In a recent McKinsey survey, 84% of interviewed leaders indicated that they consider innovation as extremely important to growth. Interestingly, 94% of them added that: a) they were dissatisfied with their organization's innovation performance; and b) some form of transformation was neccessary in order to keep up with the pace of change in the wider business environment.
The WAVE Lab is capitalizing on its research capabilities to enrich existing and develop new tools and methodologies that help organizations (big or small, existing or new ones) in their growth transformation plans.
For example, we extended a best-practice methodology for managing the development of an idea from inception to commercialization, by incorporating methods and tools from the startup community, such as Lean Startup, Pre-totyping, and Effectuation (see figure below). Our research findings in business ecosystems and e3-value flow management provide further insights for improving this methodology, by integrating value management throughout the idea development process.
Action research approach
Researching for new insights
Developing intellectual capital
Deploying it in real life
Feed back and repeat
Open Data & Business Analytics