Leaders must answer eight key questions to address the hidden tensions underlying innovation strategies.
Why do most corporate innovation efforts fail to pay off, with 3 out of 4 new product releases failing to gain traction in the marketplace? Christopher Bingham and Rory McDonald argue that leaders are using dated methods to manage the innovation process — and failing to skillfully adapt to today’s dynamic environments.
In their new book, Productive Tensions: How Every Leader Can Tackle Innovation’s Toughest Trade-Offs (MIT Press), Bingham and McDonald illuminate the competing aims inherent in innovation, such as whether to pursue efficiency or flexibility, consistency or change, or product or purpose. They suggest that these conflicts, when navigated well, can provide as much opportunity as challenge.
In this webinar, you will learn:
- The eight critical tensions that innovation leaders will encounter and must master in order to succeed.
- How to capture new growth opportunities most effectively by balancing disciplined focus with flexibility in selection and execution.
- Why to seek data to guide decision-making — and when you should ignore it.
- Where differentiation matters to customers, and when borrowing ideas from competitors is the better strategy.
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RUBEN MACIAS