A Practical Approach
The list of major corporations crushed by tech startups is staggering. No one wants to become the next Blockbuster
What are the stumbling blocks of enterprise innovation?
The reasons why corporations tend to shy away from big ideas are often understandable. With any new venture comes risk — not to mention the required investment. But systematic issues also play a significant role in hindering innovation. These are some of the most prevalent blockers that keep companies operating in a state of status quo.
What makes Theorem’s approach unique?
Enterprises can either adapt their existing project portfolio management process for innovation approvals or customize and define a new one to fit their needs.Ideas should flow through a funnel that filters them out based upon various criteria, such as fit to business strategy, the maturity of the technology adoption curve, the ability to implement, commercial viability, market potential, availability of funding, and the risk associated with implementation.
Typically, some incentive is provided at the funnel entrance to keep submissions coming in. Rewards are then given depending on the success of the idea.
Transforming organizations since 2007
- We have over a decade of delivering quality solutions for our customers.
Implementation of agile sprints
- You’ll shortcut months of time into weeks through an efficient, iterative cycle.
Design thinking experts
- Each team member has an average of 10 years of hands-on experience.
Formation of cross-functional “squads”
- We show you how to form small, nimble teams with the autonomy to move fast.
Seamless handoff to your team
- We provide the tools and support for long-term, ongoing success.
"Design thinking has the power to change the way you approach problem-solving by always referencing the ‘why.’ Why are we doing this? You learn to question your assumptions every step of the way."
How to manage enterprise innovation
Cultivating new ideas takes time. If you expect immediate results, your team will not be set up for success. Instead, once you establish the innovations hubs, ongoing management and executive support become critical. It is essential to prioritize and allocate funding, in addition to keeping fresh ideas flowing. The leadership team must advocate for the hubs to ensure they have the time and resources to produce impactful products — otherwise, you risk a floundering program that only gets you halfway to where you want to go.
A continuous flow of ideas starts with the right processes and tools. You can generate new concepts within large enterprises using:
The output of our workshop is an implementation and investment plan for next steps, so that a team can then develop and test prototypes. Other key results include:
- Increased speed from idea to prototype
- Improved customer satisfaction
- Efficiency and cost savings
- A culture of innovation
- Workshops to brainstorm as a group
- A workflow tool to capture new ideas from employees
- A ticketing system analysis to find potential improvements
- A competitive analysis to identify relevant improvements to organizational operations
- The application of industry trends and technology advancements to solve business problems