g-f(2)2802 Legacy to Leader: Navigating Radical Innovation

 

genioux Fact post by Fernando Machuca and Copilot

Introduction by Fernando and Copilot

In the ever-evolving landscape of the g-f New World, the ability to innovate is not just a competitive advantage but a necessity for survival and growth. “g-f(2)2802 Legacy to Leader: Navigating Radical Innovation” is a pivotal guide for legacy companies striving to transform themselves into leaders of the digital age. This post delves into the strategic framework outlined in the Harvard Business Review article “The Legacy Company’s Guide to Innovation,” providing actionable insights for established companies to embrace radical innovation.

The importance of “g-f(2)2802” in the g-f Transformation Game cannot be overstated. As legacy companies navigate the complexities of digital transformation, this guide offers a structured approach to initiate, nurture, and scale innovative projects. By leveraging their significant resources and fostering a culture of intrapreneurship, legacy companies can overcome the inherent challenges of radical innovation and achieve sustainable success.

In the g-f New World, where continuous learning, adaptation, and responsible leadership are key, “g-f(2)2802” serves as an essential roadmap for legacy companies to not only survive but thrive. It empowers them to harness the potential of digital transformation, driving positive change and making a lasting impact on a global scale.

Would you like to explore any specific aspect of this introduction further or proceed with the next section of the post?

Introduction

The article “The Legacy Company’s Guide to Innovation” from Harvard Business Review, authored by Ivanka Visnjic and Ronnie Leten, provides a strategic framework for established companies to navigate the complexities of radical innovation. It addresses the unique challenges legacy companies face and offers a structured approach to foster successful innovation.

genioux GK Nugget

"Legacy companies can achieve successful innovation by initiating multiple projects, scaling up successful ventures, and rapidly mobilizing resources." — Fernando Machuca and Copilot, August 22, 2024

genioux Foundational Fact

Legacy companies often struggle with radical innovation due to their structure, which is typically optimized for incremental improvements. To overcome this, they should adopt a three-stage innovation process: initiating multiple projects, scaling up successful ventures, and rapidly mobilizing resources to scale viable business models.

The 10 Most Relevant genioux Facts

1. Challenge of Radical Innovation: Legacy companies are often structured for incremental improvements, making radical innovation challenging.
2. Three-Stage Innovation Process: The recommended approach includes initiating multiple projects, scaling up successful ventures, and rapid mobilization.
3. Initiate Multiple Projects: Collaborate with start-ups or intrapreneurs to create a diverse portfolio of innovation projects.
4. Nurturing Projects: Support these projects until their potential for success becomes clear.
5. Scaling Up: Gradually increase commitment to projects that show promise, removing roadblocks to help them grow.
6. Rapid Mobilization: Quickly mobilize resources to scale up ventures with viable business models and a critical mass of customers.
7. Leveraging Resources: Legacy companies can leverage their significant resources to support innovation.
8. Collaboration with Start-ups: Partnering with entrepreneurial start-ups can bring fresh perspectives and innovative ideas.
9. Intrapreneurship: Encouraging intrapreneurship within the company can foster a culture of innovation.
10. Structured Approach: A structured approach to innovation increases the odds of success for legacy companies.

Conclusion

The article provides a valuable guide for legacy companies to navigate the complexities of innovation. By adopting a structured three-stage process, these companies can leverage their resources and overcome the challenges of radical innovation, ultimately achieving sustainable growth and success in the digital age.

REFERENCES

The g-f GK Context

Ivanka Visnjic and Ronnie Leten, The Legacy Company’s Guide to Innovation, Harvard Business Review, From the Magazine (September–October 2024).

ABOUT THE AUTHORS

Ivanka Visnjic is a professor at ESADE Business School in Barcelona and the head of its department of operations, innovation, and data sciences.

Ronnie Leten is the chairman of Epiroc, a Swedish-based manufacturer of mining and infrastructure equipment; the former chairman of Ericsson; and the former CEO of Atlas Copco.

