A story as old as time The Innovators’ Dilemma. Darlene succinctly summarizes the antidote: - Prioritize research and experimentation FOR disruption. Focu on how to cannibalize the own business, not just improve it… - Be willing to pivot and adjust plans when faced with issues or changing market conditions. Don’t see the pivot as a failure. All learning is valuable… - Don't pass on investments or partnerships that could drive growth and innovation even if the ROI isn’t immediately known… Innovation isn’t a guarantee. But without it, there is. #innovatorsdilemma #corporateinnovation
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The innovators dilemma… Today's news about the AWS CEO stepping down highlights the challenge large companies face trying to stay on top… According to reports, Adam Selipsky's departure may have been influenced by AWS missing the boat on generative AI. Passing up on early investment opportunities in leading startups like Anthropic. One would think with all the money and resources at the firms disposal…how clidl they not spot this trend sooner? It’s called the innovators dilemma… As firms grow and become more established, it can be increasingly difficult to innovate as they often prioritize incremental improvements over disruptive innovations, which are seen as too risky. Ultimately missing opportunities…. Companies need to be willing to risk even at the cost of failing. They should; - Prioritize research and experimentation FOR disruption. Focus on how to cannibalize the own business, not just improve it… - Be willing to pivot and adjust plans when faced with issues or changing market conditions. Don’t see the pivot as a failure. All learning is valuable… - Don't pass on investments or partnerships that could drive growth and innovation even if the ROI isn’t immediately known… Innovation isn’t a guarantee. But without it, there is. Leadership need to be comfortable with being uncomfortable in making a decision today that “may” pan out in the future. That’s the only way one stays competitive. #innovation #leadership #aws #generativeAI #competitiveness #growthmindset
Darlene Newman
2mo
Thanks for the repost!
All things Data...
2moI like this.. particularly the “cannibalise the business”.. hard to appreciate but staying sharp is the face of changing conditions should absolutely focus on more than just improving/transforming the business.. Classic in the space of systems/platforms where a lot of energy goes into “modernising” which is still focussed on the “solving the problem” instead of “eliminating the problem”…