If people try to tell you that pivoting is the new thing, that it’s the fresh Silicon Valley approach to business designed for today’s fast-paced digital world, don’t believe them.
As a leader, encouraging your employees to innovate isn’t just a nice thing to do for them. It also delivers tangible value for your business. But what exactly can you do to motivate innovation from within your organization?
What you measure matters. Consider a bridge built in Laufenburg, a town that straddles Germany and Switzerland. As the two halves of the bridge being built came together, it became (embarrassingly) clear that they would not align because they were at different heights.
Netflix made headlines recently for their unexpected decline in new subscription growth and drop in subscriptions in the US, which pushed their stock price down. Critics are asking if Netflix’s business model is relevant in the changing competitive environment, when Disney and other content owners have started pulling back their content from streaming services like Netflix in order to build their own.
With technology’s modern pace of change, how can companies (and humans) best adapt? In March, I had the pleasure of leading a workshop with Tracey Zimmerman, President of Robots & Pencils, to answer this very question and offer a few potential solutions for today’s executives.
In 1968, Olympic fans and athletes watched in bemusement as a college sophomore jumped over the high bar backward. Until that day, every gold medal winner, indeed every Olympic athlete, who had competed in the high bar had gone over forward. Dick Fosbury literally turned his back on that tradition … won the Olympics … and forever changed the way the competition is played. Within eight years, 90% of high jumpers were using what came to be called the “Fosbury Flop.” Today, the Fosbury Flop is just the way you do things.
Professor Moran Cerf contributed research and insights for this article.
I’ve had a few conversations with Sophia the Robot, an invention of Hanson Robotics making the rounds of tech conferences worldwide. Preparing for a session at Webit 2018 in Sofia, Bulgaria, I had a surprisingly engaging exchange with Sophie. (Unfortunately, she didn’t cooperate during our interview in front of 5,000 people. Stage fright, perhaps?) It’s unsettlingly easy to see how one day, after the clunkiness resolves, it will feel natural to engage with our technological colleagues. I feel I’ve gotten to “know” Sophia in a way and look forward to our next conversation.
Sometimes they don’t know it themselves. When they do, they hide it. But they are out there. Executives, managers, and business owners who want to stem innovation. If you no longer want your organization to try new approaches, if you believe that the best path to growth is to keep doing what has been working for years, this guide is for you.
The word “strategy” too often brings to mind images of uptight executives in boardrooms, with heavy binders and spreadsheets, debating critical choices. Experts will tell you strategy is “a plan of action designed to achieve a major or overall aim.” Strategy is a science, and it’s serious.
In my forthcoming book, Seeing Around Corners (now available for pre-order wherever you buy books), one of the major themes is that a major blind spot for organizations is that they tend to see the world through the lens of their existing industry. There are a lot of good reasons for this, but it can cause otherwise smart organizations to stumble.