Innovation Principles from Merle Symes
In The Innovation Edge, Merle Symes shares insights from his 50-year journey through executive roles in major companies and the vibrant world of startups. He explores how established companies, once innovative ventures, often lose their creative edge as they mature. Here are the core principles he identifies for overcoming barriers to radical innovation:
Change the Management Mindset
- Shift the management mindset to embrace innovation and recognize that managing strategic innovation is very different than managing incremental innovation.
- Acknowledge that significant risks are inherent to breakthrough innovation initiatives and they require different project management approaches to effectively manage them.
Create an Innovation Culture
- Understand that organizational culture operates subconsciously and influences behavior.
- Bring this culture into conscious awareness and reshape it to support creativity and innovation.
Revamp Processes and Systems
- Create and enhance the processes, systems, and structures necessary for effective strategic innovation.
- Establish a robust infrastructure to facilitate innovation.
Skill Development:
- Develop new skills and competencies specifically for strategic innovation.
- Adopt management approaches tailored for breakthrough innovation, distinct from those for incremental changes.
By adopting these principles, organizations can achieve ongoing and sustainable innovation, the ultimate competitive advantage. Symes asserts that the twenty-first century will usher in the Age of Innovation and the emergence of the field of Innovation, much like the emergence of Marketing and Finance in the twentieth century.