Elijah Eilert is talking to Peter LePiane about innovation within large organizations. Part one of the podcast, explores the core principles of innovation, the challenges associated with measuring its impact, and the formidable obstacles faced in corporate landscapes.
Starting with the question of “What is Innovation?” Peter offers his perspective, emphasizing the fusion of novelty and impact in the concept of innovation. According to him, innovation involves the introduction of genuinely new ideas or solutions to the world, with a keen focus on how these innovations are received within the market. The episode underscores that innovation is not limited to grandiose endeavours like space exploration; it can manifest subtly yet profoundly in various aspects of a business. Transitioning to the topic of “Measuring Innovation,” the podcast shines a spotlight on this often-overlooked aspect that is crucial for evaluating the effectiveness of innovation efforts. Finally, the conversation confronts the significant hurdles that hinder innovation within large organizations. From challenges rooted in organizational design and financial models to the complexities of incentive structures and cultural mindsets, the barriers that can impede progress are dissected. The episode aims to provide practical insights into overcoming these challenges and fostering a culture that actively promotes and sustains innovation.
[02:28] What is Innovation?
Peter’s perspective on innovation combines novelty and impact. For him, innovation is about introducing something new and meaningful to the world, with a focus on both the idea itself and its reception in the market.
[08:28] How Should Innovation be Measured?
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