The Three-Box Solution
A Strategy for Leading Innovation
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The Three-Box Solution
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Narrated by:
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Jack Garrett
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Written by:
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Vijay Govindarajan
About this listen
How to innovate and execute.
Leaders already know that innovation calls for a different set of activities, skills, methods, metrics, mind-sets, and leadership approaches. And it is well understood that creating a new business and optimizing an already existing one are two fundamentally different management challenges. The real problem for leaders is doing both simultaneously. How do you meet the performance requirements of the existing business - one that is still thriving - while dramatically reinventing it? How do you envision a change in your current business model before a crisis forces you to abandon it? Innovation guru Vijay Govindarajan expands the leader's innovation tool kit with a simple and proven method for allocating the organization's energy, time, and resources-in balanced measure-across what he calls "the three boxes":
- Box one: The present - Manage the core business at peak profitability
- Box two: The past - Abandon ideas, practices, and attitudes that could inhibit innovation
- Box three: The future - Convert breakthrough ideas into new products and businesses