Why Execution and Innovation are Fundamentally Different

In today’s fast-paced business world, innovation is often touted as the key to success. However, it is important to note that innovation alone is not enough to drive business success. 

It’s like ideas – they are interesting, everyone has one, but mean nothing if you don’t or can’t implement it. 

This is the biggest problem in business transformation today, the focus is on the wrong thing (intentionally by those that should know better, and benefit from it). 

In this post, we will discuss Innovation and Execution, the difference, the focus, where the industry is going wrong, and what to do instead.

If you are a Business Owner, Leader or Manager and want to transform your organisation faster, with less risk, less effort, less cost and less time, then this is for you.

Introduction to the importance of innovation and execution in business

Innovation is the process of coming up with new ideas, products, or services that in our context – Business Transformation, is used to transform your business. 

It is all about generating new and exciting concepts that can revolutionise an industry or solve a particular problem

Innovation and its Role in Business Transformation

On the other hand, execution is the process of implementing those ideas into a business’s operations. It is essential to understand that innovation is not enough. You must execute your ideas to bring them to life and realise their full potential.

Execution and its Importance in Realising Innovation

The execution involves implementing your ideas, which also means including your Target Operating Model (TOM). Your TOM is how your organisation is structured and will operate most efficiently and effectively, utilising that added value of innovation.

Target Operating Model (TOM)

While innovation is crucial, there is a word of caution to be kept in mind. The ‘dot com boom’ is a prime example of how innovation can lead to the creation of ‘vapour-ware.’ Many of the ideas generated during that time were interesting but ultimately useless. 

Similarly, the use of jargon and buzzwords by Big 4 Consulting firms can often be a time-suck, wasting time and money while running up massive 7-figure-plus bills. They know this, but they won’t tell you that. That is money in their bank, thanks to your ignorance.

Potential pitfalls of innovation, and beware of the consulting firms!

A better approach is to follow a structured approach to innovation and business transformation, such as HOBA Tech’s six-step ‘design’ process. This process ensures that you address the five W’s and one H questions – the big strategic questions your organisation is trying or attempting to address and answer with your transformation, and uses innovation ideas and solutions to solve it.

And heres the clincher – those ideas are your teams! We believe that your people, the same people that are closest to the problem, and the customer, and also who operate the processes are the best people, with the best ideas to solve. They just need a structured, tried and proven approach to do that. 

Looking for that structured, tried and proven approach? Keep reading!

Introduction of a structured approach to business transformation, HOBA Tech's six-step 'design' process

This process brings together the strategic ideas from the top of the organisation ie ‘the guys upstairs’, with Business Operations aka the guys in the coal face, who operate the processes, and addresses the 5W1H strategic questions:

WHY – Why are you transforming (i.e., what is your Vision)?

WHO – Who is involved (i.e., what stakeholders are both affected and impacted from the Business; are they represented in the business design, how are they represented in the business design decisions, and who makes those business design decisions)?

WHAT – What are the problems and opportunities that your business design i.e., TOM, will address, remove, improve, and take advantage of, today and in the future?

WHY – The second ‘Why,’ which is often overlooked in the marketplace today, is the Business-Operations Why. What are the Business Benefits that the Business-Operations want to release from the transformation (and then, what are the in-scope changes – people, process, technology & data, that when implemented enable the Business to realise those Business Benefits)?

WHERE & HOW – Where and how does the organisation need to change (using those above – People, Process, Technology & Data changes) to address those pain points and improvement opportunities in the current operation model above)?, and finally,

WHEN – When will these changes be implemented, and most importantly, when will the planned Business Benefits be realised?

This structured approach ensures that you move from innovation to execution, rather than death-by-powerpoint or creating beautiful presentations that sound impressive but mean nothing.

If you want to join the top 30% club that makes Business Transformation a success the first time, on time, HOBA Tech is holding a FREE webinar on how to do just that.

Sign up today to learn how to move from innovation to execution and achieve success in your business transformation efforts.

About HOBA Tech

If you liked what you read, learn more about Business Transformation and how to bring it to reality with less stress, less effort, less time, less cost, and higher profit. Learn about our award-winning agile Business Transformation framework, already used by thousands across the world to transform their business, including the UK Government, FTSE 100 Companies and start-ups, check it out here.

If you want to read why others are calling The Business Transformation Playbook the “Business Transformation Bible,” read the reviews on Amazon here.

Hope you find that useful. If you did, let me know in the comments below what you like and would like to see next, and share this with anyone you think would benefit from it!

Thank you for reading this!

Sincerely,

Signature-Heath

Heath Gascoigne

P.S. If you want to join our Business Transformator community of 2,000+ like-minded Business Transformators, join the community on the Business Transformator Facebook Group here.

P.P.S. If you want to learn more about business transformation, check out The Business Transformation Playbook here.

TAGS
Heath Gascoigne

Heath Gascoigne

Hi, I'm Heath, the founder of HOBA TECH and host of The Business Transformation Podcast. I help Business Transformation Consultants, Business Designers and Business Architects transform their and their clients' business and join the 30% club that succeed. Join me on this journey.

Can't get enough real insights? Subscribe to Transformology®!​

We’ll send jargon free insights that you can actually use to transform your business straight to your inbox once a week. 

Work Smarter, not Harder!

Subscribe to Transformology®

[optin-monster slug="wtx24ezklpthpzchkjze"]

Connect with Us

Trending

Become a Master of Business Transformation

Learn about Business-led Business Transformation
using the proven 6-step agile transformation framework
trusted by the UK Government, FTSE-100 and
fast growing companies

What's HOBA®?

HOBA® is the new way to transform organisations and the answer to the 70% failure rate of business and digital transformation projects today.

Learn more about HOBA®

Are you a consultant,
team or organisation
embarking on your
transformation and
want to move from the
model of transforming
business?

Join our free webinar
and learn ‘How to
maximum the return
on your
transformations,
improve service
delivery with less
effort, less time & cost
and increased profits!’

AGILE 1.0 ... 2.0

Successful Business Transformation starts here

More Articles

Business Transformation Industry Is Broken
Heath Gascoigne

Business Transformation Industry is Broken

Why The Business Transformation Industry Is Broken? Before I show you how to transform your business, let’s define business transformation. What Is Business Transformation? Business Transformation is when a business changes the way it conducts business. It doesn’t necessarily change what it does, but how it does it.This can involve a change […]

Read More »
Business-Architecture-Challenge-3
Heath Gascoigne

The Business Architecture Challenge

Let’s start this post by defining business architecture. What Is Business Architecture? Business architecture refers to an organization’s framework. The Business Architecture Working Group of the Object Management Group (OMG), calls it “a blueprint of the enterprise that provides a common understanding of the organization and is used to align strategic objectives and tactical […]

Read More »
Aligns the Business
Heath Gascoigne

What Is Enterprise Architecture Really?

Let’s start this post by defining enterprise architecture… What Is Enterprise Architecture? Enterprise Architecture looks at both Business and Technology Architecture. TechTarget calls it “a conceptual blueprint that defines the structure and operation of an organization”.Its aims to make sure your IT investment will help you achieve your current and future objectives at the […]

Read More »
Vector Globe Design for Business Transformation

Get content like this sent directly to your inbox!

Scroll to Top

Webinar has eneded, Join Waitlist

The Webinar has ended and Please join waitlist to contact with us.

Apologies, The Scorecard is currently down!

We are working to get it restored. Leave your details below to be notified when we got it back up again!

Cookie-Man.svg

This website uses cookies to ensure you get the best experience on our website.

Verified by MonsterInsights