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Standing on the shoulder of the Giant for Innovation
While threading along the VUCA terrain, many companies faced a shorten Sigmoid curve, famously known as the “S” curve, which forced many traditional companies went out of business. Entering into Industry 4.0 today, where businesses are disrupted by technologies such as artificial intelligence, machine learning, blockchain, robotics, autonomous tech, 3D printing, etc., the “S” curve is expeditiously shorten. Hence, what can companies do? To jump the curve, they must have an effective framework to help them innovate radically.
This article is about managing innovation, and not innovation itself. The research and study of “how great companies manage innovation” that I have recently undertaken, commendably triggered a paradigm shift in how innovation can be better managed. From the learning of the giant, I’ve further designed a tailored innovation management framework (a.k.a. The Innovation Funnel), which is illustrated in the below diagram aims to aid companies in radical innovation, possibly navigating smoothly along the treacherous route of VUCA.
