What Makes Teams Successful? The Habits That Turn Groups into High-Performing Teams For many Australian business owners, the biggest constraint to growth isn’t a lack of opportunity – it’s the reality of running a business that relies too heavily on them. When teams underperform, owners compensate. They work longer hours, make more decisions themselves and […]
Why Teams Fail and How to Fix Them Although many business owners and leaders recognise that effective leadership and collaborative teams are critical to success, they often fail to understand what makes teams successful, why teams fail and how to fix them. Whether you are a start-up or an established business, you must have clarity […]
The Golden Rules of Asset Protection Asset protection means protecting your accumulated wealth from losses and is essential to enjoying the success you create over the long-term. Regrettably, many business owners don’t put sufficient emphasis on asset protection. But this is a mistake because: The more successful you’ve been, the more you have to lose The […]
Ignore Business Risk at Your Peril Regrettably, many business owners don’t put sufficient emphasis on managing business risk (particularly downside risk) and, therefore, protecting the wealth they create. Typically, business owners underestimate downside risk because they haven’t previously suffered material loss and discount both the level of risk they face and its potential impact. Disproportionate […]
Innovation, Uncertainty and Risk Management Life and business are full of uncertainties, giving rise to unexpected events that result in opportunities and threats and, therefore, a need for risk management. You must manage risk and uncertainty to develop innovation as a core competency so that you can effectively capture opportunity and mitigate threats. Risk management […]
Knowledge Management and Innovation Knowledge management is essentially the cultivation, harvesting and utilisation of knowledge.As innovation is the commercialization of new ideas, knowledge plays a pivotal role in the innovation process. It’s an essential part of making sure you capture the most from yourinnovation efforts. How to Boost Your Knowledge Management Capabilities You can gain […]
Change Management and Innovation In today’s business environment, change management is an imperative. Innovation and change aren’t things that happen now and then. They’re an ongoing and dynamic process that you must actively manage to maintain: Alignment with your business environment Your competitive advantage over the long term. You must effectively move from the relative […]
Killing Innovation Projects with The Stage Gate Innovation Selection Process An excellent approach for managing the effectiveness of your investment in innovation is the Stage Gate process. Innovation project selection and investment becomes particularity important as you move beyond the smaller low risk opportunities to large and more radical projects involving higher degrees of uncertainty. […]
How to Search for and Select Innovation Projects Managing innovation requires generating lots of ideas and saying ‘no’ to potentially good innovation projects so you can pursue those within the bounds of your resources, capabilities and strategic direction. You can’t afford to innovate at random or pursue all potential innovation projects – you must select […]
Harnessing Innovation Potential by Leveraging Creativity from Constraints It sounds counterintuitive, but creativity from constraints is a thing. Have you ever wondered why large corporates with apparently unlimited resources still struggle to innovate effectively? Meanwhile, smaller businesses with minimal resources are often more innovative. Often this is due to creativity from constraints – the boost […]
