In a previous post, I outlined 3 types of innovation. As shown in the image below, they are: Incremental innovation, Semi-radical innovation, and Radical innovation.
One question that often comes up is:
Can Idea Management really lead to “Radical” innovation?
This is a very good question. Here are my thoughts on this.
Radical Innovation & Idea Management
Before I share my thoughts, I’d like to (once again) highlight this quote by Samuel Palmisano, former CEO of IBM:
We treat innovation as if it were magical, not subject to guidance or nurturing, much less planning. If we study history, however, we know that’s simply untrue.
In other news, I like this quote!
Studies of innovation at successful companies like GE, 3M and P&G has shown this. These companies have systematized their innovation process. They use this process to create not only incremental innovation, but also radical innovation.
The key is to understand this: These days, radical innovation rarely comes from “Eureka” moments of lonely geniuses. Our modern world and technology are far too complex for that. Rather, it comes from:
- Deeper understanding of market needs, and
- Applying a company’s core competencies to address those needs radically better than current methods.
- “Radically better” is often achieved by combining new technology -and- new business model, as shown in the matrix above.
In summary,”Radical Innovation” can and often does arise from a process and system oriented approach we call idea management. I’ll share some practical tips on how to do this in a future post.