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The Strategic Value of Unrealistic Goals - Accounting meets Vision & Innovation

The Strategic Value of Unrealistic Goals - Accounting meets Vision & Innovation | Innovation & Institutions, Will it Blend? | Scoop.it

"'Strategic intent" lets companies make big, bold bets, regardless of resources.'"

   

The author, Vijay Govindarajan, went from professor of accounting to a new role as researcher on strategy and innovation, based on an article "Strategic Intent" by Gary Hamel and C.K. Prahalad's circa 1989.

    

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Strategic intent takes the long view - to operate from the future backward, disregarding the resource scarcity of the present.

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His point is huge for innovation to succeed:  

   

  • Strategic intent takes the long view -  to operate from the future backward, disregarding the resource scarcity of the present.
   

Excerpts:

   
There are two views on strategy. The conventional view is that the firm should assess its resources and match resources with opportunities.

   

  • If Canon had followed that advice in the early 1970s, it would have never taken on Xerox. 
   

Hamel and Prahalad have an entirely different point of view. According to them, the firm should expand its resource base to meet its ambition.

   

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...[a] firm should expand its resource base to meet its ambition

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...In accounting, we always argued that "realistic" goals are the best, since they are achievable and as such are better motivators. I've even contributed to this literature on goal setting.

   

But according to Prahalad and Hamel, firms should set unrealistic goals, not realistic goals.

    

...the more I reflected on the article, the more it made sense. Realistic goals promote incremental moves; only unrealistic goals provoke breakthrough thinking.

   

JFK's audacious goal in the early 1960s when the U.S. fell behind the Soviet Union in the technology race: "this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the Moon and returning him safely to the Earth."

   

  • JFK's intent produced many breakthrough technologies.

   

In a similar way, "Strategic Intent" inspired me to think about mountains and not molehills as I shaped my research agenda around breakthrough innovation.

   

Read the full article here:

   

From Deb, a companion article on Strategic Agility is here.   Regarding resources, note:

   

  • Resource Fluidity: the internal capability to reconfigure business systems and redeploy resources rapidly,
   
  • Collective Commitment e.g. Leadership Unity: the ability of the top team to make bold decisions –fast, without being bogged in “win-lose” politics at the top.

Via Society for College and University Planning (SCUP)
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Cohabitation, academics & industry: Midwestern colleges launch Innovation campuses, public-private collaboration

Cohabitation, academics & industry: Midwestern colleges launch Innovation campuses, public-private collaboration | Innovation & Institutions, Will it Blend? | Scoop.it

"'Innovation campuses' are springing up everywhere" especially in the Midwest.

 

...the intentional cohabitation of academics and industry is key to all of them, something university leaders say made the ambitious and expensive projects palatable to legislators and voters even as the economy and higher ed appropriations shrunk.

 

Here's sampling of what is under contruction, via Inside Higher Ed:

 

...many [are] in the Midwest and almost all involving fancy new buildings and partnerships between public colleges and private corporations.

 

Public research universities have long had ties to state industries, and technology transfer is widespread in higher education.


The new innovation campuses include:


Via Society for College and University Planning (SCUP), Deb Nystrom, REVELN
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Why Innovation Dies, Disruption, not Deans: Higher Ed's long, winding Road to Online Education, Forbes

Why Innovation Dies, Disruption, not Deans: Higher Ed's long, winding Road to Online Education, Forbes | Innovation & Institutions, Will it Blend? | Scoop.it

Here's the companion post to the previous article that features the long & winding road in dealing with online education, and confronts disruption head-on.


Author:  Steve Blank   Source:  http://www.forbes.com/sites/groupthink/2012/05/01/why-innovation-dies/2/

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Where is Your Anchor for Innovation? Be a Leader Not a Hero | Forbes

Where is Your Anchor for Innovation? Be a Leader Not a Hero | Forbes | Innovation & Institutions, Will it Blend? | Scoop.it

“Managers want authority,” says Seth Godin, author, keynoter and entrepreneur.  “Leaders take responsibility.”

 

In entrepreneurship the comparison isn’t between managers and leaders. It is between leaders and heroes.

 

In the six years that I’ve been following, studying and supporting entrepreneurs, I’ve found that none are interested in being managers. That is counterintuitive to their innate passion and impatience to innovate.

 

...depending on where that passion and impatience to innovate is anchored, entrepreneurs can either be leaders or heroes.

 

Those that chose to become leaders are confidently tied to a vision, knowing, as Godin points out, “where they’d like to go” and understanding that “they can’t get there without their tribe.”

 

Those that are heroes, however, are caught up in the ego, convinced that without them no success can be achieved.

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