Vadim Kotelnikov, founder of Innovarsity    

The Need for Strategy Innovation

Successful vs. Failing Companies

   

Vadim Kotelnikov personal logo   Vadim Kotelnikov photograms  

 

Strategy Innovation: Successful vs Failing Companies

 

 

Gary Hamel innovation quotes

Gary Hamel

Strategos

Dakota tribal wisdom says that when you're on a dead horse, the best strategy is to dismount. Of course, there are other strategies. You can change riders. You can get a committee to study the dead horse. You can benchmark how other companies ride dead horses. You can declare that it's cheaper to feed a dead horse. You can harness several dead horses together. But after you've tried all these things, you're still going to have to dismount.

 

Failing Companies

In a constantly changing business environment, failing companies mistakenly assume that the initial strategy is correct. Top managers never question and never revise it. They try hard to make the strategy a success until it becomes obvious that the company is moving in a wrong direction.  >>>

Some companies make even a bigger mistake they outsource strategy development, a main source of their competitive advantage, to outside experts, and have problems afterwards with adjusting the strategy rapidly enough to a constantly changing strategic landscape or internal capabilities.  >>>

Successful Companies

Highly profitable innovative firms understand that they need to be innovative in how they respond to the constantly changing strategic landscape and ensure they could be readily adapted to unforeseen challenges and emerging high-potential opportunities.

Successful companies reassess their past strategic decisions periodically, ask learning SWOT questions, play strategic simulation games and use the results of these exercises to adjust corporate strategies to meet new realities.  >>>
 

    

Peter Drucker on Innovation

You can't do carpentry if you only have a saw, or only a hammer. It's when you put all tools into one kit that you invent.

Peter Drucker

Stephen Covey on innovation

Strength lies in differences,

not in similarities.

Stephen Covey

 

 

   From the same bunch of the keys to Innovation Success 360           Emfographics logo - Emotional Infographics          Vadim Kotelnikov personal logo      Case Studies     

Drivers of Change Competitive Innovation Culture of Creative Dissatisfaction Invention quotes PDR types of innovation What drives change - internal and external drivers

Creating Change    Strategic Flexibility    Leading Innovation