Build innovation capabilities for repeatable growth
You have ambitious growth and innovation goals. Do you have the capabilities to achieve them? Innosight works with companies to create new, robust innovation systems. Our approach develops and aligns the right processes, talent, leadership, and management structures to transform innovation from an unpredictable pursuit to a disciplined process.
Innosight helps companies overcome growth challenges by building an infrastructure for innovation. Our work with Procter & Gamble points to the possibilities. Faced with shrinking product lifecycles and tougher global competition, the consumer products leader partnered with Innosight to help implement a "new growth factory."
By systematizing innovation and aligning all efforts with its long-term vision of creating "purposeful" products that improve lives, P&G tripled its new product success rate. From 2000 to 2010, revenue doubled, from $40 to $80 billion, and net income quadrupled. (Download our Harvard Business Review article "How P&G Tripled Its Innovation Success Rate").
Our experience with P&G—as well as companies like Citi and Syngenta—shows that companies need to put the right systems and structures in place to transform how innovation happens. While creating new products and services seems complex and unpredictable, companies that organize to innovate can grow more reliably and repeatedly.
We work side-by-side with enterprise leaders to generate robust answers to questions like:
- Which types of growth should we pursue?
- How do we allocate resources to prioritize the best ideas?
- How do structure our innovation portfolio to yield repeatable growth?
- How can we shape our culture to develop world-class leadership and talent?
Innosight's innovation capabilities framework is featured in our new Harvard Business Review Press e-book Building a Growth Factory.
The framework is based around four components:
1. A growth blueprint that details the types of innovation you are pursuing, along with goals and guidelines for getting there.
2. Production systems that transform the raw materials of innovation—ideas—into tangible new products and services.
3. Governance and controls that enable the management structure to scale innovations to deliver impact and growth.
4. Leadership, talent, and culture that feature the right people, in the right roles, doing and saying the right things.
Innovation Leadership Development
Innovation is an intensely human activity. And, for many executives, the skills required to successfully innovate run counter to many of the skills they have honed throughout their career. Innosight has extensive experience helping senior leadership teams and broader executives cultivate their innovation skills. Through a combination of lecture, group discussion, and small group activities, Innosight facilitators teach key concepts and provide practical exercises to allow real-time skill building. Innosight’s action learning offering takes the next step, allowing companies to develop skills and make tangible progress on critical growth initiatives.
Getting Started: Innovation Capabilities Assessment
Understanding how your innovation performance stacks up is the first step to building enterprise-wide capabilities. We work with leadership teams to assess innovation performance, diagnose organizational roadblocks, measure current efforts versus best practices, and develop a roadmap for new growth.