Corporate innovation is at a pivotal juncture in Canada and across the globe. Most organizations feel some level of threat at the moment, and we’re seeing national pride take centre (yes, centre with an ‘re’) stage. From an innovation perspective, we’re already seeing companies and sectors step up to embrace new supply chains, new business offerings and new entrepreneurial ventures, embodying the sentiment that we should never let a good crisis go to waste. Let’s look at why you likely need to review your corporate innovation program with fresh eyes to ensure you're taking change in stride, using it to propel your innovation forward.

But first, allow me a short but relevant digression. If you’re a music junkie like me, perhaps you’ll recall the song "Video Killed the Radio Star," which famously captured the anxiety that new video technology would render old forms of media creativity obsolete. The lyrics were ironic considering the song’s video was the first video ever played on MTV when the channel began broadcasting in 1981:

They took the credit for your second symphony

Rewritten by machine and new technology

and now I understand the problems you can see

So, how does a 1979 new wave synth pop song relate to corporate innovation in 2025? Because it turns out that reports of radio’s death were greatly exaggerated. Through reinvention and resilience (it’s twice as popular as podcasts) radio has defied those worried lyrics recorded on a Revox A77 analog tape recorder one afternoon in 1978. How? By innovating and adapting. Embracing digital streaming integration, supporting emerging artists, and targeting hyper local audiences are just a few ways radio has evolved - both by necessity and by intention.

At the time of Video Killed the Radio Star’s release, MTV co-founder Bob Pittman said “We didn't expect to be competitive with radio, but it was certainly a sea-change kind of video." I love the term sea change, but I’d argue that there is no longer such a thing. Instead, if you’ll pardon the pun, we just constantly see change, and we also need to see clearly the opportunities it brings.

Disruption is no longer an event. It is the new normal.While external disruptions might tempt businesses to play it safe with impulsive reactivity, this is precisely the moment to double down on innovation. Future-proofing isn't about having a crystal ball but is instead about building an organization that can take quantum leaps to achieve breakthroughs that redefine what's possible.

While external disruptions might tempt businesses to play it safe, this is precisely the moment to double down on innovation to ensure long-term sustainability. Insularity and self-sufficiency are not synonymous with innovation; rather, they often stifle progress. Impulsive reactivity, such as shutting down R&D or cutting your most innovative performers and departments might be a natural response to competitive challenges, but is  not the answer.

The most resilient companies are those that adopt a structured but nimble approach to innovation, managing risks AND seizing opportunities.

Is your innovation program on track? A Quick Diagnostic

To know whether your corporate innovation needs a retool, you must first ask the right questions. Here’s a quick diagnostic. If you answer NO to two or more of these questions, you might want to consider retooling your approach to CI with an innovation audit.

PRO TIP: BE REALLY HONEST with yourself when answering.

1. Does your innovation program / process clearly support your overall organizational business goals and strategy? Is innovation an activity or bolt-on, the responsibility of one department? Or is it baked into your business strategy? Are the business outcomes of your innovation clearly quantified and measured? One of the challenges we often see is that CI programs operate in a bubble. This can inhibit their ability to embed promising ideas into the business strategy.
2. Are you experimenting with many different TYPES of innovation to address your innovation goals and business strategy? Often innovation programs are heavily focussed on developing new products, versus other fundamental types of innovation.  For example, do you focus on other types of innovation such as channel innovation (how your offerings are delivered), network innovation (how you connect with others to create value), or customer experience innovation (how customers interact with you)? The Doblin framework is a great reference point for the 10 types of innovation you can consider.
3. Is your planning horizon annual or even more frequent? Gone are the days of the 3-5 year planning horizon. Advanced technologies and new business models now evolve at an exponential pace (doubling every year). If your process remains linear and your competition has leveraged exponential technology, you might be left behind. COVID, AI and our current global trade environment show us clearly that we need to be prepared to sense change and adapt quickly.  Scenario-based planning can help.  Three years ago, did we anticipate customer service bots that seem like real humans, chatbots that comfort and reassure us after a medical diagnosis, or robots that serve us coffee or cocktails? The world is unpredictable and your innovation and strategy need to be dynamic and regularly tuned to avoid Blockbuster or Kodak moments. (For a quick read, check out an oldie but a goodie, The Art of the Long View by Peter Schwartz)
4. Do you have programs and systems in place to empower your organization’s innovation culture? A unifying purpose is essential to building a culture of innovation. Crystal balls and strategy projects with highly paid MBAs are a thing of the past. Future-proofing isn't about having a crystal ball. It's about building an organization that can rapidly scan and sense  opportunities early and move on them quickly. You do that by fostering a culture of continuous learning and practical experimentation.
5. Are you engaging with a broader innovation ecosystem outside of your organization? This includes connecting with startups, looking at adjacent industries, engaging with research / academia and other organizations or individuals that can help you avoid industry /  technology / geographic echo chambers and groupthink. If you’ve heard the phrase, “That’s not how we do it … (“here”, “in this company”, “in this industry”) it might be time to get outside your bubble. Most of the most disruptive innovations over the past decade have originated from outside of the incumbent leading industry players. Ride sharing apps, for example, did not originate with cab companies, but with two consumers frustrated that they couldn’t find a taxi on a snowy night. Uber, born of consumer frustration, revolutionized urban mobility, with taxi companies still scrambling to remain relevant.
6. Are you looking at - but also beyond - technology? AI is changing the world around us faster than anyone anticipated. Five years ago, it was barely on the radar for most organizations. Now, all organizations need to make sure that they have an AI strategy baked into their business. Have you done a robust assessment of the impact of advanced AI on your business components? But remember: Innovation is not just about technology. How are you innovating using the other critical olologies - psychology and sociology - tapping into how people think, behave and interact? All the most advanced technologies in the world won’t drive business value if humans don’t buy them, use them, and interact with them.
7. Are you intentionally seeking diversity of thought? There is more than one way to think. Diversity of thought broadens perspectives within an organization and embraces a variety of mindsets, attitudes and approaches. I love the concept of ‘orthogonal thinking,’ a method of approaching problems from unrelated or perpendicular angles. (Book recommendation: Orthogonal Thinking: My Own Search For Meaning In Mathematics, Literature & Life). If you’re doing corporate innovation well, you’ll view today's technological and geopolitical pressures as catalysts for creativity and adaptation. Your business must embrace - not fear - this dynamic. This is your opportunity to drive innovation in ways previously unimaginable - what I would describe as a series of quantum innovation leaps. Imagine business planning as a series of strides, each step representing progress.

Now, picture those strides not just as regular steps, but as leaps that grow exponentially larger with each move. This is the essence of quantum change. Instead of walking at a steady pace, quantum change is like breaking into a run where every stride propels you further and faster than the last. It's about embracing innovation and transformative strategies that don't just inch you forward but catapult you to achieve breakthroughs that redefine what's possible.

If there were ever a time to take that quantum leap, it’s now.

If you’re not sure where to start or are looking for a second opinion on your Innovation Strategy, including a Corporate Innovation Audit, get in touch! Our experts are ready to help.

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