Lean Innovation for Growth

Lean Innovation for Growth

Lesson
Our two previous posts introduced the Need for Lean Innovation and Lean Startup Thinking. In our conversations about Startup Thinking and Innovation, we want to clearly encourage that these innovation tools and strategies work for established companies equally as well as they do for start-ups. In fact, most of the companies Lean East supports are mature companies, not early-stage companies with a nascent product idea to test. In this post we will like to show that there are four primary types of innovation for existing companies, as presented by the Harvard Business Review article "You need an Innovation Strategy," Gary P. Pisano in 2015. The four types are described by whether they feature a business model innovation or technical competency innovation. Then we share three suggestions for existing companies who…
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7 Lessons from Good to Great

7 Lessons from Good to Great

Lesson
  Influential management professor Jim Collins released the popular Good to Great: Why Some Companies Make the Leap...and Others Don’t in 2001. The book is really a research project led by Collins as a follow-up to his book Built to Last. He researched hundreds of companies to identify sets of “good” companies where one became “great” while a close competitor failed. Collins and his team tried to discover what the “great” companies did differently from the comparison companies and the general market. The book is a bestseller that has become a management strategy classic on how to grow a successful company and our team has given the book as a gift to numerous organizational leaders. Key points can be summarized by the image below – this post will summarize the key…
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When: Scientific Secrets of Perfect Timing

When: Scientific Secrets of Perfect Timing

Lesson
  This post is a summary of the key learnings from the 2018 book, When: The Scientific Secrets of Perfect Timing by Daniel H. Pink. The book was an instant bestseller from the well-known author, and draws upon recent research from psychology, biology, neuroscience and economics. It is easy to read with many great examples and stories to demonstrate that Timing is really a science. This post synthesizes the main takeaways from each chapter of the book to save our readers some time!   Figure Out Your Daily When Are you a morning lark, night owl, or third bird? To find out, identify the midpoint of your typical night’s sleep- halfway between going to sleep and waking up. If the midpoint is before 3 AM you are probably a lark.…
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Understanding Key Performance Indicators

Understanding Key Performance Indicators

Summary
Key performance indicators (KPIs) are the vital few metrics that define success or failure for a process. KPIs vary based upon the process being studied and the definitions of success for the process. Good organizations understand their KPIs. Better organizations measure them. The best organizations seek to improve them every day. Read on to learn about Key Performance Indicators and how a team or department can use a balanced scorecard of KPIs to support improvement.     The initial challenge with KPIs is selecting them properly from the many possible performance indicators available. The second challenge is determining how to measure and share them throughout the organization. Our team has helped numerous organizations establish and measure KPIs. Here are some highlights from the Lean East training module covering the selection…
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Five Ways to Engage Millennials

Five Ways to Engage Millennials

Summary
Millennials (also known as Generation Y) represent people born from about 1982 to 2000.1  These 17 to 35-year-olds are expected to represent 75% of the US workforce by 2025 and are technologically savvy and purpose driven. Yet business leaders have expressed frustration from this group of workers. How can they attract, hire and retain talented young millennials?   Leaders find millennials make challenging employees due to their sense of entitlement, impatience, and inattention to authority.2  Many millennials struggled to find good jobs during the 2008 recession and have been called “lazy, entitled narcissists who still live with their parents” by Time Magazine. Yet millennials are technologically savvy and purpose-driven. Companies that relate well to this age group can benefit greatly. Here are five ways you can engage the millennials who already…
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Radical Candor

Radical Candor

Lesson
  This is a summary of the 2017 book, Radical Candor: Be a Kick-Ass Boss Without Losing Your Humanity by Kim Scott. Ms. Scott describes leadership lessons she learned while working in Silicon Valley for Google, Apple, and start-up companies. Her former boss at Google (and an accomplished author herself) Sheryl Sandberg writes, “Radical Candor will help you inspire teams to do the best work of their lives.” Great bosses have strong relationships with their employees. Three simple principles for building better employee relationships are: Make it personal Get (sh)it done Understand why it matters Scott shares the concept of Radical Candor on a 2X2 grid with one axis how much you care personally about the person and the other axis how much you challenge directly, (i.e. “be brutally honest”). Scott names…
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SWOT Analysis

SWOT Analysis

Summary
Brainstorming to assess organizational strengths, weaknesses, opportunities and threats The Lean East team was recently hired to facilitate several meetings for mid-large size organizations seeking managerial input to their strategic planning process. We conducted SWOT analysis sessions with these teams to discover how the leaders perceived the organization’s strengths, weaknesses, opportunities and threats. We will share the process and agenda we used for this informative brainstorming technique to help you plan your own session. SWOT is an acronym for strengths, weaknesses, opportunities and threats and can be used to study a person, product, service, team or organization. SWOT analysis considers both internal and external factors; strengths and weaknesses consider the factors inside of the organization, while opportunities and threats focus on business and market factors external to the organization. The…
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