Vijay Govindarajan on his new book, “The Three Box Solution: A Strategy for Leading Innovation”
How can large organizations create the future when almost all their time and energy is spent competing for the present? That challenge is at the center of “The Three Box Solution,” the new book from Vijay Govindarajan, professor at Dartmouth College and visiting fellow at Harvard Business School, who has also served as chief innovation consultant to General Electric.
Innovation Leader editor Scott Kirsner spoke with Govindarajan about how future-focused teams should be set up, staffed, funded, and structured — as well as some of the advantages of acquiring innovative startups instead of developing new products and services internally. We also discussed the importance of abandoning long-held beliefs about what the customer wants, and how the business needs to operate. Among the companies Govindarajan uses as case studies in the book are Hasbro, Keurig, IBM, United Rentals, and Tata Consultancy Services.
“The Three Box” solution goes on sale later this month; in May, Govindarajan is one of the keynote speakers at the Front End of Innovation conference in Boston. Audio of the interview is below.
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Innovation Leader: Why don’t you start by describing what the Three Box model is? What’s in the three boxes?