Ideas are about potential. Innovations are about results.
by Andre Laurin
Tuesday, December 23, 2008
Times are tough – everyone is feeling the pinch somehow.
It is for this very reason that I took notice of an aggressive marketing initiative undertaken by a venerable consumer brand over the past couple of weeks. Not only are they showing-up more often than usual, in more unlikely places and in non-traditional ways, they are actively engaging the consumer to help drive their innovation process. This got me thinking about innovation leadership and ultimately, what one characteristic separates the genuine article from the mere poseur; and the answer inevitably came down to action.
For all the noise being made around innovation, the determining factor for those looking to push ahead is one of getting to work – even though there isn’t yet a global Standard Operating Procedure for implementing innovation processes, the organizations that execute towards growing this competency tend to not over-study the matter; they see value points, select the partners that best fit their aspirations in synch with their operational DNA and then they move.
The “push-button world” we live in today isn’t kind or patient to matters that require learning; however, that is precisely why there is such an opportunity for leverage: because the underlying value of the innovation process is so great. Even the most ardent nay-sayers know it. Resistance comes from fear of the unknown, which is amplified in times of greater uncertainty. And because we are in such an era, the time is ripe for the great to be noticed.
As such, these are verdant times for leaders to stand-out among the crowd for two reasons:
- The perceived risk they take in trying something different is in sharp contrast to everybody else circling the wagons
- The superior business performance they drive as a result of their actions eclipse average returns
The one thing that I feel differentiates the dive into innovation process bliss from other corporate growth activities is the opportunity cost of not doing so. As organizations begin to be recognized for their engaged innovation leadership, customer, suppliers and work candidates will increasingly choose them over their peers. So when considering the value of moving, the immediate cost of innovation inaction is tactical. The long-term cost is strategic and may prove yet to be the costliest inaction of all.