INNOVATION

"The enterprise that does not innovate ages and declines. And in a period of rapid change such as the present, the decline will be fast." Peter Drucker

Disruptive innovation is transformative, it changes the game. It can take 5-8 years to come to fruition according to Harvard Professor, Clayton Christensen. Examples are the iPhone & Artificial Intelligence.

Christensen also identified: efficiency innovation, doing things faster or cheaper; and sustainable innovation, improving current products/solutions.

As product cycles speed up, these two types of innovation dominate competitive strategies in established businesses. But why not as much disruption?

Few organisations can replicate the trailblazing innovations of Apple, of course

Truly disruptive innovation requires: visionary leaders, years of disciplined practice; a deep learning culture; & a well funded, scalable portfolio of big bets.

Not many CEO's have the longevity, risk appetite/resources and patience to dedicate to this. Hence a multitude of startups exist, vying to be innovation arms of large Tech. businesses.

Apple's innovation DNA derives from the culture of excellence espoused by Steve Jobs : seamless design quality, exceptional customer experience & revolutionising industries.

Savvy marketing has been critical: selling dreams, changing the world & unprecedented hype on product launches. Apple's consumer evangelists have made history.

Google's moonshots will of course not all bear fruit, but Robotics and Driverless cars are coming of age with AI and the Internet of Things (IoT). 

John Chambers' (former Cisco CEO) emphasis on industry changing innovation, resulted in unparalleled $1bn to $47bn sales, over a 20 year period. 

CEO longevity counts for something then !

How effective is your innovation engine and how do you measure it ?