TL;DR: The Cycles of Discovery and Innovation
How you can balance discovery, innovation and standard business operations.
Welcome to TL;DR. This is where we take a post from The Technician’s MBA and summarise the key points in less than 1000 words. The main post will contain more information regarding the points we highlight, and perhaps more than we summarise here; however we want to give you a quick read that can help peak your interest for those times you where you only have a few minutes to spare.
TL;DR Details:
Words: 308
Approx. Reading Time: 2-3 minutes
Link to Post:
The Cycles of Discovery & Innovation
Time is finite. Every action you take in a business will likely come at the expense of another; focusing on delivering leaves little time for innovation, and focusing on innovation can affect your ability to deliver.
The Cycles of Discovery and Innovation highlight the importance of Standard Operating Practice (SOP), and the trade-offs required when advancing your businesses capabilities by making it both the centre and the starting point for the cycles discovery and innovation.
The cycles highlight the unpopular, and often ignored fact, that by going on journeys of discovery or innovation, you are moving away from SOP which will have an impact on your delivery ability; time and resource are finite in businesses, there’s no avoiding this fact.
Moreover, we use the name “Cycles of Discovery and Innovation” to highlight the order in which businesses should do these activities; discovery then innovation to maximise potential benefits, while minimising potential risks. The cycles also give key states and actions that should form a part of every business process to minimise risks and maximise potential. The last thing you want to do is sink time, effort, and resources into a project that won’t be adopted by the business for a reason you could have identified during the discovery process.
At the end of the day, discovery and innovation are critical activities for businesses if they want to stay at the forefront of their field or remain competitive; what made you great, won’t always keep you great.
With the “Cycles of Discovery and Innovation” we enable businesses to think about the impact of these activities on the business’ standard operating practice, whilst highlighting the order of operations is important to maximise benefits while minimise risk.
You can read more about the stages in the Cycles of Discover and Innovation in the main article.
GTFYT
If you liked this please consider subscribing, and you can find the link to the main post, where you can find more information about this topic, below.