What will you learn from this book
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Three-Box Framework: Govindarajan's Three-Box framework provides a structured approach to managing innovation. The three boxes represent the past (Box 1 - Manage the Present), the present transitional period (Box 2 - Selectively Forget the Past), and the future (Box 3 - Create the Future).
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Manage the Present (Box 1): This box emphasizes the importance of efficiently managing and optimizing existing operations and business models. It involves focusing on current products, services, and processes to sustain the core business.
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Selectively Forget the Past (Box 2): Box 2 encourages leaders to selectively forget outdated practices and processes. This involves identifying and discarding elements from the past that may hinder innovation. It's about freeing up resources and mental bandwidth for new initiatives.
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Create the Future (Box 3): The third box is about fostering innovation and creating the future. It involves exploring new ideas, technologies, and business models. Leaders are encouraged to experiment, take risks, and invest in long-term initiatives that will drive future growth.
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Balancing the Boxes: Govindarajan stresses the need for a balance between all three boxes. While managing the present is crucial for immediate stability, forgetting the past and creating the future are essential for long-term success and relevance.
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Innovation Ambidexterity: The Three-Box Solution promotes the concept of innovation ambidexterity, where organizations simultaneously exploit existing capabilities and explore new opportunities.
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Leadership Role: The book outlines the critical role of leadership in driving innovation. Leaders are responsible for allocating resources effectively, fostering a culture of innovation, and guiding the organization through the transitions represented by the three boxes.
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Execution and Implementation: Govindarajan provides insights into how organizations can effectively execute and implement the Three-Box framework. This includes practical advice on managing the tensions between different boxes.
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Examples and Case Studies: The book likely includes real-world examples and case studies to illustrate how organizations have successfully applied the Three-Box Solution to drive innovation.
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Continuous Learning: The Three-Box Solution encourages a culture of continuous learning and adaptation. Organizations need to evolve and iterate their strategies based on ongoing feedback and changing market conditions.
| Language | English |
|---|---|
| ISBN-10 | 1633690148 |
| ISBN-13 | 9781633690141 |
| No of pages | 256 |
| Font Size | Medium |
| Book Publisher | Harvard Business Review Press |
| Published Date | 01 Jan 2015 |
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How to Innovate and Execute
Leaders already know that innovation calls for a different set of activities, skills, methods, metrics, mind-sets, and leadership approaches. And it is well understood that creating a new business and optimizing an already existing one are two fundamentally different management challenges. The real problem for leaders is doing both, simultaneously. How do you meet the performance requirements of the existing business one that is still thriving while dramatically reinventing it? How do you envision a change in your current business model before a crisis forces you to abandon it?
Innovation guru Vijay Govindarajan expands the leader’s innovation tool kit with a simple and proven method for allocating the organization’s energy, time, and resources in balanced measure across what he calls the three boxes”:
Box 1: The present Manage the core business at peak profitability
Box 2: The past Abandon ideas, practices, and attitudes that could inhibit innovation
Box 3: The future Convert breakthrough ideas into new products and businesses
The three-box framework makes leading innovation easier because it gives leaders a simple vocabulary and set of tools for managing and measuring these different sets of behaviors and activities across all levels of the organization. Supported with rich company examples GE, Mahindra & Mahindra, Hasbro, IBM, United Rentals, and Tata Consultancy Services and testimonies of leaders who have successfully used this framework, this book solves once and for all the practical dilemma of how to align an organization on the critical but competing demands of innovation.