Suppose we have the matrices

Questions

Suppоse we hаve the mаtrices

Yоu аre оne оf the senior leаders of а mid-sized successful financial services company (Z Corp). You are pleased with recent results in your business unit; in fact, you’ve been just promoted to the executive committee.  One of your new EC colleagues suggests that while things are going well now, Z Corp doesn’t really have innovation embedded in its culture – “we have been innovative in the past, sure, but I’m not convinced it is really a key part of our DNA.”   Others on the EC think things are just fine – one colleague was adamant that “we are growing and are profitable; our DNA is to win!”  Given you are the most recent member of the EC and have (so far) seemed to be a neutral voice in this long-running debate within the group, the CEO asks you to develop a plan to increase the innovativeness of Z Corp.  The CEO made it clear that he is not expecting you identify new opportunities yourself; he is looking longer-term and wants a plan to ‘futureproof’ Z Corp success. a) What would say to get your skeptical colleague, who thinks ‘innovation culture’ is merely shorthand for sloppiness and undisciplined processes, as a supporter to your plan? b) What are the key planks in your plan to increase the innovation culture of Z Corp? And, how can you maximize the likelihood of success when implementing the plan?