[Video Transcript] Innovation Strategy: How Leaders Create the Future at Tuck Executive Education
Let me highlight what is the major objective behind this innovation acceleration program. One way I can frame why this is such an important investment that you're making is, strategy is not about celebrating the past. It's not about celebrating the present. It's all about leadership in the future. And if the strategy is about leadership in the future, one thing we know, every industry changes in the future. Therefore, if you want to be a leader in the future, you have to adapt to change. And another word for adapting to change is innovation.
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Therefore, I say, strategy equals innovation. And having worked with lots and lots of companies and lots and lots of executives, I have found is, companies and executives struggle with innovation. If that is the whole foundation for strategy, we need to find a better way to accelerate our progress on innovation projects. That is what this program is all about.
We have actually structured this program around four modules. Module one will introduce this notion of why strategy is innovation. Why is this concept so important? And also highlight why innovation is so hard, and also talks about what might be the pathway to success. In module two, we are going to introduce two important concepts: strategic intent and core competencies, which are building blocks. Then in module three, they're going to focus on ideation. How do you generate these breakthrough innovation ideas? Where do they come from? What is the process we can use to really identify these breakthrough ideas? Then, module four will focus on execution. It's one thing to think of a breakthrough idea. How do you make it into a fully scaled-up, highly successful business? What is the execution journey going to look like?
In this entire program, we will operate at three levels. Level one is, what is the concept and why is this concept so important? Level two is, how have other world-class companies used this concept to drive performance? So in level one, we may talk about core competence as a concept, and in level two, we will say, how have other companies used core competencies to drive world-class performance? Then level three is, how does it apply to you? After all, in this program, we not only want to give education so that you build a common language, but we are also very, very interested in impact, and the impact will come only if you take level three seriously.
We are so excited about this program because we believe innovation is the number one reason a company either succeeds or fails. And this program is about identifying barriers that are preventing you from reaching your full potential in innovation and then accelerating your progress. All the best.
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