A.I.M. for Success: Applied Innovation Management
Posted by Thomas Edwards on October 5, 2020 10:15 AM EDT
The business literature if rife with valuable lessons from both success and failure. On the subject of innovation and applying the principles of successful and repeatable innovation, there is much written based on detailed empirical research and....
...lessons derived based on experience and debate.
However, I wanted to offer a short blog based on a formula for applying some "ingredients" of both tried and true management models with those that are enriched by the pursuit of excellence, largely through the adoption of innovative methods, techniques and organizational culture. And while the business literature on all of these subjects is both extensive and diverse, I thought it would be fun to adopt some key points from a handful of books, some of which have been in publication for years.
So, "A.I.M for Success" can be thought of as an admonition but also as a useful methodology explained by the following formula-using various acronyms the include the letters O, S and P. For each of the acronyms in the formula, I will highlight some of my favorite business books and authors that espoused the particular business principle that the acronym stands for. So, here goes.
"A.I.M for Success" Formula:
OSP= Outstanding Sustained Performance (Book: "Good to Great" by Jim Collins, 2001.
PSO= People, Strategy, Operations (Book: "Execution: The Discipline of Getting Things Done" by Larry Bossidy and Ram Charan, 2002.
POS= Positively Outrageous Service (Book: "Positively Outrageous Service" by T. Scott Gross, 1991.
SPO=Systems, Process Optimization (Book: "Deming Management at Work" by Mary Walton, 1990.
SOP=Standard Operating Procedures (Book: "Winning" by Jack Welch, 2005).
OPS= Openness, Peering, Sharing (Book: "Peers Inc" by Robin Chase, 2015.
The power of the formula for A.I.M for Success lies in the combination of traditional approaches to building sustained and predictable "breakthrough success" with newer approaches that are enabled by collaboration and networked and mobile technologies. In practical and pragmatic terms, focusing on one or two of the acronyms in the formula (ie: OPS or SOP) and driving performance higher in that area of focus should improve performance. However, in theory, improving sustained organizational performance can be deeping enhanced if each of the acronyms were given energetic attention and somehow blended into an organization's "M.O." (Modus operandi). Figuring out how to do that and then managing to sustain it would in theory provide the foundation upon which an organization can deliver ever-increasing performance while leveraging the tried and true principles with the new possibilities that innovation, new technologies, new forms of organizing and unpredictable economic changes that inevitably will present themselves over time.