It is predicted, that 40% of the fortune 500 companies will be gone or dramatically changed in 10 years, so innovation and continuous adaption to the market matters. We’ve seen the decline of many companies. Nokia, Blockbuster, and Kodak are the classical ones. Lately in Denmark we have seen Top-Toy/Fætter BR take the same path.
Innovation can be divided into two groups, explained as an optimizing innovation (solving existing, well-known problems in new ways) or disrupting innovation (solving problems that are unknown or only vaguely understood). It may occur in your daily life, or it may be as part of your strategy.
Innovation Matrix is a model that helps you map and understand how innovation in your organization takes place. The model is co-created with Maz Spork and Søren Skov.
The model describes the four areas of innovation, and each one of them has a different leadership style.
It has a two-dimensional spectrum of innovation; 1. strategic or everyday and 2. radical or improve.