First Round Deadline
Final Round Deadline
In the creative economy, innovation is more important than ever. Innovation is the only insurance against irrelevance. It’s the only antidote to margin-crushing competition, the only hope for out-performing a dismal economy, and the only way to truly amaze your customers. Innovation—in operations, products, business models and ecosystems—isn’t merely a competitive advantage, it’s the competitive advantage.
We all get it: innovation is the lifeblood of every organization. Yet more often than not, when innovation occurs, it’s a “happy accident” rather than the product of a deep-rooted innovation competence. Fact is, most companies aren’t very good at game-changing innovation. That’s why it’s usually the newcomers, rather than the incumbents, who upend industry rules (think of Apple in music, Amazon in web services, or Salesforce in enterprise software). Too many companies are still approaching the innovation challenge in a piecemeal fashion—a web-based suggestions box here, an awards program there, and a corporate incubator over there, somewhere.
As human beings, we are born with a creative impulse—with an innate desire to use our imagination to better the world around us. Yet too often, our organizations end up being less innovative than the people within them. Working together, we can change this.
With the Innovating Innovation Challenge, we’re looking for examples and ideas that will help us how build innovation into the woof and warp of our organizations. While there aren’t many businesses that have yet made innovation a true core competence, we can, with your help, build a composite picture of how every element of a company’s management model can be retooled to make it innovation-friendly. While no one organization has put all the pieces of the innovation puzzle together, we should be able to assemble all of the pieces in one place—via this M-Prize challenge. In doing so, we’ll give managers around the world the chance to identify the missing pieces in their own innovation programs, and to learn from companies that may have found a piece they’re still looking for.
So . . . over to you! What are you doing to make innovation an everyday, everywhere capability in your organization?
WHAT ARE YOU DOING TO. . .
|create “stretch” goals that encourage break-out thinking?||leverage new social technologies to bring the best ideas to the fore?||accelerate the innovation process through rapid prototyping, simulation, and other means?|
|upgrade the innovation skillsof every individual?||make experimental capitalrapidly and easily available to anyone with a bright idea?||de-risk innovation through low-cost experimentation, partnering, and other strategies?|
|deploy innovation toolsthroughout the organization?||carve out space for innovationin the midst of all the “busyness” that chokes out the time for innovation?||organically grow “communities of passion” around new and promising ideas?|
|develop clear definitions andmetrics for innovation?||create widespread accountability for innovation?||knock down bureaucratic hurdles that frustrate innovation?|
|make innovation an important component in compensation and reward decisions?||involve customers deeply in the innovation process?||better manage the tension between short-term operational goals and medium-term innovation goals?|
|build a foundation of distinctwidely shared innovation insights that is accessible by all?||dramatically improve the quality and quantity of innovative ideas?||ensure innovation efforts take full advantage the organization'sdiversity of experiences, skills, and values?|
And if there’s something else your company is doing to strengthen its innovation DNA, we’d like to hear about that, too!
Submit a Hack (a disruptive idea, radical fix, or experimental design) or a Story (a real-world case study of a single practice, an initiative, or a broad-based transformation) on the subject of making innovation a systemic and enduring capability--in short, embedding innovation deep into the company's management DNA.
Participation is open to any registered member of the MIX. Join here.
MIXers may (and are encouraged to) team up to co-author submissions.
Submissions may draw on secondary source materials but should be based primarily on first-hand experience or an original idea. In every case, be sure to credit all those who contributed to your story or hack and provide citations to external reference material.
The Innovating Innovation Challenge will unfold in two stages: a preliminary submission phase ending December 31, 2012, and a final round for the finalist teams ending January 27, 2013.
All entries will be judged by our panel of leading management thinkers and progressive practitioners, including:
- Scott Anthony - Managing Director, Innosight Asia-Pacific; author, The Little Black Book of Innovation
- Tim Brown - CEO and President, IDEO
- Henry Chesbrough - Professor, UC Berkely; author, Open Innovation
- Jeff DeGraff - Professor, University of Michigan; author, Innovation You
- Gilberto Garcia - Chief Innovation Officer, CEMEX
- Gary Hamel - Co-founder of the MIX
- John Kao - Chairman of the Institute for Large Scale Innovation; author, Innovation Nation
- Jim Stikeleather - Chief Innovation Officer, Dell Services
Winners will receive significant recognition as management innovators on the MIX, Harvard Business Review and HBR.org, the McKinsey Quarterly and McKinseyQuarterly.com. Winners will also earn the chance to appear at future live events hosted by the MIX and its partners.