Killer Innovations: Successful Innovators Talking About Creativity, Design and Innovation | Hosted by Phil McKinney
About This Show
An award winning nationally syndicated radio show and podcast where award winning innovators are interviewed about how they used creativity and design to create game-changing — killer innovation.
Most Recent Episode
Can Large Companies Be Successful At Innovation? S13 Ep3
4 days ago
I came across a recent article where the Managing Director of Accenture Digital made the bold claim that large companies cannot do innovation. More accurately, Narry Singh said, “.. Corporate innovation does not work.” He goes on to claim that innovation at large companies do not work because “.. the firms are too slow to move – to change their work practices.” Do you think large companies can be successful at innovation?
His answer to this challenge? Work with start-ups. Sounds like a once-size-fits-all type of strategy.
I flat out disagree.
I created and ran the Innovation Program Office (IPO) at HP for 8 years where that team launched +20 new products across HP's global footprint.
Large companies can be successful at innovation with the right structure, the right culture and an understanding of how to apply to laws of innovation to them.
Here are the first six (6) steps large companies should take to be successful at innovation.
Step 1: Innovation Team Leadership
The innovation team needs a leader and you need to find that person. Some will say that you should go outside. I would encourage you to look internally first. In my experience, you have someone in the organization who can be a great leader. They are just hidden in large organizations.
Step 2: Recruit The Innovation Team
Be on the look out for people to join the team. I look for passion. I can teach the business and technical skills but I cannot teach passion. But not just passion — but passion that is executed upon. Taking recruiting for the innovation team seriously. Its the difference between success and failure.
Step 3: Innovation Governance
Be careful how you setup governance around project approval. Innovation anti-bodies will come out in droves if they think they can control the effort by being part of the approval process. In my current role as a CEO, I use governance as a way to grant approval rather than a way to exert control. For example, every employee no matter your role gets $1,000/year to work on an idea. Each team in the organization can spend up to $50,000/year on idea(s) without needing appr