Episode #176: KPIs and Incentives to Encourage Corporate Innovation

October 3, 2018

If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared  Like us? It'd make our day if you took 1 minute to show some love on iTunes, Stitcher or Soundcloud by subscribing, sharing and giving us a 5 star rating. 

I left the corporate world years ago not only because I managed to raise funding to pursue my own startup ideabut mostly because there was little to no incentive for managers to encourage new ideas or change.

Managers were simply incentivised to deliver simply what was in their position description and more often than not, that had nothing to do with discovering new ways of doing things, much like the organisations they work for.

Change is risky after all, or so they say.

Many managers wonder why on earth they should take a risk on change when they’re sitting pretty on a six figure salary, probably have mouths to feed, are comfortable with “the way things have always been done around here” rhetoric and have no real desire to rock the boat.

But with more than 50% of today’s S&P500 facing replacement in the next 10 years alone and with one in three listed companies at risk of being de-listed in the next five years, it’s no secret that organisations need to start incentivising innovation if top-down calls from senior executives to “be bold, be innovative!” are to be heeded. This need is even more pronounced at a middle manager level which can either be the lifeblood or ring the death knell of corporate innovation.

The question often becomes one of how to incentivise innovation without compromising the core business model. After all, the core business model is where we make money today (but not necessarily tomorrow - just ask Kodak, Blockbuster, Borders, Compaq and countless others who have fallen by the wayside thanks to technology and/or business model disruption).

I delve into the key considerations in this episode of Fast Fix Friday.

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If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared 

Follow me on Instagram: @thesteveglaveski

Like us? It'd make our day if you took 1 minute to show some love on iTunes, Stitcher or Soundcloud by subscribing, sharing and giving us a 5 star rating.

To sign up to our mailing list head to www.futuresquared.xyz For more information on Collective Campus, our innovation hub, school and consultancy based in Melbourne, Australia, check out www.collectivecamp.us

To sign up to our mailing list head to www.futuresquared.xyz For more information on Collective Campus, our innovation hub, school and consultancy based in Melbourne, Australia, check out www.collectivecamp.us

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About steve glaveski

Your host and occasional cybernetic organism, Steve Glaveski, is committed to helping people better navigate the growing uncertainty that technology change brings, in order to survive, thrive, create more value for the world and lead more fulfilling lives.

Steve is the CEO and co-founder of innovation accelerator Collective Campus, founder of children's entrepreneurship program Lemonade Stand, author of Amazon best-seller The Innovation Manager's Handbook and the Wiley book, Employee to Entrepreneur, investor in blockchain based fractional property investment platform Konkrete and is a keynote speaker and startup advisor.

When not fighting T-1000s Steve can be found in the gym, hiking, skating at the beach, attempting standup comedy, at a heavy metal show or socially lubricating at a whisky bar.

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