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Imagine this: you’re on a game show standing in front of three doors. Behind one of the doors is a prize, behind the other two, goats. You select a door. The host then opens one of the remaining doors to reveal a goat, and offers you a choice. Do you want to stick with your original choice, or switch doors? Which option gives you a greater advantage of winning? This is the Monty Hall problem, made famous by the American TV show ‘Let’s Make A Deal’. On the basis of probability, you’re more likely to win the prize if you switch doors. But most people actually prefer to stick with their original choice. For Felix Hofmann, author of REFRAME - The Psychology of Innovation - this highlights a fundamental aspect of human psychology, which is really important when working in innovation. In his recent Innov8rs Learning Labs session on how to increase courage and risk-taking in large organizations, he explained why. https://lnkd.in/efETQFA2 #innovation #psychology #risk #opportunity

We're excited for the Q4-series of Learning Labs to start next week Tuesday.... As always, we'll dive into the best and latest in corporate innovation in 8 topical workshops. Fore more info and to apply to join, check https://lnkd.in/dGrYPjky Now... here's what we'll cover in the first workshop on "Strategy, Leadership & Organization". #innovationleadership #corporateinnovation #innovationstrategy #innovationmanagement 📅 Tuesday 22 Oct - Strategy, Leadership & Organization In today’s business, driven by AI, digitalization, and emerging technologies, companies must embrace a new paradigm. Instead of rigid structures, businesses are transforming into dynamic, elastic flows, where products turn into personalized, data-driven services, and processes continuously adapt based on vast data ecosystems. The intangible—ideas, emotions, social interactions, and digital experiences—are now more valuable than the physical assets. However, many traditional strategies overlook these critical intangible assets. In this keynote, Miikka Leinonen, author of Your Business Strategy for the Intangible Future, will guide you through the new lexicon of strategy for this era. Innovation is a collaborative activity. No one person or group can succeed alone in creating an innovation. And if corporate innovators want to have a repeatable innovation process, then it is critical for them to build alliances with colleagues from other key functions in the organization. In the second session of this Learning Lab, Tendayi Viki will discuss practical tools and tips on how innovators can build the right relationships to support their innovation work. Relationship advice for innovators... who doesn't want that?

Uncertain economic circumstances more often than not lead to difficult conversations. As businesses enter leaner times, all areas of a business face greater scrutiny - the pressure to provide return on investment, or at the very least demonstrate a contribution to organizational goals. As Matt LeMay, product leader and author of Product Management in Practice, noted during a recent Innov8rs Learning Lab, the conversations happening now are long overdue in the product world. With organizations asking why product teams are important, and what to expect from them, how can product teams respond? https://lnkd.in/eriuKUsK

For some interesting bites during your lunch today, here's the shortened version of this week's [i8upd8] newsletter > 〰 Innovation methodologies have always failed to address the human side of corporate innovation. Find a way to work well with people outside the innovation department, and you crack the code to successful innovation says Tendayi Viki https://lnkd.in/eCrX5QsM 〰 Venture building is a tried and tested method for organizations to discover, validate, and incubate new business models. Scaling typically proves much more of a headache. Here's Kilian Veer sharing how to standardize the scaling process too https://lnkd.in/e7GvQ2Fx 〰 Pursuing innovation - taking action to explore the new and unknown - is generally perceived as a risk. If this risk becomes too high, then managers tend to revert to the norm, to the core business, to inaction. And innovation becomes impossible... unless reframed, says Felix Hofmann https://lnkd.in/efETQFA2 🔅 How can leaders make sure workers are able to balance operational necessities with innovation? https://lnkd.in/dY_zJWpm 🔅 Without a clear methodology to guide the venture creation process, efforts can quickly become disjointed, resources can be wasted on unviable ideas, and the inherent risks can become unmanageable https://lnkd.in/eTmZrkEU 🔅 Here's Michael Todd exploring six barriers to innovate effectively to avoid and providing insights on how Henkel and Henkel Adhesive Technologies cultivate a thriving customer-centric innovation culture https://lnkd.in/eXFrNqcg 🔅 What should an innovation department actually achieve? Martin Pattera and Lisa Kuttner in conv https://lnkd.in/d4X6vVsg 🔅 There's a new era of innovation, where humans and AI work in tandem https://lnkd.in/ghmaWHDR 🔅 In today's fiercely competitive marketplace, customers and shareholders expect a pipeline of innovation, no matter an organization's size, industry, or geography. However, the role of a Chief Innovation Officer is not without its challenges, which are numerous and complex, says Phil McKinney https://lnkd.in/emp-buuh Enjoy 🙃

