Most of this diagram comes from the book The Innovators Method which I read recently for and included in my trend report. The essence of the book and indeed my trend report is how to bring the lean startup approach into the organisation.
I have made the commentary in the diagram at the top referring to the pressures established companies are increasingly under to improve the rate of innovation within their organisations. This is covered in the book too but I wanted to call it out as one of the most compelling propositions from the book.
This is the one wake up call to management they should heed above all the many others they have been admonished to in recent years.
All you have to do is take a look at Apple, until very recently the champion of innovators worldwide. In a relatively short time it became the most valued and valuable company on the back of industry disrupting innovation. Now already in an even shorter time it is being questioned and people are wondering if it’s lost its mojo and can create innovative products as it used to in terms of impact and pace.
I won’t even link to articles on this prognostication of Apples lack of innovation success of late – just do a search at roughly the date of this blog post and you’ll find plenty.
It also doesn’t take a genius to know that the pace of change is accelerating and the pressure to react to the change through innovation is needed more than ever before.
The answer: think like a startup. Read my latest trend report to find out which companies have cottoned onto this already and how you can go about doing it too.