Management professor Vijay Govindarajan explains why companies have trouble implementing new ideas — and what they should do about it.
Vijay Govindarajan, the Earl C. Daum 1924 Professor of International Business and founding director of the Center for Global Leadership at the Tuck School of Business at Dartmouth, knows that implementing innovation is not quite so simple. For the past decade, he and Tuck School colleague Chris Trimble have been studying what happens after companies decide to bring that big idea to market.
They have reported the findings in their new book, The Other Side of Innovation: Solving the Execution Challenge (Harvard Business Review Press, 2010). In a recent discussion with strategy+business, Govindarajan discussed some of what the duo learned.
Why did you decide to focus your research on the execution side of innovation?
Why do companies find it difficult to execute new ideas?
If the performance engine can’t execute innovation, how then do you go about it?
You need a dedicated team for every type of innovation?
What dimensions should be considered as executives think about how to approach innovation execution?
How do you ensure the performance engine’s participation in executing the innovation?
Can you evaluate an innovation team in the same way you evaluate the performance engine?
Many companies are seeking to become innovation driven. Given what you’ve discovered in your research, is that an oxymoron?