Only 1 of 30 innovation initiatives succeed in creating a new $50m business. Most companies have not yet found an effective approach to win the NOW while at the same time creating NEW. In Frank Mattes’ recent book he proposes how to set up an effective NOW/NEW interface to close the gap. In an upcoming Innov8rs Community Club on October 2nd, Frank will summarize the key concepts and insights from the book in conversation with Tania Aydenian (Roche), Hitesh Mittal (GEA), Bob Gravestijn (ABN AMRO) and Claus von Riegen (SAP). Afterwards, you're invited to go deeper and reflect on individual experiences - what works and what doesn't, when it comes to the NOW/NEW interface. Normally, these sessions are for members of Innov8rs Community only. But this one is open for any corporate innovation professional. RSVP via the link in the comments. #innovationmanagement #corporateinnovation #bookclub #nownew

Like most forms of innovation activity right now, corporate venture building is going through a reckoning. As economic conditions become more challenging, interest rates rise, and the cost of funds goes up, the willingness of organizations to invest in ventures is stalling. For Sebastian Mueller, COO at MING Labs, this isn’t such a bad thing, if these tougher conditions encourage venture builders to make some fundamental changes to the way they operate. As belts tighten, and organizations question the value they’ve received from investments in the past - what can venture builders do to provide a greater chance of delivering meaningful returns? https://lnkd.in/exUBjQe4 #venturebuilding #corporateinnovation #innovationmanagement

📥 ... did you find [i8upd8] in your inbox yesterday? As always, we shared 8 updates about corporate innovation. Well, 8 plus 1 this time ;) 〰 Can Innovation Speak The Language Of Finance? How can innovators bridge the gap between innovation and finance? Here's Tristan, Dan and David sharing how to navigate the inherent uncertainty of their work to gain leadership support and secure budget https://lnkd.in/epDiJGzw 〰 Venturing Beyond The Hype - How To Build Viable Ventures In A Down Market Corporate venture building is going through a reckoning. As interest rates rise and the cost of funds goes up, the willingness of organizations to invest in ventures is stalling. Not a bad thing, if these encourage venture builders to make fundamental changes to the way they operate says Sebastian https://lnkd.in/exUBjQe4 〰 The One Thing High Impact Product Teams Have In Common With organizations asking why product teams are important and what to expect from them, here's Matt suggesting how can product teams demonstrate a contribution to organizational goals https://lnkd.in/eriuKUsK 🔅 Instead of polarized approach with incremental R&D on the one endand high-risk CVC at the other, a better, middle way is the "growth driver model" that partners corporations with outside investors https://lnkd.in/gcntQtKe 🔅 In this podcast, hear from Mann+Hummel’s Charles Vaillant and Ellie Amirnasr, re the pitfalls of applying traditional KPIs too early in new business ventures and advocating for non-financial progress metrics https://lnkd.in/eQP4hiAy 🔅 Chief Innovation Officers tend to find themselves stuck in a role riddled with contradictions, limited authority, and near-impossible expectations. Here's Stephen Parkins examining why the role is so difficult https://lnkd.in/ePii4SjQ 🔅 The Responsible Research and Innovation (RRI) framework by Gina O'Connor / Tania Bucic helps innovators decide when to proceed and when to hold back on releasing a new technology into the world https://lnkd.in/eM-GQ59j 🔅 Everyone knows you can’t build a startup without proper validation. But validation is not the best word to describe what you really need to do and which results you can expect from it https://lnkd.in/eHATvMP8 🔅 Famous brands that have either disappeared into history share three commonalities. It's about bad execution, not about a lack of insight https://lnkd.in/etQJ_2RV

