Get Future-Ready Now
Corporate innovation is top priority for business leaders, who invest 15-40% of annual revenue in R&D, Innovation Hubs, Spinouts or Innovation Education with mixed results.
To accelerate corporate future-readiness, during Next Step’s Executive Growth Forums, executives from different companies with similar challenges, share, collaborate and learn ways to overcome Corporate Innovation obstacles including:
- Approaching innovation in a traditional manner – sending leaders to university programs or engaging a management consulting firm to define a strategy –often out of date knowledge upon completion
- Spinning out an ‘autonomous team’ or building a joint venture to ‘go do innovation’ – with traditional metrics to measure their success
- Delegating innovation to the ‘digital department’ which might include hiring a CDO or assigning a development team responsible for digital solutions – without plans for integration into the mainstream business
- Defining new innovative solutions, business models, digital offerings based on internal stakeholders’ interests, perceptions of market needs and vision
- Limited real understanding of the end customer needs and desires when defining new solutions, business models and processes
- Successful pilot as goal of innovation project versus pilot as milestone toward goal of sustainable customer engagement
- Siloed thinking with limited collaboration or co-creation with customers, partners, suppliers or frenemies
- Lack of clear business plan for integration of innovation initiative outcomes or digital solutions into and through core business processes
- Employees and managers fear of change, due often to lack of understanding of opportunities and benefits of embracing the future.
- Believing that monopolistic strategies can block global competitors and allow business as usual.
If you are concerned about being run over by innovation, global competition and technology, contact us to participate in an Executive Growth Forum or join us to Get Future Ready Now on 28 August in Oslo Norway.