Hey guys, first of all, great podcast, I'm glad you put this clip out there. I don't know if we need to change the definition, or just publicize better what others have come up with. Below are Blank's version of McKinsey's three horizons of innovation. In this context, ANYTHING that improved a customers life or a business process can count as innovation. The problem is when executive x says "innovation" they mean "we need to be the next uber" when the target rich environment is in just making what we do better (hello, design sprint!). Horizon 1 ideas provide continuous innovation to a company’s existing business model and core capabilities. Horizon 2 ideas extend a company’s existing business model and core capabilities to new customers, markets or targets. Horizon 3 is the creation of new capabilities to take advantage of or respond to disruptive opportunities or disruption.
Yeah, don't get me started on that! A dream without a plan is a fantasy, as they say. You know the lean canvas, right? Well I like to say that in most large companies there is only one box..."solutions". For me, innovation is a constant process. It's not very sexy, and there are no ivory towers. Once you accept that, you *might* be ready to start being successful at it :)
Hey guys, first of all, great podcast, I'm glad you put this clip out there.
I don't know if we need to change the definition, or just publicize better what others have come up with. Below are Blank's version of McKinsey's three horizons of innovation. In this context, ANYTHING that improved a customers life or a business process can count as innovation. The problem is when executive x says "innovation" they mean "we need to be the next uber" when the target rich environment is in just making what we do better (hello, design sprint!).
Horizon 1 ideas provide continuous innovation to a company’s existing business model and core capabilities. Horizon 2 ideas extend a company’s existing business model and core capabilities to new customers, markets or targets. Horizon 3 is the creation of new capabilities to take advantage of or respond to disruptive opportunities or disruption.
I like the horizons, it feels a lot more tangible and realistic than "INNOVATE 10X NOW!"
Yeah, don't get me started on that! A dream without a plan is a fantasy, as they say. You know the lean canvas, right? Well I like to say that in most large companies there is only one box..."solutions". For me, innovation is a constant process. It's not very sexy, and there are no ivory towers. Once you accept that, you *might* be ready to start being successful at it :)