How to Innovate and ExecuteLeaders already know that innovation calls for a different set of activities, skills, methods, metrics, mind-sets, and leadership approaches. And it is well understood that creating a new business and optimizing an already existing one are two fundamentally different management challenges. The real problem for leaders is doing both, simultaneously. How do you meet the performance requirements of the existing business one that is still thriving while dramatically reinventing it? How do you envision a change in your current business model before a crisis forces you to abandon it?Innovation guru Vijay Govindarajan expands the leader s innovation tool kit with a simple and proven method for allocating the organization s energy, time, and resources in balanced measure across what he calls the three boxes :
Box 1: The present Manage the core business at peak profitability
Box 2: The past Abandon ideas, practices, and attitudes that could inhibit innovation Box 3: The future Convert breakthrough ideas into new products and businessesThe three-box framework makes leading innovation easier because it gives leaders a simple vocabulary and set of tools for.
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