With so much uncertainty about, well, everything, people are realizing that innovation — the process by which new things create value — is essential to thriving going forward. In my work advising senior teams on strategy and innovation topics, I’m getting a lot of inquiries along the lines of, “We need to create an innovation capability, but we don’t know where to start.”
5 Questions to Build Your Company’s Capacity for Innovation
It’s a discipline that must be learned and repeated, like any other core business competency.
October 15, 2021
Summary.
Innovation is a discipline that can be learned and repeated, but it involves organizing and operating differently from how you manage the regular business. This article sets out a set of best practices for managing innovation, structured around five big questions that you can work your way through in about 30 days: What is your growth gap? How will your innovation practices be governed? What criteria will you use to allocate resources for innovation? Where does your innovation or venturing group belong? And, finally, how will you get started?
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HBR Learning
Innovation and Creativity Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Innovation and Creativity. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Unlock your team's curiosity and willingness to take smart risks.
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New!
HBR Learning
Innovation and Creativity Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Innovation and Creativity. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Unlock your team's curiosity and willingness to take smart risks.