The Hard Truth about Corporate Innovation - Obstacles & Challenges
One of Australia’s long running broadcast networks, TEN, went into voluntary administration recently after reporting a $232 million loss. This is yet another sobering reminder that the once mighty will fall unless they begin to challenge their existing business models, despite the fact that it’s where they make all of their money today.
Corporate innovation is all the rage right now.
Companies are scrambling to stay relevant,or at least look like they’re trying to stay relevant, amidst a storm of VUCA - volatility, unpredictability, complexity and ambiguity.
We’re seeing a proliferation of innovation labs, hackathons, accelerator programs, lean startup and design thinking training programs and more popping up at large companies across the globe.
All of these are great initiatives, if done properly.
However, they usually amount to little more than innovation theatre. Feel good activities performed for the benefit of happy snaps and something to talk to in the annual report.
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The WorkFlow podcast is hosted by Steve Glaveski with a mission to help you unlock your potential to do more great work in far less time, whether you're working as part of a team or flying solo, and to set you up for a richer life.
To help you avoid stepping into these all too common pitfalls, we’ve reflected on our five years as an organization working on corporate innovation programs across the globe, and have prepared 100 DOs and DON’Ts.
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