Innovative companies generate an annual TSR that is on average 3.6 % higher than those of their peers. Still, while 80% of innovation executives said innovation was a top-three priority at their companies, only 30% said their organizations were good at it. In our experience, there are four, often interconnected, reasons that innovation programs fail to deliver real results. TORQUE, NO TRACTION - Many organizations remain unclear about the innovation ambitions and each unit’s role in achieving those. People therefore work busily on new ideas, but they are not pulling in the same direction. ABSTRACTION, NO ACTION - Other companies fail to link their strategies to customer-centric idea generati
Some of the hardest employees to manage are people who are consistently oppositional. Most often, these behaviors are meant to make the employee look strong and mask a fear of change, an aversion to anticipated conflict, or the worry that they will look stupid or incompetent. There are three distinct approaches that can help you get the best from oppositional employees: - adjust job responsibilities to leverage their strengths - temporarily overlook individual style while the person adjusts to their new circumstances - finally, consider that they may be right, knowing where to draw the line Sometimes, the behavior of an oppositional employee is so damaging to their team or colleagues that th
A lot of ink has been spilled telling the stories of companies felled by digital disruption (Kodak, Blockbuster...) What gets far less attention is the way traditional incumbents are winning at the digital game. Companies like Starbucks, John Deere and Unilever have huge advantages - resources, customer relationships, and global scale, to name just a few - that when tied to the right digital strategy give them the edge over smaller rivals. Successful digital transformation must rest on a foundation of smart digital strategy. And smart digital strategy, like traditional business strategy, is about making wise investment choices to maximize competitive advantage, growth, profit, and value - an
If you start paying less attention to what makes you you (your talents, beliefs, and values) and start conforming to what others may or may not think, you’ll harm your potential. Unfortunately, our fear of other people’s opinions (FOPO), is part of the human condition since we’re operating with an ancient brain. A craving for social approval, the desire to fit in and the paralyzing fear of being disliked undermine our ability to pursue the lives we want to create. If you want to conquer FOPO, you’ll need to cultivate self-awareness and develop a strong and deep sense of who you are. When coming up with a personal philosophy, ask yourself a series of questions: "When I’m at my best, what beli
