Strategy - MBA Short Course: Innovation
- Life Time Access
- Certificate on Completion
- Access on Android and iOS App
This is an 30+min lesson about “How do you develop and grow a disruptive innovation next to your core business” This is a hot topic among CEO’s and their executive teams. They all realize that they have to innovate, disrupt and can’t be left behind. However developing and growing a disruptive innovation is more difficult than people think.
In this lesson, I will offer in this talk 6 evidence based tips on how leaders should think about those challenges. The stories is based on research, and uses several great examples to make this story sparkle. This are the cases of Post-It (3M), Kodak, Nespresso, Medtronic and British Airways.
This story is relevant for for people in a wide variety of industries. But particularly so in traditional industries where there is a plenty of disruption going on. For example the Financial Services industry, it therefore is important to understand how to grow and develop disruptive innovations.
In short, it’s a very interesting lesson with good examples with several key take aways .and lessons that can be directly applied to your company.
- No specific prior knowledge is required, but in interest and understanding of business and strategy is helpful
- Understand why it is so challenging to manage disruptive innovations next to a core business
- Make better decisions within corporate to deal with managing innovations
Here we explain the first difficulty inherent to disruptive innovations that your core customers will lead you astray!
The second difficulty is that the market created by the innovation appears to be an extension of the the core market when in fact it is comparing apples and oranges.
The third difficulty is that the innovation conflicts with the core business – it’s a called a disruptor for a reason!
Selling is important. Luckily there is a framework that can help us.
Here two well known examples of companies that used data in order to convince their organisation of the disruptive innovation.
Change or Die
It us usually, but not always, better, to grow the disruptive innovation in a separate unit.
We have to decide what parts we keep in common and what parts we keep separated.
Seperation doesn’t mean the conflicts have gone away. You have to actively manage animosity between the core and the innovation.
In this final video, we stress the point of making to allow the innovator to have strategy that is appropriate for them (rather than for the core), highlighted with the examples of Kodak and British Airways.
The final quiz based on the previous videos