Kensi Gounden - Tips for Corporate Innovation 2020

According to Kensi Gounden, "To achieve successful innovation, companies need to change previously established procedures, habits, and ultimately culture to be more open to innovation. In order to do this, it is essential for CEOs to not only support innovation initiatives but to also actively champion these initiatives.

Innovation used to be a way for corporates to get ahead, now innovation is just a way to keep up. According to the Three Horizon Framework of Disruptive Innovation, innovation can be broken down into three categories:

1> Incremental Innovation - companies focus on innovation on existing products for existing customers.
2> Adjacent Innovation - companies take something they currently do well and apply it to new markets or develop new products for current markets.
3> Disruptive Innovation - companies focus on creating new offerings for new markets.

In this new era, Talent has become the most important aspect of the business - including innovation success.

According to kensi Gounden, Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow.