Why it’s crucial to understand your company’s innovation DNA
In living things, DNA serves as the fundamental blueprint — it instructs our cells on how to develop. Similarly, I believe that companies have a central idea at their formation, which endures for decades, powering their growth. That’s the DNA of a company. And if you are working to create the right growth and innovation strategy, its important to understand that DNA composition.
Was your company born to disrupt established industries? Or is its heritage in marketing and distribution, building brands that are recognizable around the world? Maybe the way your company obtains new products is always by acquiring small startups. Every company has different DNA, which means innovation approaches need to differ — and that it can be extremely difficult to “reprogram” something that is fundamental to your company.
Here’s one way to think about analyzing your company’s innovation DNA:... continued ...