Cambian Solutions

So many legendary growth businesses have emerged successfully within companies that nurtured them in their early days. One of the questions that comes up today is how to decide which new initiatives to focus on and invest in. While different criteria can work, this is not a new challenge... and in fact we can learn a lot from people who literally have decades of relevant experience. I was recently reading a book called "The Weather Channel: The Improbable Rise of a Media Phenomenon" by Frank Batten with Jeffrey Cruikshank. In it are the following four time-tested standards that Batten used when considering new ventures for parent company Landmark Communications, which backed the creation of The Weather Channel: 1. Do we expect to get a better long-term return than with other opportunities we have? 2. Are the risks tolerable? 3. Do we understand the business, and have access to the talent to manage it successfully? 4. Can we be proud of the business? Batten goes on to say that "Our record has been consistent. Every time we've met all four of these standards, we've succeeded. And every time we've failed to meet even one of these standards, we've failed." These standards and insights can benefit many of us today, as we look at ways to grow, adapt and excel at meeting customer needs within already established and vibrant organizations. #Innovation #Leadership #TheInsideInnovator The Weather Company Dominion Enterprises

In recent conversations, lots of people have been commenting about the gap between innovation as a strategic priority vs. actual delivery. Here's a new report from Boston Consulting Group (BCG) that quantifies some aspects of this situation, while also identifying ways to close the gap and including several case studies. Among other things, the report indicates that this "2024 research finds 83% of companies seeing innovation as a top-three priority, but only 3% ready to translate their priorities to results." It highlights in particular the importance of alignment between core business strategy and innovation strategy to increase success. The case studies are in the pharma, automotive tech, and chip sectors. Well worth a read, with great insights for leaders who are serious about innovation. https://lnkd.in/eZ6FEzMB? #Innovation #Strategy #Intrapreneurship