Innovation is the art of creating a new – and better way - of doing things. Easy to say, harder to do.
Innovation is arguably now the one differentiator between organisations that grow and thrive, and those that succumb to disruption and competition. As Peter Drucker famously said:
“The enterprise that does not innovate, inevitably ages and declines. And in a period of rapid change as in the present, the rate of decline will be fast”.
But whether you are a fast growing mid-sized business, or a large complex organisation, finding your own distinctive way to innovate, and integrating that into your existing culture, takes knowledge, time and commitment.
At Grant Thornton New Zealand, we have designed a range of service offerings specifically to help our clients learn the art of innovation, and integrate some critical methods into their business model.
Our services have been built from insights about what our clients need the most, and we have specifically tailored them to help both privately held businesses who are in growth mode, and to protect complex established corporates and government from disruption.
In response to a growing gap in the marketplace for capability in innovation, we have developed a five step approach to help New Zealand businesses build an innovation culture.
1 Changing direction
Innovation starts with a decision to change your business strategy. Whether it’s due to disruption, acquisition or simply increased confidence, revisiting your strategy and taking a new direction is often critical. We can help you decide if it’s the right time and how to build a strategy to last, through helping with a strategy review and a workshop to re-build your direction
2 Aligning purpose
Ensuring that your executive team, board, your brand and your culture are all aligned around a guiding purpose is critical. Why do customers choose you? What is your reason for being in business? We can help you re-visit or strengthen your purpose, with a tailored purpose workshop.
3 Generating insights and ideas
Generating ideas is crucial to innovation. But ideas don’t come from within the building. We can help you to generate breakthrough ideas by coaching you in how to listen to customers (it’s called having empathy), and pushing your creative boundaries with our ideation workshop. We can create a bespoke solution for your organisation focused on where you most need to build capability.
From understanding, comes ideas. We can help you to use the insights you have gathered about your customers and marketplace to create breakthrough ideas for new directions. We do this by unlocking the creativity that already exists within your organisation, and you leave with some clear new directions to pursue.
4 Stress-testing and selecting initiatives
Choosing between two seemingly valid new directions can be a difficult decision for CEOs and Boards. This could include decisions to kill existing businesses or services that lack profitability, ideas to re-design existing services, acquisitions, or develop truly new, breakthrough ideas. When it comes to innovation, there are little precedents to rely on. We can help you make the right investment decision through our IGNITE #1 workshop. We will stress-test your ideas and give you the confidence to scale them or fail them fast.
With a bespoke ‘design lens’ we have built combining design and business thinking, we will help you get confident about the choices you are making as a business to forge into new and seemingly risky future territories.
5 Designing your execution plan
Execution is everything when it comes to innovation. Aligning your resources and capabilities to execute your idea fast, is a process worth investing in. We can help you hone your go-to-market approach with our unique IGNITE #2 workshop. Designed using the globally leading UK Design Council Double Diamond approach as a framework, we will coach you through how to design your execution approach, and leave you with a clear road-map for how to execute.
You and your team will learn how to integrate human centred design techniques into your production process, the art and skill of prototyping, and how to de-risk your approach – clearly mapping the cost, time and resources you will need to succeed.
In addition to our core offerings, we are also able to tailor our methods, skills and approaches to suit your organisational capability. All companies are good at some aspects of innovation – it’s a matter of building on the capability you have, and augmenting those skills with best-practice global methods, to enable you to be innovation-ready.
Head of Design & InnovationView profile