What to do to be more dynamic and adaptable

I blame Aidan McCullen for this. He featured this book on one of his podcasts. The “Corporate Explorer Fieldbook: How To Build New Ventures In Established Companies” does what it says on the tin. It is a field book for innovators and intrapreneurs. It is not dissimilar to my book about books (a summary of 24 books about innovation and transformation). However, it is more practical. The book echoes all the lessons from the 24 books.

How to

How not to fail at the moments of industry transition. What to do to be more dynamic and adaptable at these critical points? And how to execute these changes? How to tackle organisational inertia. How to create structural ambidexterity. How not to be a hostage to the past.

Strategy first

It starts with strategy. Strategy plans often fail at the most basic level. They rarely talk about the significant challenges companies face or present a point of view about how to win. You need to develop a strategic manifesto that explains the firm’s strategic ambition, the implications for the core business strategy, and the opportunity to explore beyond the core. More importantly, it is a statement that every senior team member can stand behind and explain to their teams. It is the North Star that provides an organisation with a clear answer to the “big why” question that informs all other growth and transformation efforts. The strategy manifesto also gives aspiring innovators a “license to explore.”

Components of a strategy manifesto

Context (250–300 words)

• History. Evoke pride by referencing a shared experience of success.
• Change. Recognise the shifting reality in these markets.
• Question. Formulate an implicit or explicit “troubling” question to which this document will answer. “Can we be a winner in the next generation of our markets, or is defence our only game?”
• Answer. Provide a succinct statement of the senior team’s point of view.

Challenge (500–600 words)

• Market Change. Describe shifts in customer preferences, market dynamics, and competitor activity.
• Innovation. Name the most important technologies or capabilities…