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How Big Companies Should Innovate

Harvard Business Review

They're bad at innovation by design: All the pressures and processes that drive them toward a profitable, efficient operation tend to get in the way of developing the innovations that can actually transform the business. But giving up the pursuit of innovation seems less than satisfying, if not unrealistic.

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The Most Innovative Companies Don’t Worry About Consensus

Harvard Business Review

Nick readily grasps the value in testing his ideas before asking for any full-scale operation. In so doing, you increase the speed of innovation and decrease the cost of failure. To be nimble and innovative, part of the key is pushing decision authority as low as possible (but not lower). In the case of Widget 2.0, Punish waste.

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How to Innovate with an Executive Sponsor

Harvard Business Review

Meaningful innovation requires sponsorship. At its core, Penrose's idea is the reason innovation requires sponsorship. Middle managers with limited resources and set evaluation metrics will simply operate in a predictable fashion. It's why Christensen's Innovator's Dilemma is so difficult to overcome. It always has.

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In Big Companies, Lean Is Only One Piece of the Puzzle

Harvard Business Review

In 2010, one of us was sitting in a room at the Harvard Business School with Eric Ries and a number of budding entrepreneurs. He was not your standard internet entrepreneur — the student presenting was pitching a project to increase sub-Saharan farm income, by helping farmers shift from traditional crops to rubber trees.

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A Refresher on Discovery-Driven Planning

Harvard Business Review

So you look at past projects, gather and analyze relevant market data, make predictions about how much revenue you’ll be able to generate, decide what resources you’ll need, and set milestones to reach your targets. You’re working on a new venture and you know you’ve got to create a plan to execute it. Not so fast.

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The 5 Requirements of a Truly Innovative Company

Harvard Business Review

Can you think of any business topic that’s been hotter for longer than innovation? In a McKinsey poll , 94% of the managers surveyed said they were dissatisfied with their company’s innovation performance. And yet when it comes to innovation, the gap between aspiration and accomplishment seems as big as ever.

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The Barriers Big Companies Face When They Try to Act Like Lean Startups

Harvard Business Review

When my publication, Innovation Leader, surveyed 170 executives who work in R&D, strategy, and new product development roles at large public companies, we found that 82% said they’ve already deployed some elements of the lean startup approach. Will it fall victim to “not invented here” syndrome?