The changing global economy creates special challenges for leaders of multinational subsidiaries. History shows that innovation is key to survival. This series of articles explores this challenge and offers subsidiary leaders a way to identify and implement innovative strategies to sustain local operations and create added value for their parent corporation. It also looks at how corporate managers can help drive more innovation from global … [Read more...]
Strategos consultants write articles about a variety of innovation practices for leading on and offline publications. We also run a blog where members of our team regularly share their thoughts on a broad range of innovation topics.
All too often, businesses view innovation and strategy as unconnected. But ideally, the two go hand in hand. Don’t let these common misconceptions about innovation and strategy hold your company back. Strategy and innovation should work together in a virtuous cycle: strategic direction guides the search for ideas, and the patterns in our ideas inform and shape the evolution of strategic direction. Take advantage of the inextricable … [Read more...]
Many companies aspire to be innovative, and they religiously copy the practices of industry leaders. However, these companies rarely achieve the same success. Why? They layer the copied processes and tools on to existing infrastructure without first addressing what’s keeping them from being innovative in the first place. One CEO summed up his company’s dysfunctional approach to innovation succinctly – “We say innovation is our top priority, but … [Read more...]
Imagine Apple without Steve Jobs. One can't help but ask: Can companies achieve breakthrough innovation without a visionary CEO? Can innovation be embedded into the DNA of an organization, such that it repeatedly brings to market game-changing products and services? Our review of today's most innovative companies reveals that a systematic approach to innovation can be as effective for driving growth as a visionary CEO, and perhaps even more … [Read more...]
Many organizations are abuzz with the rhetoric of innovation, but most are suffering from a massive rhetoric-reality gap. It's likely these organizations are blinded by one or more of the seven deadly myths of innovation. … [Read more...]
After investing heavily in developing and revealing a new strategy, most organizations, a few years later, discover that they haven't revolutionized the industry or become a global leader in xyz as predicted by their strategies. Why? A key cause for missing strategy goals is that leaders don't invest the same amount of time, energy, resources, passion and urgency in managing the implementation of the strategy as they do in setting the … [Read more...]
In today's business environment, the ability to rapidly rally the entire organization around its new strategy is more critical than ever. No one has any spare time or resource, and everyone needs to quickly get the benefits of their strategies. Nevertheless, few organizations have realized the full potential of their strategies although they had invested heavily to develop robust and attractive strategies. Apparently, some things are getting lost … [Read more...]