Our clients are generally amazed (understatement) by the number of relevant ideas that they are able to generate in such a short amount of time during our design thinking workshops. The key input for ideation is a genuine problem worth solving (hint: talk to your customers to find out what problems exist). Then it’s time to launch your ideation session. The ideation process is your opportunity to generate solutions by combining your understanding of the problem and the customer. Get your team together (ideally between four to eight people) and start brainstorming by applying the following five tips to increase the likelihood of a successful outcome.
Large organisations are engaging startups in growing numbers, due in part to a realisation that companies have not been built to respond to the accelerating pace of change in a timely manner, and that short of restructuring the entire organisation from the ground up, partnering with startups who are unencumbered by bureaucracy, short-term shareholder demands and employee incentives, is an easier way to tap into emerging technologies, business models and talent.
Corporate startup partnerships represent a massive clash of cultures. There are countless platforms that corporates can leverage to connect with startups such as Crunchbase, Angelist, Startup List and Gust. Add to this meet-ups, pitch nights, conferences, blogs and social media all making it easier than ever to identify and connect with startups doing compelling things in your industry or adjacent industries. What’s really lacking is a roadmap on how to work with startups.
When it comes to corporate innovation programs there’s a number of different structures that large organisations can adopt, however knowing which one to adopt can be a challenge, and oftentimes executives find themselves chasing after shiny metal objectives such as innovation labs where strategic alignment can often become an afterthought.
One of Australia’s long running broadcast networks, TEN, went into voluntary administration recently after reporting a $232 million loss. This is yet another sobering reminder that the once mighty will fall unless they begin to challenge their existing business models, despite the fact that it’s where they make all of their money today.
Do you know how well your business is performing when it comes innovation? Would you like to know how to improve your innovation capability?
Often conducted annually, employee performance reviews generally have a negative stigma attached to them (specifically at large organisations). Unfortunately, there isn’t a one size fits all solution but there are several underlying principles that every organisation should follow.
Lawrence Levy was CFO of Pixar from Toy Story through to Monsters Inc. Uncover 10 key insights on corporate innovation and culture change.
July 26, 2017
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