Digital (R)evolution

Chapter 3Idea Incubation

Executive Summary: In this chapter, we look at the granular details of an incubation process and outline the steps of a practical framework for innovation in the modern enterprise.

It is natural for high-performing organizations to focus on operational excellence. If you can't manage the basics, no one will take you seriously.

At the same time, maintaining the status quo is never enough. We don't wake up in the morning and say, “Today, I want to do exactly what I did yesterday.” As social human beings, we know variety is the spice of life. We don't want the same old thing; we long for the excitement of new frontiers and fresh challenges.

In today's hypercompetitive and continually evolving markets, innovation is essential for success. Innovation is more than a frill or a luxury; it's absolutely imperative. Consumers and users expect to see new products and services unveiled at frequent intervals. When they don't see innovation, they suspect something is wrong.

But here's the hard truth: when you're running at full-speed and firing on all cylinders, you don't have time to be innovative. Your first and primary concern is getting the job done as quickly and as effectively as possible. That's the way modern industry works—your pay is based on your performance and your performance is typically judged by operational parameters.

Superstars such as Beyoncé, the singer-songwriter-performer, and Jony Ive, the former chief design officer of Apple, are compensated ...