Sunday, January 27, 2019

Why bother with Innovation?

Its costly, distracting,uncertain,fuzzy…. There are more urgent things to do.
Top and bottom line targets, investor pressures, Competitive forces — obviously these need more attention. So why bother?
It might be pertinent to look at Mckinsey ‘s 3 horizons

First featured in ‘The Alchemy of Growth’, it explains the three horizons in any business . The current, adjacent and disruptive. Optimise the current, grow with adjacent and be ready for the disruptive.
Too many firms have bitten the dust focusing on / being happy with the first. ( Nokia, Blackberry, GE, Yahoo….)
With cycles of obsolescence getting shorter thanks to technology, both individuals and firms need to work on ALL the THREE horizons simultaneously.
Its not a ‘Nice to Have’. Very quickly , it is separating the ‘Haves’ and the ‘Have Nots’!
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