| |
Managerial Challenges
>>> |
Competencies Required
>>> |
|
1 |
Generating radical ideas and capturing them in
the “fuzzy
front end”
>>> |
Generation of
good ideas
>>>
Recognition of
opportunities enabled by breakthroughs
>>>
Development and
implementation of an
effective approach to initial evaluation
Practicing
loose-tight leadership
to manage radical idea generation and selection |
|
2 |
Engaging individual initiative and
energy;
managing expectations |
Ability to
effectively define the roles of senior management, key individuals,
and project team
Engaging and
inspiring everyone
Building of
appropriate “rewards
for the soul and
for the wallet” and career paths
Promotion of
informal networks and
cross-pollination of ideas. |
|
3 |
Managing
radical innovation projects
>>> |
Articulation of
an inspiring
vision
Uncertainty-mapping capability
Development of
and ability to follow a learning plan
Recruitment of
champions
Effective
management of organizational interfaces
Willingness and
ability to switch
from traditional rigid
project management approach to flexible experimental one. |
|
4 |
Learning about markets for
radical innovation |
Willingness to
conduct marketing research in new ways through early
prototyping,
experimentation and adaptation
Commitment to
asking different market research questions about the
value created by the radical innovation to prospective customers
Creating a market niche for a
radically new product
>>> |
|
5 |
Resolving uncertainty in the
business model |
Understanding of
what
core activities the firm should do itself and what non-core
activities it should
outsource
Understanding of
what new competencies the firm should develop
>>>
Adaptation of
the business model in response to continuous learning. |
|
6 |
Bridging resource and competency gaps |
Resource
acquisition
>>>
Establishment
and management of internal and external
partnerships |
|
7 |
Accelerating the transition from
radical innovation projects to operating status |
Accurate
assessment of the transition readiness of the project and the
receiving unit
Development of
people, practices, and structures for successful transitions
Ability to build
bridges between organizational units |
