In this final of a 4-part episode, Rita McGrath discusses her upcoming book focused on how organisations can design structures that empower decision-making at all levels, embracing a ‘permissionless’ approach to innovation.
Harnessing Global Creativity for Innovat The Power of Collective Intelligence with Simon Hill
In part 2 of The Entrepreneurial Mindset, Rita McGrath, discusses the concept of the entrepreneurial mindset and the power of consumption chain analysis for businesses seeking to differentiate and innovate.
Rita illustrates how understanding each step of a customer’s journey, from need identification to product disposal, can unveil numerous opportunities for innovation and competitive advantage.
A conversation with Rita McGrath, author of ‘The Entrepreneurial Mindset,’ exploring principles for thriving in rapidly changing environments. McGrath shares her personal journey from industry to academia, emphasising the importance of understanding practical business applications.
Innovating Within the Military: Challenge-Driven Innovation and Connected Intelligence
This episode of the Corporate Explorer, recorded in London during the launch of the Corporate Explorer field book and powered by Wazoku, features Stuart Laws from the UK’s Defense Innovation Unit. The discussion explores how challenge-driven innovation has transformed problem-solving within the military, moving away from a traditional idea-generation model to one that actively involves business units in framing their issues for more scoped and implementable solutions. Laws highlights the shift towards a more inclusive innovation approach, engaging employees, suppliers, startups, universities, and leveraging Wazoku’s connected collective intelligence of over 700,000 global problem solvers. The episode also delves into the human aspects of innovation, including the creation of stakeholder personas to better understand and influence decision-makers, and the serendipitous discovery of solutions through cross-sector collaboration and challenge-driven initiatives. Laws shares insights on the necessity of a collaborative mindset in innovation, bringing public and private sectors together for impactful outcomes. The successes of this approach are exemplified in real-world applications, such as providing 5G coverage in hard-to-reach areas through a partnership between Defence, BT, and academic contributions.
00:00 Welcome to the Corporate Explorer: Innovating with Wazoku
00:43 Introducing Stuart Laws: Innovating in the Military
01:41 The Power of Challenge-Driven Innovation
04:12 Cross-Sector Innovation: Bridging Industries for Better Solutions
09:14 Marketing Personas: A Game-Changer for Innovation
12:55 Finding Solutions in Unexpected Places: The BT Story
15:13 Wrapping Up: The Future of Innovation with Wazoku
Find Stuart here: https://ideashadowcoaching.com
This episode of the Corporate Explorer series features a discussion with Bea Schofield, a specialist in Challenge-Driven Innovation (CDI), and various co-authors of the ‘Corporate Explorer Field Book’.
The podcast, supported by Wazoku, delves into how large organisations can foster innovation through a sustainable ecosystem using ‘Connected Collective Intelligence’. The conversation focuses on the principles of CDI, detailing a framework dubbed ‘LASSO’ for crafting effective challenges that stimulate creative solutions. It underscores the importance of setting clear boundaries to fuel creativity, ensuring challenges are actionable and specific, and aligning them with strategic goals to facilitate ownership and support within the organisation. The episode also covers strategic challenge framing, stakeholder engagement, solution evaluation, and prioritisation, offering insights into blending creativity with systematic processes for corporate innovation. Bea Schofield shares her perspective on the role of corporate innovators and the necessity of balancing ideation with execution to drive meaningful organisational change.
00:00 Welcome to the Corporate Explorer Series: Launching the Field Book
00:15 Introducing Wazoku: Powering Sustainable Innovation
01:07 Diving Into the World of CDI with Bea Schofield
03:59 Exploring the LASSO Framework for Effective Challenges
07:44 The Importance of Support and Ownership in Innovation
17:19 Navigating Corporate Innovation: Strategies and Tools
20:41 Selecting the Right Channels for Innovation Challenges
21:58 Wrapping Up and Where to Find Bea Schofield
Corporate Explorer Series, Innovation Ecosystems, CDI (Challenge Driven Innovation), Connected Collective Intelligence, Ideation Process, Challenge Design, LASSO Framework, Problem Solving, Collaboration, Corporate Innovation
Discover the key to successful innovation. Join Tony Ulwick, author of the Jobs To Be Done Canvas, as he shares how to define markets, uncover customer needs, and develop winning products. Learn the power of focusing on job execution and get inspired to create impactful solutions.
Hunting Zones with Andrew Binns
Brought to you by Wazoku, the Corporate Explorer series is designed to uncover the depth of insight and experience within corporations, beyond management gurus and academics.
