Why Innovation?
The growth challenge
- Profitable organic growth is difficult. Research suggests fewer than 5% of companies grow more than the market. Those that do typically make bold strategy or innovation moves.
- So innovation and agility are key to compete effectively and seize new growth opportunities in a fast-changing world.
- Yet according to a McKinsey survey, 94% of executives are dissatisfied with their firms’ innovation performance!
Why innovation is difficult
- Conventional management disciplines are designed to optimise known business models in predictable markets. This favours a focus on planning, management and efficient execution.
- But this approach is not suited to the uncertainty and creativity, the more entrepreneurial nature, of the innovation game.
- Innovation, if it is done, often gravitates towards safer incremental steps, which are less likely to deliver material growth.
- Companies face a dilemma. They must innovate to drive growth and stay ahead of the competition, but this is difficult, when the main focus is operations and efficiency.
The Entrepreneur Playbooks solution
- Corporate entrepreneurship offers an increasingly potent solution. That’s why 65 percent of the top 100 most innovative companies are implementing this in some form.
- Entrepreneur Playbooks helps companies apply this approach to drive innovation, in products, services, models etc. to drive revenue growth.
- Entrepreneur Playbooks blends entrepreneurial and strategy methods to drive innovation; and provides an approach, tools and framework to manage a creative, uncertain entrepreneurial process, in a professional way, within an operational environment.
