Literally every company struggles with this
Every company struggles with finding those future-obsessed, ridiculously creative, innovation-minded people who can conceive, collaborate, and create the company's new "killer" products and services.
In today's innovation economy, companies' market position and value are tied to its capacity to develop and bring to market novel and useful products and services that solve customers' important yet unmet needs.
Many companies "check the box" with a pipeline of INCREMENTAL Innovation, namely, products and services that make a small (and expected) improvement on a previous version.
Alas, data show that such INCREMENTAL Innovation doesn't change the company's business trajectory. Many case studies demonstrate this point, showing such strategy never produces a real market edge. Look around at companies in every sector, and you'll quickly notice such examples.
The large bulk of business innovation efforts fall in this inconsequential category.
But there's a different type of innovation, which transforms markets, companies, businesses, and minds. This IMAGINED Innovation breaks away from the norm, producing a totally unexpected product/service that solves the customers' pain and needs in an entirely novel way, leaving all other services and products far behind.
IMAGINED Innovation is a powerful business strategy. When executed successfully, it catapults the company's business, position, and perception and accelerates its earnings by orders of magnitude; at the same time, it also strips the products and services of competing companies of their luster, reducing them to the unattractive rank of "old school".
Which camp is your company in? The INCREMENTAL or IMAGINED?
What sets the two innovation camps far apart from each other is the quality and profoundness of the INSIGHTS and IDEAS.
Yet, surprisingly, IMAGINED Innovation doesn't require large budgets. Just look at the type of mind-blowing innovations coming out of certain small startup teams.
It is never about budget or resources.
But it is always about people and, more specifically, about people with a certain constellation of abilities, competencies, and traits.
The single most important factor behind the profound INSIGHTS and IDEAS that produce IMAGINED Innovation is the sum total of human capital — the unique human minds — that fuels this strategy.
Alas, such minds are tricky to identify, and many of the conventional "markers" will mislead you to thinking you struck gold.
Do not use or rely on people's education, pedigree, job titles, industry experience, or patent filings. These won’t get you anywhere.
Instead, "probe" the human mind directly and authentically to discover and uncover what actually and truly matters. Don’t just “check the box”.
Seek and strive to uncover extraordinary human capital. That is where you’ll make your strategic, priceless impact.
To achieve this goal, use AI as a critical element in your IMAGINED Innovation strategy. One of the transformative advantages of doing that is you can "probe" human minds at large, anywhere and everywhere—inside your business, across all your units and divisions (including those you might have traditionally overlooked), and outside your company (in any pool, campus, and community).
IMAGINED Innovation is a company-future strategy. Approach your current talent base as the most valuable asset your company has, and utilize technology to “uncover” such extraordinary minds, bring them together, empower them, and unleash them. The rest will follow.
Given what’s at stake for the company’s future, we believe it’s best that CEOs announce and spearhead this strategy and give it the resources, visibility, durability and priority it needs to succeed.
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