The other day, one of my colleagues asked me, "What exactly do you mean when you use the word 'innovation?'" Answering the question led to a productive discussion about what really inhibits innovation inside large organizations. When I use the word innovation, I think of three interlocking components.
Tag: business plan
Some small businesses start without a business plan, finding success in a breakthrough product or service early on and building upon that success organically. However, it’s inevitable that the venture will need to have a structured business plan put in place at some point if the business is expected to scale, expand and ultimately thrive. This well understood concept is the basis for what I’m informally labeling “social business planning”, yet from my experiences working across multiple organizations, the current focus remains on social media programs (the external) without putting in the appropriate social business infrastructure (the internal).
In business and in life we set all kinds of goals — build a company, meet sales objectives, be a supportive manager — and then we define a strategy for achieving that goal. The goal is the destination; the strategy is our trail to get there. Only sometimes we get so absorbed in the trail — in how we're going to achieve the goal, in our method or process — that we lose sight of the destination, of where we were going in the first place. And we walk right by the opportunities that would have propelled us forward toward our planned destination.