Learn more about business with this collection
How to analyze churn data and make data-driven decisions
The importance of customer feedback
How to improve customer experience
How to allocate resources for innovation
Use scorecards to allow people to see the logic behind your strategic choices and lay out what good looks like for your strategy.
- In a meeting, have everyone identify two initiatives or ideas they were involved with developing recently (one which was a good strategic fit and the other that they'd have preferred not to be involved in.)
- Identify and document up to five factors that made the difference between the two.
- Identify common themes that emerge.
- Score a few actual projects.
You should now have a set of statements that define what good and bad look like.
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MORE IDEAS ON THIS
How to get started
At first, do not start with a large team or a significant budget. Instead, pick a few small projects where success can be shown and use them for training people on how to plan uncertain projects with a discovery-driven approach.
- It means planning via checkpoints,
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Consider your growth gap
Executives are seldom set up to deliver performance and growth. Instead, they typically pay more attention to day-to-day performance.
One way to focus on growth is to ask your organisation to articulate how much new growth they expect to ge...
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Consider how your innovation practices are governed
The governance system in your organisation helps projects into the portfolio. It also establishes the scope of innovations and defines what is in the scope. Ideally, it is the growth board that sets up metrics for what opportunities deserves further development.
- A good practice is for ...
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How to allocate an innovation group in the company
There are seven different types of how to locate an innovation group within the company.
- Put the innovation group inside an existing business unit.
- Create a division within a current unit specifically for innovations.
- Add it to ...
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Innovation is essential
Innovation is a discipline that can be learned and repeated. However, it is organised and operate differently from everyday business.
Many companies are aware that they need to create an innovation capability but don't know where to start. Working through five ideas can hel...
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