A practical street level view on innovation
As an idea management company we work with some of the most innovative and forward thinking businesses and people every day. We also get to hear the frustrations and challenges that businesses of all shapes, sizes, sector and geography face when thinking about and delivering their innovation goals and strategy.
Over a series of posts in this Innovation Mix series we will use our research, experience and expertise to explore these challenges as we see them and discuss some of the thinking that may help you to find a path that works for your business. These posts should prove useful for any one for whom finding the right mix, approaches or strategies for innovation within their business is important.
The innovation ecosystem
The above quote is a key statement when considering the underlying theme of this series. When we talk about innovation we do so within the context of an innovation ecosystem that we define as having:
- Balance/Mix of innovation types
- Structure (process, capabilities, culture, funding)
- Metrics & tracking
Every business will tell you that innovation and new ideas are critical to their future success. They will tell you that it is on the agenda of their management or CXOs. However, beneath the veneer or rhetoric there are only a handful of companies that can truly claim to do innovation well. The above are common characteristics amongst those that do and we will explore each aspect of this ecosystem, sharing examples and insight as we do so.