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1 – 10 of 17Peter Skarzynski and Doug Schaedler
This article integrates observed leading practices for nurturing new businesses into a systematic approach for assessing and managing the risks of entrepreneurial businesses…
Abstract
Purpose
This article integrates observed leading practices for nurturing new businesses into a systematic approach for assessing and managing the risks of entrepreneurial businesses (start‐ups and new ventures within large organizations).
Design/methodology/approach
Extracted management practices from systematic observations of successful and failed entrepreneurial business.
Findings
The management practices of open innovation, experimentation‐driven discovery, and future‐back migration mapping can form the foundation of a systematic toolset for assessing and mitigating the basic risks and unlocking the value of entrepreneurial businesses.
Research limitations/implications
Since the three management practices described are recent innovations, their benefits were not systematically qualified.
Practical implications
These three management practices could help management and funding providers in VC and corporate environments weed out unviable ideas while nurturing promising opportunities that evolve into successful businesses. The end result should be that more good ideas will be funded, creating greater returns for capital providers and opportunity managers.
Originality/value
Illustrates new application of three recent management innovations that can help unlock the value of entrepreneurial businesses.
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Peter Skarzynski and Jorge Rufat‐Latre
Disruptive innovation is particularly important during recovery periods, as companies need to win back customers with radically new value propositions. The purpose of this paper…
Abstract
Purpose
Disruptive innovation is particularly important during recovery periods, as companies need to win back customers with radically new value propositions. The purpose of this paper is to pull back all of the clutter and to present three critical lessons that companies must consider in their pursuit of disruptive innovation.
Design/methodology/approach
The lessons were extracted from systematic observations of successful and unsuccessful industry disruptors.
Findings
Three key lessons were uncovered: the ability to anticipate and act on market discontinuities and unmet customer needs, with a particular focus on the business model; The ability link incremental and breakthrough innovation efforts by focusing on a single, shared aspiration; and the recognition that disruptive innovation can inform strategy, just as strategy can (and should) inform disruptive innovation
Practical implications
These three lessons could help companies envision and commercialize disruptive innovation that dramatically reshape the competitive landscape of their industries.
Originality/value
This paper is targeted at companies seeking to offer dramatically new values to their customers and fundamentally alter the competitive balance of their industries. Envisioning and commercializing disruptive innovations is a means to this end. By applying the lessons learned from successful and not so successful innovators, companies have a better chance at winning.
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Peter Skarzynski, Dave Crosswhite and Chris Jones
The authors believe that too many large organizations mistakenly see innovation as a capability challenge that can be addressed through the development and allocation of resources…
Abstract
Purpose
The authors believe that too many large organizations mistakenly see innovation as a capability challenge that can be addressed through the development and allocation of resources when the real problem is a lack of strategic direction and alignment resulting from insufficient involvement of C-Suite leaders. This paper aims to address this issue.
Design/methodology/approach
First the authors explain the downside of seeing innovation primarily as a resources challenge. They trace the growth of functionalization, which they warn can make the innovation process capable of only incremental achievements. Then they show how to promote C-suite participation in the innovation process.
Findings
Leading innovation performers understand that there are two critical “responsibilities” that only C-suite executives can accomplish: enabling cross-boundary cooperation; and granting the permissions needed to pursue longer-term or other higher risk opportunities.
Originality/value
The authors explain how successful companies foster C-suite participation in breakthrough innovation by a variety of approaches, including: conducting regular C-level portfolio reviews; identifying strategic focus areas for innovation exploration; using active C-level sponsorship of larger innovation opportunities; and creating separate incubators for developing breakthrough opportunities.
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The purpose of this paper is to present and an interview with Rowan Gibson, a global business strategist, bestselling author and an expert on radical innovation.
Abstract
Purpose
The purpose of this paper is to present and an interview with Rowan Gibson, a global business strategist, bestselling author and an expert on radical innovation.
Design/methodology/approach
This briefing is prepared by an independent interviewer.
Findings
Rowan Gibson teaches some of the world's largest and most successful organizations how to seize new growth opportunities, create new markets and even transform industries by recalibrating their whole organizational system around the paradigm of innovation..
Originality/value
The interview provides insights into how to build and sustain a company‐wide innovation capability.
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Linda Yates and Peter Skzarzynski
Here are a few daring, innovative companies that were willing to question the fundamental business model which may have brought them success in the first place.
Among the most important challenges for leaders is how metrics and analytic tools will help or hinder the transition to the Creative Economy. This paper aims to address this…
Abstract
Purpose
Among the most important challenges for leaders is how metrics and analytic tools will help or hinder the transition to the Creative Economy. This paper aims to address this issue.
Design/methodology/approach
Many authors argue that commonly used financial metrics cause corporations to forgo crucial invests in market making innovation. Such indictments of the current system of metrics raise an overarching question: Does success in the Creative Economy require new analytic tools, or rather the application of different management mindsets?
Findings
The author believes the evidence indicates that success in the Creative Economy depends on a combination of different management mindsets and an improved deployment of existing tools.
Practical implications
In the emerging Creative Economy, making money and corporate survival depend not merely on pushing products at customers but rather on delighting them with continuous innovation so that they want to keep on buying. Financial metrics must not be allowed to subvert this goal.
Originality/value
The article suggests how a number of metrics and tools, if employed in the proper context, could promote a corporation’s success in the coming Creative Economy, a valuable lesson for leaders who must in turn educate shareholders and other stakeholders.
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