The Innovation Myth

HOW TO BE RESILIENT IN THE FACE OF CHANGE:

THE
INNOVATION
MYTH
LUMINARY LABS
WWW. LUMINARY-LABS.COM
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FOUR CHAPTERS

1. We are living in the 21st century with 20th century ideals.

2. The cracks are starting to surface.

3. We fall prey to the innovation myth.

4. Agility breeds resiliency.

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What happened in the 20th century?

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We grew. Fast.

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We built well-oiled factories.
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We developed organizational structures to serve
this intense period of growth.

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And we rolled right into the 21st century.

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Until this happened.

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The post-recession experience:

Companies in a post-recession rebuilding phase face
reduced headcount, ﬂat budgets, and yet greater expectations
to ensure company survival.

Your customers no longer buy what you sell.

Technology continues to outpace even the best-laid annual
plan.

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How deep was your bench cut?

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Services are reshaping the landscape.

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People are adopting (expensive) tech faster than
an annual plan can accommodate.

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There is no such thing as platform loyalty.

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There is no slowing down.

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Welcome to the new day-to-day.

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So why are we still budget planning like this?
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Innovation is the hot post-recession job.

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But what exactly is innovation? It’s not the “thing.”

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Nor is it in R&D.

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Innovation is the ability
to adopt, operationalize,
and reﬁne the thing. So
that you can create new
things.

Continuously.

Over time.

Beneﬁtting more than
one party, including
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customers. 27

Agility is the hallmark of a 21st century
organization.

“In essence, super-ﬂexibility is the capacity to change course, transform, evolve, and
reinvent—like a chameleon changing its color. At the same time, super-ﬂexibility is
not just about transformation and reinvention; it is also about the capacity to
withstand turbulence, to bounce back, and to stay the course, like a camel surviving
in desert conditions. In practice, it means engaging in a delicate balancing act:
deciding what to keep and how to stay the course on the one hand, and deciding
where to make swift and sudden changes in order to address new realities, on the
other hand.”

-- Homa Bahrami and Stuart Evans, authors of
Super-Flexibility for Knowledge Enterprises: A Toolkit for Dynamic Adaptation

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It’s easy if you look like this.
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Really nice fountain.
(There’s always a nice fountain.)

But what if you look like this?
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You may need to re-think the industry you are in.

Automotive (the car) Transportation (zipcar, bus w/wiﬁ)

Pharmaceutical (drugs) Healthcare (devices and services)

Media & Publishing (television, print) Experiences (multi-modal)

Higher education (college degree) Hire-ability (likely to get a job)

Telecommunications (a phone) Access to the internet (e.g., apps, email)

Beauty (expression) Transformation (cycle of looks)

Retail (aspiration) Collaborative consumption (never pay retail)

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And identify the conditions for success.

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You will need to take action.

ATTRIBUTES ACTIONS

Digital Mindset Experimentation

Calculated Risk Failure budgets

Agility Short sprints

Embrace the network Networked staff models

Open models Partnerships

Design & systems thinking Operate in the full ecosystem

Pattern detection Self-learning processes

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And persevere.

"A company can't will itself to be agile. Agility is an emergent property that
appears when an organization has the right mindset, the right skills, and the
ability to multiply those skills through collaboration.To count agility as a core
competence, you have to embed it into the culture.You have to encourage
an enterprise-wide appetite for radical ideas.You have to keep the company
in a constant state of inventiveness. It's one thing to inject a company with
inventiveness. It's another thing to build a company on inventiveness."

--Marty Neumeier, The Designful Company, Design Thinking

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This is resiliency.

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The Innovation Myth

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The Innovation Myth

Editor's Notes