The Eight Essentials of Innovation
The Eight Essentials of Innovation – Large companies find innovation hard, they are usually much better at executing strategy than they are at innovating. Which is why many large organisations fail to achieve growth through creativity and instead focus on optimising existing businesses. Innovation and Creativity Innovation is a complex endeavour it requires practices and processes to structure, organise and encourage it. McKinsey have identified eight essential aspects and codify this into an operating system. The first four Aspire, Choose, Discover, and Evolve are strategic and creative in nature. The second four; Accelerate, Scale, Extend and Mobilise deal with how to deliver and establish an innovation cadence in the operating model. Aspire A far reaching vision can be a compelling catalyst, provided it is realistic enough to stimulate action today. Establishing an aspiration target for innovation is not enough, the specific values need to be apportioned to relevant business ownersContinue Reading