Time flies when... we're already getting to the final week of our Q3-Learning Labs. It's not too late to join the remainder of the sessions live (and check recordings of the previous ones). Next week, we'll talk about the people side of innovation. 📅 Tuesday 17 Sept - Culture & Capabilities Learn about the award-winning 6-month Konica Minolta intrapreneurship programme, or the Transformation Innovation Programme (TIP) from Delphine Hertel and Milan S. Lakhani. This annual initiative is a unique opportunity foremployees to join diverse, cross-functional, and global teams tackling exciting business challenges. Over the past decade, this programme has delivered impactful results, supporting Konica Minolta’s vision and growth. Bea Schofield FRSA, Innovation Lead at Lloyds Banking Group and Advisor on "Challenge Driven Innovation" will be talking you through how you can best leverage the collective intelligence of people inside and outside your organisation using CDI principles. CDI, a method use by public, private and third sector companies alike results has an 80% success rate and remains one of the premier approaches to crowdsourced innovation. 📅 Wednesday 18 Sept - Talent & Teams The AI solution landscape is expanding at an unprecedented rate, making it difficult to distinguish flashy tech from true state-of-the-art solutions. Pilot44's Mary Lague will cover how the "AI Innovation Stack" is evolving, from always-on insights and real-time opportunity strategy, to rapid concept validation and market-ready solution development. Don't miss the roundup of the top 10 tools innovation teams need to know, and practical tips to navigate the AI landscape over the next 12-18 months. Innovation is a team sport. It requires co-creation, collaboration, and cross functional cooperation. If your R&D, finance, sales, IT, and marketing don’t work together, you’re sunk. But how do you make teams work? And how can you make good teams with the people you have? FourSight's Sarah Thurber tackle this challenge from a cognitive perspective and explore proven practices to help teams think creatively, work collaboratively, and deliver extraordinary results by tapping the cognitive diversity within and between teams. 👉 For more info, and to join go to innov8rs.co / learning-labs #innovationmanagement #corporateinnovation #innovationculture #innovationteam

Some interesting conversations so far during the Q3-series of our Learning Labs. It's not too late to join the remainder of the sessions live. Like these ones coming up next week... 📅 Tuesday 10 Sept - Open Innovation In the last century or two, science has lived in two main homes: the academy and the corporation. But what if your idea is too translational or complex for the academy? What if your idea does not align with commercial timelines or objectives? In the last few years, we’ve seen a variety of models designed specifically to fund and make a home for research previously seen as unsuited for either the academy or the corporation. This work stands to open new frontiers in science, accelerate commercialization and make compelling scientific solutions available to many more people, as Lara Mangravite, Will Richardson, Jun Axup, Amanda Cashin, PhD and Diana Joseph will reveal in the first session in this workshop. "Venture Clienting" recently made it to the prestigious "Peak of Inflated Expectations" on the 2024 Gartner Hype Cycle. Despite the buzz, many innovation professionals are puzzled. Is "Venture Clienting" just the good old corporate-startup collaboration rebranded, or is it fundamentally different (and better)? In the second session, we'll hear from seasoned open innovation experts Christoph Baier, Steffen Knodt & Lars Roessler, demystifying the approach, suggesting when and how to use it (and when/how not), and exploring how different (and better) it is or could be, compared to other approaches. It's a fishbowl conversation- that means that anyone with relevant experiences can also join the panel, all to bring even more perspectives to the mix. 📅 Wednesday 11 Sept - Climate/SDG Developing concrete decarbonization roadmaps is a strategic imperative for any business that aims to stay competitive over the coming years and thrive in (an) uncertain future(s). Few topics are as complex, uncertain, and urgent—the pressure is building to not only set goals, but actually reach them. Strategic foresight methodology, with its trend analysis, scenario-building, and back-casting, is a valuable way to move from insights to concrete action. In this session Elvin Ibishli will explore the Rohrbeck Heger - Strategic Foresight + Innovation by Creative Dock decarbonization scenarios for 2030 and leverage theirr proven foresight-driven innovation methodology to tackle this critical topic. 👉 For more info, and to join go to innov8rs . co / learning-labs

AI is the buzzword of the moment when it comes to improving workplace productivity. The latest generative AI models can help organizations to improve their creativity levels, increase the speed at which they’re able to deliver results, and secure cost efficiencies. But what does this look like in an innovation context? How is AI being used by corporate innovators right now, and what are some of the ways they might use it in future? For a recent Innov8rs Learning Labs session, Rachel Gordon hosted a conversation with Jan Beránek, Stefan Raß and Christian Mühlroth to cut through the hype and share their perspectives on this transformative technology > https://lnkd.in/eVBJDv3Z #AI #corporateinnovation #innovationmanagement