The value of true innovation during times of disruption paid Workday
, innovation can move in mysterious ways, whether it’s conversational smart toilets, four-legged concept vehicles, or a boxing “coach” that uses artificial intelligence to communicate., David Rowan made the point that none of those things are truly impactful on society.
“I was looking for successful incumbent businesses—from media to manufacturing—that had found ways to build new value even as the internet was commodifying today’s business. I wanted to understand the mindset of leadership teams who were motivating their staff to think ambitiously in fresh ways and launch successful new business lines. I sought to learn how company cultures can enable real change,” Rowan said.
Yet he also met companies that faced real challenges. “The corporate directors of innovation I met had all read Clayton Christensen, but for all their excitement about ‘disruption,’ they could never execute as boldly as the founders I’d got to know at WhatsApp, LinkedIn, Google, Spotify, Xiaomi, Didi, Nest, or Twitter,” which he cited as among the most innovative companies he’s encountered.
Rowan outlines the key areas pivotal to genuine innovation. Here we’ve encapsulated the highlights into a top five list:Rowan argues that genuine innovation relies on independence from stock market pressures, highlighting studies on companies that are cooperatively owned by workers, such as Arup or by companies owned by their customers, like Op Bank in Finland.
Other examples he shared include family-controlled businesses not accountable to short-term market pressures, including Meyer Innovation Factory, whose mission is to promote design thinking at Meyer, a leading global cookware manufacturer.
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