You’ve probably heard it before. How large organizations will need to become nimbler, more responsive, and more entrepreneurial in order to stay ahead.
Do you nod your head? “Well about time too! Things might move faster round here.” Or do your hackles rise because you don’t want to work for a start-up?
How close are you to your customer or consumer? Could you get closer? Would you be prepared to spend some time in a fat suit? And old–age suit? The relevant simulation for your industry - to experience what life is like for people with those characteristics? How valuable would an experience like that be to you?
The authors of Brand New have identified an ‘Innovation Paradox.’ Their research shows that the high failure rate of new product introductions (currently nine out of ten) has not improved in the last thirty years. What’s more, companies know innovation is important to share price and company performance, yet many accept they do not devote enough resources to it. Finally, they found that companies do not focus efforts on improving their innovation performance with the same zeal that they might focus on other under-performing aspects of their businesses.
