470: Strategies for enhanced product innovation in organizations – with Andy Binns
Jan 1, 2024
auto_awesome
Andy Binns, a management advisor and author, shares strategies for fostering innovation in organizations. They discuss how established companies can compete with startups by building new ventures. Topics include the role of a Corporate Explorer, successful innovation strategies of companies like Microsoft, and the importance of passion and small experiments in corporate innovation.
Established organizations can innovate successfully and beat startups at innovation with the right strategies.
Balanced corporate innovation requires visionary leaders, effective communication, and leveraging assets and capabilities.
Deep dives
Established organizations can innovate
This podcast episode discusses how established organizations can innovate and create new products and ventures. It acknowledges that the culture of innovation may be lacking in established organizations and emphasizes the importance of addressing this challenge.
The role of corporate explorers
The episode highlights the role of corporate explorers in driving innovation and change within established companies. It showcases examples of individuals who have the vision, commitment, and passion to disrupt and drive new revenue streams, citing success stories like Microsoft's launch of 365.
The need for balance in corporate innovation
The conversation addresses the need for a balanced approach to corporate innovation, combining good processes, practices, and an enabling culture. It emphasizes the importance of visionary leaders who believe in solving customer problems and build support within the organization through effective communication and collaboration.
Key tools for successful innovation
The episode examines some key tools and concepts discussed in the book 'Corporate Explorer Fieldbook', such as hunting zones and scaling through ecosystems. It underscores the significance of defining clear boundaries and focus areas for innovation efforts, as well as leveraging assets, capabilities, and capacity to scale successful ventures.
Insights for product managers on fostering innovation in corporate environments Today we are talking about how established organizations can innovate, resulting in new products and ventures. Most of us who have been in established organizations, know this can be challenging as a culture of innovation is often lacking. Joining us is Andy Binns, a management […]
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode