As we begin 2010, I think it’s a great time to mention “The Silver Lining” by Scott D. Anthony. The book which bills itself as “An Innovation Playbook for Uncertain Times,” touches on some very important themes that we should all keep in the forefront of our thinking if we are to maximize the potential of the innovation opportunity that are ahead.
This is a nicely written and very readable book in which Anthony reviews key innovation concepts that are always important, but especially so as companies find themselves challenged by a difficult environment. Although some signs suggest improvements in the general business climate, we aren’t out of the woods yet, and the moves made by companies during transitional periods like this are particularly important. So, the lessons of “The Silver Lining” are even more on point now than they were six or nine months ago.
Some of the key concepts addressed by Anthony include:
Focus – Or as Anthony puts it, pruning prudently. He discussed how to identify what’s not going to be a winner and also how to identify where to invest in strategic experiments.
Using innovation to improve margin – This is a major area as companies need to continue to find ways to deliver bottom line performance in top line challenged times. The techniques of simple tuning that yield incremental saving are no longer adequate. For today’s needs, you need innovations that will drive new cost profiles.
Improving innovation productivity – Let’s face it. Most organizations have a pretty bleak track record when it comes to innovation. The generally poor state of innovation productivity is captured in the commonly cited statistic that it requires 3000 ideas to generate a single successful product launch. Companies can and should do much better than this. Anthony explores some strategies to begin moving down a path of higher innovation productivity. He also makes a case for making innovation repeatable & sustainable in the enterprise. This is essential for an organization to reach its potential.
Sharing the load – The need to open up the innovation process and integrate all of a company’s innovation constituencies into the process is presented.
Emerging markets – There is no arguing the dominance of emerging economies when we consider growth opportunities. But, products developed for established primary economies don’t align with the new math of global economics. Companies need must redefine products to fit a different economic paradigm.
My only complaint is Scott’s annoying attempt to coin the phrase “The Great Disruption” to describe the challenging business climate. It really has no relevance in the discussion and has no real tie back to the terminology of disruptive innovation, so it just leaves an unpleasant taste in your mouth.
But, that is a minor discordant note in a book that otherwise keeps true to an important melody. I highly recommend the “The Silver Lining.”
Thanks for revisiting Scott's book, Jim! You're right, it's still timely info.
Posted by: Renee Hopkins | January 07, 2010 at 06:14 PM