The Vijay Govindarajan Video Series Week 22
One of the three challenges outlined by VG in last week’s video was the “challenge to forget.” How do we put aside assumptions that have become so deeply embedded in an organization so we can pave the way for Box 3 thinking and execute breakthrough innovation.
This week VG flags up three common mistakes in forgetting:
- Hiring only from within: don’t overestimate the capabilities of the performance engine. Employees that have performed well in Box 1 will find it difficult to forget what has brought them success so far.
- Asking the performance engine to execute Box 3 experimentation: the performance engine (Box 1) is not designed for Box 3 innovation.
- Adopting the same performance metric for Box 3 as for Box 1: you need a new performance metric for Box 3; Box 3 is not the same business model as Box 1.
Also this week we have two sets of practical application exercises where VG shows how you can build a dedicated team: how to construct a Box 3 business model and how to gather the skills together required for for Box 3 experimentation and execution.
Video 31: Three Common Mistakes in Forgetting
Video 32: Building a Dedicated Team – Application Exercise Part 1
Video 32: Building a Dedicated Team – Application Exercise Part 2
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