Action recommended for building stronger innovative firms is to:
• Listen more intently to internal/external stakeholders and make use of social media to see developing patterns and trends.
• Adapt fast to opportunities and threats.
• Experiment with new approaches to your business and clients.
• Execute well on chosen projects.
Here are his suggestions for how to start getting your firm down this more innovative path:
1. Look into roles of free agents (innovation specialists) and how this can impact your organization.
2. Learn from companies carrying out innovation experiments and exploring the future of organizations. Zappos and its progressive corporate structure and workplace policies were cited as an example.
3. Rewards behaviors, not just outcomes. Start building metrics for “doing” innovation and experimentation.