Every company needs to grow, and innovation is one of the keys to sustainable and profitable growth.
What decisions can we take to increase the probability of successfully building innovation-driven growth businesses?
Many are convinced that it is impossible to predict with confidence whether an innovation will succeed, so they feel they need to place a number of bets -- with the hope that some will be winners.
Professor Clayton M. Christensen of the Harvard Business School has another way: He suggests using theory.
Wait....before you nod off thinking this is one of those ivory tower academic discussions, let me offer this definition of "Theory": A theory is a statement of what causes what and why. Whether team leaders know it or not, they are voracious consumers = and executers - of theory. Every action a team leader takes, every plan a team leader makes, is based on some belief of cause and effect.
Listen to Professor Christensen's podcast here where he explains how to use theory in addressing the innovation challenge.