Video Summary
Why Embracing Passionate People Drives Innovation
Introduction
In a rapidly evolving technological landscape, innovation is key to organizational success. Discover how prioritizing passionate individuals over bright ideas can revolutionize your business.
The Rapid Evolution of Technology and Innovation in Society
- Can you believe that the device in your pocket today has more communication power than what President Kennedy had just 50 years ago? This staggering fact showcases the rapid evolution of technology and the myriad opportunities it presents. For instance, consider the timeline for the adoption of phones in the United States; it took over 50 years before half the population owned one. However, with the introduction of wireless phones, this timeframe reduced to just 16 years, and further dwindled to 6 years for smartphones. This exponential technological growth not only highlights the pace of development but also emphasizes the decreasing time it takes for new innovations to be embraced. The implications of this phenomenon are vast, impacting not only society but also the business landscape. Organizations striving to remain relevant must prioritize innovation. While many CEOs recognize this need, the challenge lies in the execution of innovative ideas. A mere declaration of intent is insufficient; what truly matters is the tangible actions taken to drive innovation forward. Surprisingly, only a fifth of CEOs prioritize innovation as a key strategic agenda item, showcasing the hurdles that hinder successful innovation efforts. Implementing change within an organization is inherently difficult, primarily because innovation entails venturing into uncharted territories and embracing novelty.
Innovative Organizations in the Face of Change
- Most of the larger organizations nowadays are not set up for new and different things. They have - I would call it an ‘immune system.’ So the corporate antibodies will come and attack those new and different things or people. Innovation is about long-term results versus most of the organizations are all driven by very short-term KPI’s and results. Even though a lot of these organizations say, ‘Of course, you’re allowed to fail in our organization,’ employees don’t feel it that way. Failure is not an option in most of these organizations. Now, I’m not surprised to see that - if you look at a study from Oxford that looked at the biggest 500 organizations in our world, they predict that almost half of it will no longer exist by 2020. That’s five years from now. Imagine the biggest corporations, organizations that you know of five years from now will maybe no longer exist. Why? Because they simply won’t be able to cope with this increasing speed of change due to technology. This has huge implications. How do you cope with this change? How do you remain an innovative organization? And the interesting thing here is that most of these organizations are trying to solve 21st-century problems; however, they were designed in the 20th century or maybe even in the 19th century. I truly believe to be innovative as an organization - and I’ve been in the innovation space for a couple of years now - it’s not about finding the new bright ideas. It’s not about having all these processes in place or having innovation in your strategy. It’s about finding the right people around you, people that are passionate about what they do and want to drive change.
The Transformation of Rob: From Accountant to Healthcare Innovator
- Rob, a seasoned accountant for over a decade, stumbled upon a transformative idea when his wife introduced him to a medical app. Intrigued by the app’s capability to calculate morphine dosages for children in hospitals, Rob questioned the reliability of the technology. This curiosity ignited a spark in him to shift his focus from financial statements to auditing medical apps. Despite initial skepticism from his colleagues and superiors, Rob’s passion and conviction led him to the doorstep of the innovation department. Recognizing his unwavering belief in the potential of medical apps, they offered him a position to spearhead this novel venture. Rob wasn’t hired for his technical prowess or business acumen but for his fervor and commitment to revolutionize healthcare technology. Today, Rob, once camera shy, graces public platforms as a renowned healthcare innovator, delivering insightful lectures at prestigious health conferences.
Creating the Right Conditions for Innovation
- Imagine a scenario where an individual, once tasked with merely checking a room, now leads a team, drives product development, and successfully sells products. By providing the right environment, this person has uncovered new markets and opportunities that were previously unseen. While it’s easy to illustrate with an example, executing this in reality is a challenging feat. Within our own organization, we have initiated various processes like ideation, brainstorming, and idea generation to foster innovation. Contrary to popular belief that innovation is solely about creativity, it actually hinges on identifying and nurturing the right talent. By offering conducive conditions, we enable individuals to affect significant transformations. Passionate individuals do not perceive obstacles but rather possibilities; they don’t see limitations but envision prospects. They are not motivated by directives but by beliefs, not by salaries but by purpose. For a large organization to be truly innovative and sustain that innovation, it’s imperative to provide these individuals with the appropriate setting. Let’s delve into the crucial three conditions I deem essential. Firstly, recruit based on passion rather than skills. Why hire based on past accomplishments when resumes only narrate history and not future aspirations? Opt for passion over mere expertise. Secondly, cultivate a safe haven for these individuals. It’s futile to have passionate employees if corporate hindrances hinder their progress. Establish an environment where they can dedicate themselves wholeheartedly.
The Power of Embracing Failure and Hiring Passionate People
- In a dynamic organization, it is crucial to empower employees to work on projects they find most valuable. One innovative approach is to introduce an ‘I messed up’ card, not for trivial mistakes but to encourage taking calculated risks and fostering an entrepreneurial mindset. Employees are given a year to use the card, with the consequence of termination if not utilized. This strategy prompts individuals to explore new avenues and initiatives they might have hesitated to pursue. Moreover, it shifts the responsibility from the employee to the leader, fostering a culture of accountability and innovation. By valuing people who have a genuine belief in a cause and providing them with autonomy, organizations can stay ahead in an ever-evolving landscape.
Conclusion
By valuing passionate individuals and creating a conducive environment for their growth, organizations can stay ahead in the ever-changing business environment. Embracing people over ideas is the key to driving innovation and achieving sustainable success.