Innovation Without Tears

Innovation Without Tears

1. Management knows it and so does Wall Street

   • The year-toyear viability of a company depends on its ability to innovate
     • market expectations
     • global competitive pressures
     • the extent and pace of structural change
       • stand-alone efforts that compete with one another
         • for time
         • money
         • attention, and prestige
           • total innovation

2. Be Clear About Your Innovation Ambition

   • Defined as a novel creation that produces value
     • tooll
       • Ambition Matrix
         • core Optimizing existing products for existing customers
         • Adjacent Expanding from existing business into “new to the company” business
         • Transformational Developing breakthroughs and inventing things for markets that don’t yet exist

3. Strike and Maintain the Right Balance

   • balance for an innovation
     • consider the findings
       • consumer goods sectors
         • allocation of resources
       • technology
       • in the industrial

4. Strike and Maintain the Right Balance

   • In a study of companies
     • in the industrial
       • transformational initiatives
         • significantly better performance
           • for example
             • 70% of their innovation activity to core initiatives
             • 20% to adjacent ones
             • 10% to transformational ones outperformed their peers
               • Depending on the same sector so is the distribution
     • technology
     • consumer goods sectors

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