🌐 Episode Description: Join Andrew Binns in this insightful episode of “Hunting Zones,” where he explores the world of Corporate Explorers—innovative leaders who embark on the challenging journey of building new ventures within established organizations. In this episode, we delve into the crucial aspects of inspiring and guiding aspiring Corporate Explorers, offering actionable insights for success.
🚀 Episode Highlights:
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Finding Inspiration: Discover where aspiring Corporate Explorers should seek inspiration and how to ignite the passion to solve customer problems within established organizations.
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Guidance for Stepping Forward: Explore valuable guidance for encouraging Corporate Explorers to step forward and take on the challenge of building new ventures.
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Increasing Proposal Quality: Learn effective strategies to increase the odds of generating high-quality proposals that align with business strategy and attract senior sponsors’ support.
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Getting Started: Uncover practical tips on how to get started on the challenging road of corporate innovation and guide the energy of budding innovators toward lucrative market opportunities.
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Hunting Zones Defined: Understand the concept of “hunting zones” as defined by Andrew Binss, which provide boundaries to innovative impulses, helping generate ideas in line with business strategy and more likely to attract investment.
🎯 Bounded Diversity Approach: Explore the concept of “bounded diversity” as a powerful approach to ideation within corporations. Learn how defining boundaries, or hunting zones, facilitates a free range of ideas, ensuring a strong connection to the business strategy and creating a win-win situation for idea generators and investors.
🔍 Case Study: Nvidia’s Success Story: Delve into the success story of Nvidia, led by CEO Jensen Huang. Learn how the company shifted into new market areas, building a software ecosystem alongside its traditional semiconductor business. Discover how Huang strategically defined hunting zones in gaming, autonomous vehicles, enterprise computing, and scientific computing, guiding his team towards innovative solutions and significant growth.
Tune in to “Hunting Zones with Andrew Binns” for a captivating exploration of corporate innovation, insightful strategies, and real-world success stories. Whether you’re an aspiring Corporate Explorer or a business enthusiast, this episode offers valuable perspectives on navigating the dynamic landscape of corporate ventures. 🎧✨
Wazoku helps large organizations create effective, sustainable innovation ecosystems that accelerate efficiency gains and new value growth. It does this through intelligent enterprise software that connects and harnesses the power of employees, suppliers, start-ups, universities, and the unique Wazoku Crowd of 700,000+ global Problem Solvers.
Wazoku calls this ‘connected collective intelligence’
Find Wazoku at www.Wazoku.com
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Welcome to part 2 of the Corporate Explorer series.
In this episode, titled “Strategy Manifestos,” join Andrew Binns as he delves into corporate exploration, sharing insights from the Corporate Explorer Fieldbook.
Brought to you by Wazoku, the Corporate Explorer series is designed to uncover the depth of insight and experience within corporations, beyond the realm of management gurus and academics. In May 2022, Andy attended a conference at Bosch that sparked the inspiration for this episode, revealing the wealth of knowledge within corporations about corporate exploration.
The episode kicks off with a discussion on turning high-level corporate statements into empowering Strategy Manifestos. Co-authored by long-time client Andreas Brandstetter, Chapter 1 explores the crucial role of manifestos in aligning senior leaders on strategic ambitions and communicating these ambitions effectively.
Andy shares personal experiences as a corporate explorer, emphasizing the importance of a clear strategy. The Strategy Manifesto, while not a replacement for detailed strategy plans, makes explicit the company’s strategic choices and provides the rationale for those decisions.
Discover the key element of the manifesto – portfolio allocation. Learn how companies can change their approach to R&D investment to focus on cross-business priorities, including areas of withdrawal or deliberate non-entry.
Moving on to the execution of the manifesto, Andy outlines five steps: developing a point of view, assembling facts and perspectives, drafting and iterating, addressing disagreements, and adapting for different audiences.
The episode concludes with five powerful approaches for corporate explorers to trigger change within their organizations. From outside-in exploration to cultivating sponsors, each approach requires time and commitment but holds the potential to create bottom-up pressure that shifts action at the top.
Tune in to “Strategy Manifestos” by Andrew Binns, part of the Corporate Explorer series sponsored by Wazoku, and gain actionable insights into driving innovation and strategy within your organization. Don’t miss this opportunity to explore the uncharted territories of corporate excellence!
For those interested in Wazoku, find Wazoku at www.wazoku.com