They said “innovate or die”.. so, why do you keep putting it off?

Now and then, you fancied the idea of turning your business into an ambidextrous organisation. Of course, you know all the soundbites on the "three horizons" and other latest innovation strategy frameworks. And you were just about to kick off your "innovation programme"... and it sounded so fun when your CEO talked about "working with startups!"...but Covid, economic downturn, wars and other dramas decided to test the immunity of your products' market fit, intrapreneurial culture, and your actual appetite for exploration and uncertainty.

And how are you doing now when the next crisis is just around the corner? Gasping for air or trailblazing carried on the shoulders of your motivated innovative teams?

Even if you are somewhere in between, you should still count yourself lucky. But, if you don’t believe in luck, now is the time to prove it. Given the “robots are coming for your jobs” and new entrepreneurs coming for your market this might be your last (small) window of innovation opportunity…

So what is this “ambidextrous organisation” really about?

For a human being, ambidextrous means being able to use both the left and right hand equally effectively. Organisational ambidexterity is similarly a challenging mental act that requires your company to carry on exploiting your current resources and markets while actively exploring new frontiers. In other words, it is an organisational ability to manage the business that feeds you, while looking well ahead into the future and adopting your business capabilities to cope with tomorrow’s demands.

What makes this challenge more complicated is that an average organisation is designed with everything but exploration in mind. As an example, just think about how you define success. It’s all about returns and efficiencies i.e., everything you get from sweating your current assets and capabilities. Why would your management team even think about exploring new, untested waters if this means taking an eye off of delivering their targets… and bonuses?

Yet, to thrive, your business needs to gaze into the future, while protecting its current cash cows just enough for them to carry you there without too many bumps and setbacks. Abraham Lincoln said, "The best way to predict the future is to create it". Just do it, she says! But it's easier said than done. It isn't an easy, life of an innovator inside a corporate. There are perceptions and cultures to change, and red tapes to cut just to start with, but we are here to help. Schedule a short free call to discuss your challenges. I'm sure there is a solution!

In the meantime, here are a few articles and books to inform you and to help you stay ahead of the pack.

• Harvard Business Review’s analogy of the Roman god Janus with two sets of eyes — one is looking behind, the other focusing on what lay ahead is a pretty good one. Here is how to do just that.

• “The Innovator’s Dilemma” — the must-read for any manager being serious about the longevity of their organisation. It is a satisfying read with plenty of insightful analysis. You will learn how failure is intrinsic to your quest for new products and markets, especially if you develop disruptive technologies, but also how often you need to take action before drawing any detailed plans. And sometimes it’s all about the value of pure learning. Just think how you would sell this idea to your CFO!

Now, here are three of our absolute favourites, without which no ambidextrous manager should live. All three are your practical guide on how to innovate while running and growing the core business.

• Start with "The corporate startup." Then all your possible questions will be answered in practical terms by "Business model generation" and "Value proposition design." The trio will take you step-by-step from how to design your innovation portfolio, all the way to how to get your whole organisation fired up about building a successful and sustainable future. We love the elegant step-by-step process!

• And when you finish the above …., dive into the tales of "Non-bullshit Innovation" from David Rowan. It is a hugely valuable source of examples of how real innovation should be done and with... no b***s*it. It’s an enjoyable read, too!

So here is to another few weeks of Christmas lull at your disposal... Up-skill, enjoy, and if everything else fails, your business might become yet another proof that 'creative destruction' is the primary engine of economic progress. Try not to do it! But more on this maybe in a few weeks’ time…

Next time, top five biggest innovation in Media & Entertainment, then more on why you should never think of innovation as a “program,” and how innovation is a team sport and not serendipity…or something along those lines!

Get in touch with your innovation challenges and reflections!

@AnnieK