Innovation speed

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Innovation speed

Questions about innovations, change and speed of business

Is Innovation Speed as a relevant topic in your business?

Yes, it is highly relevant and we have metrics in place.

Yes, it is relevant and we'd like to measure it somehow.

Innovation is essential but speed is irrelevant.

Innovation in our industry is not a competitive factor.

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How does innovation affect competitive positioning in your business? Please check all that apply.

New products and services are essential to our key customer segments.

Our competitors keep offering new products and features.

We work hard to keep up with the customer expectations.

Competitors seem to move very fast and introduce new products all the time.

New products and features generate profitable revenue.

New products tend to be loss-leaders before they become profitable.

New products and features help capture market share.

It is better to copy good ideas and scale up fast than to introduce new products as the market-maker.

Operational excellence is more profitable than product or service innovation.

Other:

How do you measure innovation and speed? Please check all that apply.

We discuss our innovations informally.

Innovation and speed comparisons are part of our competitive and market intelligence practises.

We analyze our operations and systems regularly.

We have innovation related reporting such as number of patent applications in place.

We have automated metrics that count new product and feature releases.

We have metrics that collect market perception of our company's activity.

Other:

Is innovation the same as change?

No, they are absolutely different topics. Change management is separate from innovation.

Innovation is change, and there is no way to separate the two.

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Have you seen counterproductive innovations at your company or elsewhere? By that we mean innovations that leave the innovator worse off in the market.

I have seen that in my own business

I have seen that elsewhere in my company

I have seen that at our competitors

I have noticed that in other markets

No, I have not seen counterproductive innovations at all.

Can you share examples of counterproductive innovations?

OODA - Observe, Orient, Decide, Act - in innovation context

OODA originated in US Air Force. Harvard Business Review and many others have applied that for understanding business settings as well.
We are interested in OODA and innovation and whether you see connection or similarities at all. That and corporate culture are the topic of the next five questions.
HBR on OODA: https://hbr.org/2013/09/decision-making-top-gun-style

How, if at all, are innovation and the OODA loop related to each other in your market and company?

In your experience, how would you characterize OODA and innovation?

It is a stricly an operational concept with not relevance to innovation.

OODA applies occasionally to innovation, too.

OODA is definitely an innovation concept, and operational decisions are different.

Other:

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What are the OODA loop timescales in your business?

We make changes hourly, several times a day.

It is a daily to several changes per week activity.

We adjust and make changes a few times a month.

OODA is a tactical and quarterly issue for us.

We see OODA as tool for strategic planning. Change cycle quarters, even years.

How do you see company culture, strategy and innovation?

Our company implements a well-planned innovation strategy.

Our company culture fosters innovation both bottom-up and top-down.

Our company innovates faster than competition due to the culture we have.

Our company innovates faster that competition due to our strategy.

Our company grows faster than the market because of our innovations.

Our company is more profitable than the market because of our innovations.

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