It’s the strength of your business process versus those of your competitors
Some notes from this interview with Robert Tucker, CEO of The Innovation Resource Consulting Group in Santa Barbara, USA, something valid especially for business model innovation:
My message to CEOs is this: You’re in an innovation arms race. It’s the strength of your business process versus those of your competitors. A cost reduction strategy alone will not cut it.
[…]
(innovation is] tough to pull it off. CEOs of publicly traded companies, in the U.S. at least, have attention deficit disorder when it comes to innovation. And who can blame them? Their average tenure is a short three years. Either they drive growth and meet their quarterly numbers and get the stock price up, or they’re out. […] So I think a lot of them look at innovation as planting trees that will bear fruit – for the next guy or gal, not for them, so they’re of two minds.
You ask them, how important is innovation? In one survey, 72 percent of them said that it’s one of their top three priorities. But then the knowing-doing gap kicks in. They “know” they’ve got to get better at it. But what they “do” is often piecemeal, ad hoc, seat of the pants.
There are more gems, so go on and read the interview!
