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Your boss calls and asks you to prepare an Innovation Strategy to revitalize your business.
You now have to organise the meeting.
As expected the team does not understand the purpose of the exercise and argue that they are already market leader with differentiated products sold at differentiated prices for special applications. Fred – who arrives late – comes in saying, "apologies but I have just been with our major customer and had to cut price to below the competition or we would lose all our sales."
The meeting is a disaster. Everyone speaks at the same time, R&D argue incessantly over minute details, people spend time on their Blackberrys and Fred takes over a smaller group who have a completely different approach. At the end of a very frustrating day you have reached agreement on your strategic intentions: "We are market leader and intend to remain so."
You are positive by nature and acknowledge the power of this statement, recognizing that with such clear vision your business will go far.
You now have to bring the same group together for the second time, but from experience know how difficult this will be.
As expected the team does not understand the purpose of the exercise and argue that they are already market leader with differentiated products sold at differentiated prices for special applications. Fred – who arrives late – comes in saying, "apologies but I have just been with our major customer and had to cut price to below the competition or we would lose all our sales."
The meeting is a disaster. Everyone speaks at the same time, R&D argue incessantly over minute details, people spend time on their Blackberrys and Fred takes over a smaller group who have a completely different approach. At the end of a very frustrating day you have reached agreement on your strategic intentions: "We are market leader and intend to remain so."
You are positive by nature and acknowledge the power of this statement, recognizing that with such clear vision your business will go far.
Three months later your boss calls you in, shuts the door and asks: "So where are we with the innovation strategy...?"