The pace of innovation in technology continues at a hot pace all over the globe. In contrast, innovation in practices, procedures, policies, laws, governance and statecraft is lagging behind badly in the USA. Perhaps corollary, we've seen significant "innovation" in lawlessness and bullying by too-big-to-fail entities with complicity by government.
Innovation is another way of saying adaptation. Our continued life and prosperity depend on it.
A brilliant business mentor offered this powerful observation:
RELATIVE INNOVATION is what matters. As in evolution, rapid adaptation is a powerful success strategy. Successful organizations innovate their products and services faster than their competitors. A good way to measure this is with a "generation chart" that shows how much revenue/income comes from products and services that are a) less than a year old, b) one to two years old, c) two to three years old, and d) more than three years old. After you make up one for your organization, make up one as best you can estimate for your competitors. This can be quite powerful!
The root source of relative innovation is the rate at which you innovate your key assumptions, policies, procedures and practices. If you don't innovate the HOW of your activity at a competitive rate, the WHAT (products, services) will surely suffer. A good New Years' Resolution: Take stock of your innovation profile. Examine the core assumptions you rely on that shape your beliefs and actions. Review your key practices and policies. Plan to improve any of them that have been gathering dust. Do the generation chart exercise and get those products and services moving forward!
Just imagine the power and potential of a large network committed to innovation!
No comments:
Post a Comment