Yesterday, I spoke at Planview’s Horizons 2014 Annual Customer Conference. The objective of the event is to inspire leaders in portfolio management. Planview sells a great set of software tools that enable a company to manage its pipeline of innovation initiatives and make investment allocation decisions.
Over the past couple of weeks I have written about the seven chronic innovation problems I see each day in my work with clients in a diverse set of industries. These common ailments are evident to some degree in almost every organization I encounter.
In most companies it is difficult to identify an executive with accountability for delivering business results from innovation. Accountability gets parsed into functional roles in a sum of the parts approach to ensuring success. Given the large sums of money we spend on R&D and product development, it is almost criminally negligent that we can’t point to someone responsible for results.
The highlight of my week was speaking at an industrial client’s internal “Growth & Innovation Forum” in Allentown, PA. The event gathered hundreds of innovation professionals from within the company to talk about the opportunity to drive growth from innovation. Dozens of other people from around the world participated via live video link even though in some places it was the middle of the night.
Corporations are great at managing traditional business functions and analyzing them for any remaining scraps of waste. Manufacturing lines are expected to be statistically free of defects. Supply chain logistics and tracking are more sophisticated than ever before with data driven forecasting and inventory management.