Source: Every Business Is a Growth Business, Ram Charan and Noel Trichy
have seemingly done well thinking from the inside out. 3M achieved legendary
success as an innovator by giving its people room
their ideas in quasi-entrepreneurial fashion. For years, it ranked among
the leaders of FORTUNE's list of most admired companies. But during the
first half of of the 90s, 3M grew its top line less than 4% despite the
brilliance of its entrepreneurial technologists. There wasn't enough
feedback from the marketplace –
missing were the
insight into the customer's mind, and the
needs that could have translated inventiveness into
powerful growth. In late 90s, new leadership got the company back on
outside-in growth initiatives.
Toshiba’s approach is to develop
strategic alliances with different partners for different
technologies because a single company cannot dominate any technology or
business by itself...
"Three Legged Chicken" – a Radical Innovation Project
joke reveals unforeseen technical uncertainties of a radical innovation project.
man was driving along a freeway when he noticed a chicken running along side
his car. He was amazed to see the chicken keeping up with him because he was
doing 50 MPH. He accelerated to 60 and the chicken stayed right next to him.
He speeded up to 75 MPH and the chicken passed him up. The man noticed the
chicken had three legs. So, he followed to chicken down a road and ended up
at a farm. He got out of his car and saw that all the chickens had three
asked the farmer "What's up with these chickens?"
farmer said "Well, everybody likes chicken legs. I bred a three legged bird. I'm
going to be a millionaire." The man asked him how they tasted.
farmer said "Don't know, haven't caught one yet."
More Innovation Jokes