'Innovation Matrix' book review: A winning strategy

In this book, the two authors very simply yet in an effective way unveil a matrix which outlines a winning strategy for business to be successful.

Published: 03rd November 2019 05:00 AM  |   Last Updated: 02nd November 2019 05:41 PM   |  A+A-

For representational purposes

For representational purposes

Express News Service

Amidst the uncertainties and disruptions in a volatile world, organisations need to innovate—conceptualise winning designs and strategically implement them to stay successfully ahead or even afloat. In this book, the two authors very simply yet in an effective way unveil a matrix which outlines a winning strategy for business to be successful. The Innovation Matrix basically simplifies and structures innovation management.

It’s important for organisations to ensure that the bright ideas thought of do not get lost in the darkness due to inappropriate strategies. Therefore, capturing the value of these bright ideas is even more important. “A great innovation alone cannot be a winner… but with a great strategy even a simple innovation can shine.”

The book emphasises the need to look at innovations and intellectual property from a pragmatic perspective and the authors take you through three key steps—Think, Strategise, Act—to build on innovation and strategy.

In today’s world, a master specialist is only an asset to a team if the individual is able to zoom out and take a larger overview of a team’s requirements and provide solutions. In fact, working in compartments is absolutely a no-no and creating ideas or innovative designs jointly is an essential prerequisite as innovations in isolation may fall flat. The need is to ‘co-create’.  

Interesting tools have been suggested at stages to create the right matrix ensuring favourable end results. For instance, the reference of “knowing what to do when you don’t know what to do” is definitely a situation which most organisations would relate to.

The authors also refer to certain basics which most organisations tend to ignore. For instance, in today’s world every organisation needs to be connected to others in the ecosystem; and even beyond, in order to thrive, meet challenges and remain competitive. This would ensure best co-creations, which is an essential component to be successful.

Such thought-provocating yet simple ideas and a whole range of checklists enlisted in the book towards creating a winning matrix make it an interesting guide. The book also makes references to orthodox approach by many traditional business houses and it emphasises the fact that it’s innovation and not tradition that defines the road to success.

The business world today is ‘VUCA’—volatile, uncertain, complex and ambiguous—and to deal with these situations every organisation needs a matrix. How would you create yours?

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