Part 2 of 2 of our look at Innovation with in Consumer Goods companies.
By: Dewan Simon GPS Consultant
You’re a talented executive on a fast road that wraps the mountain of your Innovation Initiative, and you’re out of range for your smartphone’s directions. You’re pretty sure there’s a turnoff coming soon, and you need to know the name of the road. You’ll have to consult a paper map.
Problem: driving the car on a road like this—without a shoulder, one blind curve after another—requires your full attention.
It’s a good thing you have a GPS consultant riding shotgun for this leg of the trip. He knows the way, knows the road, and he knows the map. In that situation, to get to his destination successfully, an executive must do two jobs at the same time. The same is true for new innovation opportunities.
New Innovation opportunities require a separate support structure for managing high impact projects.
Expedited success requires a separate supporting organizational structure with specific roles and responsibilities to support non-core business:
- Executive Leadership
- Deployment Leaders
- Project Champions
- Functional Experts
- Project Leaders
- Project Sponsors
- Functional Experts
- Primary Team Members
This might seem apparent, but most companies fail to spend any considerable time or effort creating new roles, common metrics, rewards, recognition, or appropriate organizational structures in order to better align their organizations.
If the Innovation Initiative requires exceptions to the core business growth plan, you must be ready to reciprocate with exceptions to the core business behavior. Consumer goods executives are realizing, form must follow function, and different business structures make sense for initiatives that are different from the core operations.
This is why executives are reaching outside their organization for help in planning and building their Innovation Path Forward.
Leading the Charge: What does this type of Innovation take?
Of course senior leaders and high-level managers are ready and capable to lead the charge and grow their organization. They do this best when they’re provided the right information, at the right time for their core businesses.
But are they getting that with your initiatives? Is your organization providing senior leaders and high-level managers with the information they need at the right time to make the most important decisions? To define and execute these Innovation Growth Strategies with excellence?
GPS is uniquely positioned to be your “strategic partner,” with consultants who offer experience, assembled best practices of key metrics and proven financial impact for past clients.
Senior executives see the need for growth and often recognize the wide range of growth options available; however, they now realize they don’t have the internal skills or experience needed to execute the big bets—the non-core, the true innovation projects—effectively.
New market innovation creation that doesn’t cannibalize existing market products requires an unbiased-hard approach when making important decisions.
- What is uniquely different from core process here? What is unique about the company? Its challenges?
- What should be launched?
- What will have viable financial success that will open new markets?
GPS is helping clients in this situation by taking a proactive, strategic approach to driving the innovation growth initiative designed to address each client’s unique needs.
GPS serves as the catalyst to help its clients achieve their Innovation growth goals. GPS, as a provider, has successfully executed Innovative Initiatives for high-growth companies across multiple industries — working closely with executives, finance, R&D , department heads and operational personnel to lead the charge by helping sort and prioritize relevant data and processes. These can be enacted to achieve sustained growth.
Now, we’re getting somewhere.