Evolution: a process of slow change and development.
Revolution: a sudden, extreme, or complete change in the way people live, work, etc.
Evolutionary innovation results in steady gradual growth over time whereas Revolutionary innovation results in rapid growth that eventually fizzles away (it needs another revolution to survive, or in most cases will become evolutionary over time). Both have risk – as a revolution can fail and an evolution can die out. (quick sketches to illustrate this below)
A blended model lets an organization take in (successful) revolutions and accelerate its growth, allowing it to extend its evolutionary life.
To accelerate innovation – both evolutionary and revolutionary should be leveraged and be a part of an organizations growth strategy; but thats easier said than done.
To build up and reflect on the previous learnings/posts the following is a summary on some crucial points that should be taken into account:
- Define the process and rules for evolutionary innovation and revolutionary innovation (the core team focuses on evolutionary and the MVIT focuses on revolutionary) as a strategic effort.
- Obtain executive sponsorship for the MVIT.
- Define GTM strategy and process for revolutionary innovations
- Communicate strategy to both top and bottom and get buy in.
- Budget and fund the MVIT.
- Reduce dependency and ensure the MVIT is a complete unit (has all the resources it needs and does not rely on others)
- Focus on execution.
- Optimize often.