-: Tech-enabled markets
offer tremendous growth opportunities.
To capitalize on them,
it's crucial to establish a strong culture of innovation.
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Companies that get it right
see 70% of their total shareholder return,
resulting from innovation-driven growth.
Here are three ways future built companies
foster an innovation-driven culture.
First, balance an entrepreneurial spirit
with a venture capitalist perspective.
Unlock the entrepreneur's creative drive and inspiration,
but maintain the sharp portfolio approach
that an investor would take.
Capturing the best of both is a constantly evolving job.
Second, a strong innovation plan
begins with your enterprise strategy.
Translate it into what you need from innovation.
Articulate the resource requirements,
time to deliver,
and expected portfolio returns
in your long range plan.
Most important,
measure all of these at a domain level.
Each innovation domain
will have different dynamics
of risk, reward, and investment requirements.
Third, learn and adapt as you go.
Risk, delivery time, and expected returns may change.
To handle it all
you need a dynamic portfolio management
and governance system.
Assess those learnings on a regular basis,
and reallocate to where your talent is
and where your dollars and expectations are.
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