https://steveblank.com/2022/11/11/the-three-pillars-of-world-class-corporate-innovation/

Pillars of Corporate Innovation

1. Innovation Portfolios: what are your company’s portfolio of innovation projects? Are your company’s innovation efforts exploring or exploiting business modes?
2. Innovation Programs: how are your company’s innovation programs are structured and managed. Do your leaders get excited about the wrong innovation programs? What results are your innovation programs producing? Are your company’s innovation programs interconnected in a strategic way?
3. Culture of Innovation: What are the blockers and enablers of innovation in your company – How much time does your leadership spend on innovation? Where does innovation live in your organization and how much power does it have? What is your kill rate for innovation projects?

Explore, then exploit:

• Explore: Search for new value propositions and business models by designing and testing new business ideas rather than execution.
• Exploit: Manage existing business models by scaling emerging businesses, renovating declining ones and protecting the successful ones.

Is it a culture that is dominated by blockers of innovation or enablers of innovation?

• Leadership Support: How can corporate leaders have the biggest impact on innovation in terms of time spent, strategic guidance, and resource allocation.
• Organizational Design: How to give innovation legitimacy and power, the right incentives, and clear policies for collaboration with the core business.
• Innovation Practice: How to develop people’s innovation skills and experience and acquire the right innovation talent. How to ensure that we are using the right tools, processes, and metrics to test and adapt ideas in order to reduce risk.