Last Wednesday, in a suburban New Jersey warehouse converted into conference space and a cooking show set, I joined 80 managers assembled to discuss their company’s strategy. We had helped design the two-day experience and were at the point in the flow of the off-site when we hoped we would hear some new, breakthrough insights.
The anger that fuels my mission today surges from a speech I heard a year ago, in Las Vegas, in a packed conference hall. The keynote speaker opened with the line: “I have come to believe that large organizations cannot innovate. They produce ‘innovation antibodies’ that attack new ideas.”
You have an idea that will generate new profits for your company and make you even more of a hero. You can already feel the pats on your back and the industry keynote speech you will deliver, humbly explaining how you did it.
The world seems to have suddenly discovered a nirvana of agile prototyping. Some call it lean or lean start-up, some use human-centered design or design thinking, and you may even hear reference to agile or scrum. Whatever the name, the core message is the same: stop trying to build an idea (a business plan, product, marketing message) to perfection. Instead, conduct small experiments with your stakeholders to learn and improve.
The days when innovation was the sole responsibility of the chief innovation officer or corporate venturing group are over. Today companies are realizing they need to harness the innovative power of all their employees if they want to grow.
Putting Strategic back into Strategic Planning
In the last article of this series, we started covering the shortcomings of the strategic planning process (SPP). We said that a fast-changing environment, often referred to as strategic acceleration or heightened rate of competition, is detrimental to the strategic aspects of the typical SPP.