innovation

Bringing Ideas to Market

It seems so simple doesn’t it – “bringing final ideas to market”. So easy to say, yet it does seem so very hard to achieve. Everything we should be aiming at is ‘successful execution’, it’s the last, hard five yards of all the work that went into something, which can be finally realized and come to ‘commercial life’.

Here in Europe it is often suggested that “Europe is the cradle of creativity”, perhaps but I think the “United States is the crucible of innovation”, it forges ideas and takes them to market far better. In the US there is this powerful push to make money far more and to realize innovation, as clearly you must focus on the ‘making money part.’

A really worthwhile report on Innovation not to be missed from Innovation Leader.

There has just been a highly useful benchmarking report released by Innovation Leader  with KPMG LLP sponsoring this and providing some of their collective insights into the different aspects of Benchmarking Innovation Impact 2018″

At present, you can download the report before it might slip behind a paywall at some later stage. I would take advantage while you can. The report provides insights from 270 innovation, R&D and strategy executives and considerable work on structuring the conclusions in highly thoughtful and valuable ways to the reader.

If you are not familiar with Innovation Leader, they were created to be a growing and essential resource for innovation, especially in the bigger organizations. It has a more specific focus on the US scene but much of what it has found is universal in my opinion. It’s editor and Co-Founder Scott Kirsner (editor@innovationleader.com) and his team are building a great point of reference and meeting point for innovators to exchange and learn from each other. Maybe you should join?

Why do I think the report is well worth you investing time to read? The report provides an excellent document that enables good discussions to be drawn from the benchmarking of many organization, to compare with your own organization. The report is laid out into four parts: 1. Creating Strategic Alignment, 2.Funding Innovation, 3 Delivering Impact and 4 Moving forward.

It offers up great suggestions on tactics, relationships and obstacles you can face in any sort of innovation program, be it an early forming one or at a more mature stage. It can allow you to communicate and suggest the needs for a new innovation approach where you need others involved but they would expect to see a validation. This report helps in all these and much more.

I am going to just focus on three parts that really caught my eye

Reworking our middle to achieve a new innovative shape

Reworking our middle

Let’s admit it; our middle management needs a radical makeover, a new fitness regime to make us far more innovation fit. Most organizations do need to change their middles as they are far from that ‘fit for 21st-century purpose’ in a constantly changing, challenging, more open innovating world.

Here is a way to “flip” this around but lets first recognize the problem(s)

The general argument goes that the middle manager is so pressured to focus on the delivery of short-term results that all their efforts are centered far more on delivering ‘just’ an effective organization, one that focuses on driving out any excess or leeway, reduce the variations, constantly dampening down potential risk and uncertainty.

So I keep asking myself “What is the role of social media in innovation?”

Social media haunts us all. For many years you first become aware, then very aware and then fully aware that social media is changing our lives.

Let me confess: I am not alone I am sure but I seem to be presently suffering from Social Media Return Dilemma. There I’ve said it, it is out in the open, “I suffer from SMRD”.

To be honest I am struggling with social media in innovation, struggling to get my head around it for my business, for me for a long time. It often seems overwhelming, do you feel the same? I worried about this years ago and still do. What is the best social media to have as part of your communicating strategy, how much time do you network?

It starts with a realization

I can see daily the amazing power that social networking can provide, it is certainly eating into my day, more and more. Is this a good thing or bad? What suffers, what benefits? The time issue has to increasingly be managed, and I have yet to come up with a repeatable plan to manage social media consistently each day into my work. I get so much from viewing, commenting, relating and learning.

I don’t have a clear enough strategy for it or where to direct my social media energy, does anyone? It continues to evolve in front of our eyes, are you cresting the social media wave or swimming like crazy to get back up on the surfing board?

I am still learning, experimenting, exploring through a combination of writing blogs, contributing to others, updating my connections, tweeting sometimes like crazy, publishing, promoting or simply clicking on a retweet or offer a “like” back to the author or the one that has publicized something that interests me. Often I do wonder all this frenetic energy leads to what end. It does nag away at me?

Questioning internally those product failures

Failure

There is a variety of different views on our product failure rates. According to some, the failure rate for new products launched for instance in the grocery sector is 70 to 80 percent in the US. For smaller US food businesses launching new products, the success rate is even lower around 11 percent.

These are really high failure rates but is this a myth or reality? How does your organization evaluate product failures? Do you really want to talk about them?

Organizations continue to push for business growth by launching wave upon wave of new products, yet many end up as just hardly ripples that simply fade away, into incremental revenue and nothing else.