Transforming Legacy OrganizationsTurn your Established Business into an Innovation Champion to Win the Future
Expert guidance on how to grow innovation and optimize already-successful areas of established organizations Transforming Legacy Organizations provides real-world advice and research-based information on how to grow innovation by employing new technologies, improving processes, and establishing a culture of creativity and forward momentum. Conventional business wisdom views innovation as the biggest advantage startups have over large, established organizations, often referred to as legacy organizations. This belief is false, especially when considering that 70% of all startups fail within 20 months of their first venture round. The truth is innovation initiatives of legacy organizations have far better chances of succeeding. Organizations with superior resources—money, customers, suppliers, data, employees, infrastructure—can overcome challenges from new entrepreneurial ventures: knowing how to leverage their underutilized advantage is key for achieving sustained, long-term innovation success. Author Kris Oestergaard has been teaching established organizations around the world for over 15 years. Transforming Legacy Organizations illustrates how to best pursue innovation to create future success. This book helps leaders to: Incorporate proven strategies and research-based information into your organization’s overall innovation initiatives Use new technologies to improve processes and increase innovation Learn to capitalize on your organization’s existing resources to beat startups at their own game Transform innovative concepts into specific products, services, and business models Reinvent your organization to overcome disruptions in the market and challenges from new competitors Transforming Legacy Organizations: Turn your Established Business into an Innovation Champion to Win the Future is a valuable resource for leaders of established companies such as C-Suite executives, senior managers, and heads of business development, innovation, and digital teams.
Introduction Part 1: Sharpen The Axe Chapter 1: From Innovation Theater to Innovation Culture Chapter 2: What Is the Purpose? Chapter 3: Which Industry Am I In? Chapter 4: What Do Customers Want? Chapter 5: Who Are My Competitors? Part 2: Understand The Immune Systems Chapter 6: It’s the Employees That Don’t Want To: The Individual Immune System Chapter 7: You Get What You Measure: The Organizational Immune System Chapter 8: We Don’t Know It, So We Don’t Want It: The Societal Immune System Part 3: Innovate In Three Tracks Chapter 9: The Extra Blade on the Razor: Optimizing Innovation Chapter 10: It's Not a Sprint, It's an Ultramarathon: Augmenting Innovation Chapter 11: From Status Quo to Continuous Innovation: Culture Hacks Chapter 12: Can You Imagine a Future That Doesn’t Involve X ?: Mutating Innovation Conclusion References
KRIS ØSTERGAARD Kris is the co-founder and Chief Learning & Innovation Officer of SingularityU Nordic, the Nordic entity of Silicon Valley based educational institution, Singularity University. Kris is a globally sought-after advisor and keynote speaker on innovation in legacy organisations and corporate culture, as well as co-founder of the experience design firm DARE2, accelerator program Thinkubator and co-working space DARE2mansion. Kris is a researcher and writer who also co-authored The Fundamental 4s - Designing Extraordinary Customer Experiences in an Exponential World. He and his business partner Laila Pawlak are the first persons outside of the USA to be a recipient of the Experience Management Achievement Award. Kris is also a board member, angel investor and advisor to both startups and Fortune 500s.
"This book is practical, helpful, and accessible. I highly recommend it." —KYLE NEL, bestselling author of Leading Transformation, former Executive Director for Lowe's Innovation Labs In today's business landscape, it can seem like startups appear virtually overnight and disrupt individual companies, and even entire industries. It is now increasingly common for large, established legacy organizations to be more fearful of the new crop of innovative startups than their closest competitors. Startups can devote all their time and resources to one or two new products. Innovation is much more difficult for legacy organizations as they must take many more factors into consideration. However, the reality is the innovation initiatives of legacy organizations have a greater chance of succeeding. When assessing resources—money, customers, suppliers, data, employees, infrastructure – legacy organizations clearly hold the advantage. Knowing how to leverage this advantage is crucial for achieving sustained, long-term success. Transforming Legacy Organizations provides real-world advice and research-based information on how to grow innovation by employing new technologies, digitising and continually moving forward. "Innovation is not just for the young and digital. As Kris Oestergaard makes clear, legacy organizations can also – must also! – innovate to create economic value now and into the future. Follow this path in transforming your legacy organization to snatch victory from the jaws of disruption." —B. JOSEPH PINE II, bestselling co-author of The Experience Economy
"A welcome addition to the innovation canon!" —STEVEN KOTLER, NY Times bestselling author of Bold, Abundance and The Rise of Superman REAL-WORLD STRATEGIES FOR IMPROVING PROCESSES, OPTIMISING SUCCESSES, AND INCREASING INNOVATION Innovation is one of the things that larger, established organizations, also known as legacy organizations, talk the most about and have the hardest time succeeding with. This book helps organizations understand how to become the innovation champions of the future. Learn how to transform your organization's status quo culture into a culture full of innovators Identify the patterns that create barriers towards innovation and how to overcome them Divide innovation into three separate tracks – optimising, augmenting and transforming innovation Understand the core questions you need to ask to be prepared for the increased competition and opportunities that technological development presents Transform your organization's culture to foster innovation and embrace new technologies Transforming Legacy Organizations will enable businesses to pursue innovation and create future success. "Kris Oestergaard does an amazing job highlighting and defining the key issues preventing established companies to transform. His book is a must read if you are hoping to be the disruptor and not the disrupted in this age of unicorns." —SALIM ISMAIL, bestselling author of Exponential Organizations
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