McKinsey: Testing for Innovation

By Shlomo Maital

 McKinsey innovate

     McKinsey Global Research April 2015 has circulated a lovely article on Innovation: “The eight essentials of innovation” by Marc de Jong, Nathan Marston, and Erik Roth. It includes a short self-test for you and your organization. Their key point: (often repeated in this space): “Since innovation is a complex, company-wide endeavor, it requires a set of crosscutting [and at times paradoxical] practices and processes to structure, organize, and encourage it.”

     Here are the eight questions you should ask:

  • ASPIRE   Do you regard innovation-led growth as critical and do you have cascaded targets that reflect this? Yes/No
  • CHOOSE   Do you invest in a coherent time- and risk-balanced portfolio of intiatives with sufficient resources to win?       Yes/No
  • DISCOVER         Do you have differentiated business, market and technology insights that translate into winning value propositions? Yes/No
  • EVOLVE         Do you create new business models that provide defensible and scalable profit sources? Yes/No
  • ACCELERATE       Do you beat the competition by developing and launching innovations quickly and effectively? Yes/No
  • SCALE   Do you launch innovations at the right scale in the relevant markets and segments? Yes/No
  • EXTEND         Do you win by creating and capitalizing on external networks?
  • MOBILIZE       Are your people motivated, rewarded, and organized to innovate repeatedly?

 

     Score yourself and your organization.   Six out of 8 or above? You’re an innovator.   Five and below – you need to make some urgent changes.

 

 

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