By Susy Jackson
It's tough out there, but companies that think their choice is to innovate or to survive are missing the point. Innovation is a corporate necessity, not a nicety.
There's little doubt that innovation is going to become harder as resources become tighter and competition becomes fiercer. But, those companies that continue to focus on innovation have a rare chance to create substantial space between themselves and their competitors — those that don't will fall further and further behind.
The Silver Lining: An Innovation Playbook for Uncertain Times makes the case that today's turbulent times make mastering innovation a competitive necessity. The book aims to provide corporate innovators and entrepreneurs with practical guidance to seize the ample opportunities that still exist in today's markets.
The following 10-point checklist synthesizes The Silver Lining's key messages and provides practical guidance for leaders looking to realize opportunities in their markets. Each item links to a blog post describing the item in more depth.
Does your organization:
- Recognize today's transformation imperative?
- Have a handle on the future potential of innovation?
- Have a process to prudently prune its innovation portfolio on a regular basis
- Have clear consensus on the 1-3 top growth opportunities?
- Always ask, "How does the customer define more?" before asking people to do more with less?
- Match technological experiments ("can we?") with strategic experiments ("should we?")?
- Constantly search to share the innovation load to de-risk innovation?
- Have a plan to "love the low end" in existing and emerging markets?
- Run an innovation factory with systems and structures to make innovation repeatable?
- Have a plan to help leaders transform themselves?
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