Every so often, we get a new set of buzzwords that become popular in an office environment.
Over the last 30 years we have gone from staying ahead of the curve to capturing mind share, thinking outside the box, adding value, connecting dots, engaging, pivoting, influencing and so on. (Hilarious article on it here)
The latest craze: you guessed it! Innovation. A blanket word, sprinkled on everything from 3D printing of human skin to a new bottle cap that assures even spreading of your favourite sauce on your food.
Brand managers around the world are under tremendous pressure to deliver new, bigger, bolder projects, concepts or products that will blow consumers’ minds, backed with business cases that will blow the top management’s minds.
This goes against the whole concept of innovating, trying a hundreds of times, failing, (potentially losing lots of money in the process), trying again without a tight time new product development schedule which demands exciting launches every year.
Disruption does not happen with one person sitting down and thinking really hard about the next big launch.
Innovation happens when:
1. It is part of the company’s culture where people are encouraged to experiment, will be supported if they fail, nurturing curiosity and being always open to learning new things.
2. People are recognised. Different things motivate different people. Some want financial rewards, others career advancement. Finding them and acknowledging them is the key in getting people’s engagement.
3. There is a common agenda. Top management cannot expect innovative ideas to materialise on a tight budget and time schedule while teams are expected to deliver the next ipad which will break even in 18 months. There needs to be a long term ongoing commitment. (The words every shareholder loves to hear!)
4. There is a clear definition. What is considered as an innovation for the organisation.
5. There is a clear reason. Why are you doing this? What is your purpose?
Good definition! We in fact use a 5 step model to help companies to innovate:
1. Align around your purpose
2. Prioritise projects
3. Assess and improve innovation culture and capabilities
4. Build an innovation management system (need processes, not just beanbags!)
5. Start working on different horizons in parallel
They match well your 5 points!
Great insight Julian, thanks for sharing! More coming up on this on my next post!