'cycle' of innovation
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In the study of innovation models, it should be apparent that companies change significantly as they move through the industry lifecycle. The type and kinds of innovation they practice also change. Last week we looked at how management changes to a mechanistic structure - consider that discussion.
How do companies survive beyond one 'cycle' of innovation? What are practical things an organization can do to keep products strung out over several phases of the lifecycle curve at the same time? How can organizations maintain, simultaneously, an entrepreneurial culture supporting radical innovation, a customer focus providing strong incremental innovation, and cost coconscious supporting process innovation? Can companies in the specific phase be disruptive innovators?
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In the study of innovation models, it should be apparent that companies change significantly as they move through the industry lifecycle. The type and kinds of innovation they practice also change. Last week we looked at how management changes to a mechanistic structure - consider that discussion.
How do companies survive beyond one cycle of innovation?
Companies survive beyond a cycle of innovation by observing developments outside the company. When innovations outside outpace the company's business model, the company loses customers, revenues, and profits. The companies that survived start with a new innovation, search for a repeatable business model, build new infrastructure and survive by executing the model. In other words the company that is ...
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