Classical Summary of the Article

The article "The Legacy Company’s Guide to Innovation" from Harvard Business Review, authored by Ivanka Visnjic and Ronnie Leten, provides a comprehensive guide for established companies to innovate effectively¹.

The article highlights the challenges legacy companies face when attempting radical innovation, as they are often structured for incremental improvements rather than disruptive changes. To overcome this, the authors suggest a three-stage innovation process:

1. Initiate Multiple Projects: Collaborate with entrepreneurial start-ups or intrapreneurs to create a portfolio of projects. Nurture these projects until their potential for success becomes clear.
2. Scale Up Successful Ventures: Once a project shows promise, gradually increase commitment and remove roadblocks to help it grow.
3. Rapid Mobilization: When a venture's business model is viable and it has a critical mass of customers, quickly mobilize resources to scale it up.

By following this approach, legacy companies can leverage their significant resources while increasing the odds of successful innovation¹.

Source: Conversation with Copilot, 8/22/2024

(1) The Legacy Company’s Guide to Innovation - Harvard Business Review. https://hbr.org/2024/09/the-legacy-companys-guide-to-innovation?ab=HP-topics-text-8.

(2) The Legacy Company's Guide to Innovation | Harvard Business Publishing .... https://hbsp.harvard.edu/product/R2405E-PDF-ENG.

Ivanka Visnjic

Ivanka Visnjic is a distinguished professor at ESADE Business School in Barcelona, where she heads the Department of Operations, Innovation, and Data Sciences. She is also the Director of ESADE’s Institute for Innovation and Knowledge Management¹³.

Ivanka's journey to becoming a leading figure in innovation and business model research is both inspiring and remarkable. She grew up in Serbia during a tumultuous period, with the Balkan conflicts shaping her early years. Despite these challenges, she pursued her education with determination, earning a Ph.D. in Business Economics from the Catholic University of Leuven (K U Leuven) in Belgium³.

Her academic career began with roles at Cambridge University and London Business School, where she contributed significantly to research on business model innovation and servitization³. At ESADE, Ivanka teaches courses on innovation and creativity, equipping students with the methodologies and mindset needed to navigate the complexities of the modern business landscape¹.

Ivanka's research focuses on the intersection of innovation, business models, and ecosystems. She has published extensively in top academic journals and has been recognized as one of the "Best 40 Under 40 Professors" by Poets&Quants¹. Her work not only advances academic understanding but also provides practical insights for businesses aiming to innovate and thrive in a rapidly changing world.

Outside the classroom, Ivanka is passionate about yoga, traveling, and engaging in diverse cultural experiences. She is known for her dynamic teaching style and her ability to inspire students to think creatively and take smart risks¹.

Ivanka Visnjic's contributions to the field of innovation and her dedication to education make her a prominent figure in the academic and business communities.

Would you like to know more about her specific research projects or any other aspect of her career?

¹: [Poets&Quants](https://poetsandquants.com/2020/04/29/2020-best-40-under-40-professors-ivanka-visnjic-esade-business-school/)

³: [ESADE - Academia.edu](https://esade.academia.edu/IvankaVisnjic/CurriculumVitae)

Source: Conversation with Copilot, 8/22/2024

(1) 2020 Best 40 Under 40 Professors: Ivanka Visnjic, Esade Business School. https://poetsandquants.com/2020/04/29/2020-best-40-under-40-professors-ivanka-visnjic-esade-business-school/.

(2) Ivanka Visnjic | ESADE - Academia.edu. https://esade.academia.edu/IvankaVisnjic/CurriculumVitae.

(3) ‪Ivanka Visnjic‬ - ‪Google Scholar‬. https://scholar.google.com/citations?user=kSdDWZ0AAAAJ.

(4) Ivanka Visnjic | Associate professor, Esade Business School. https://dobetter.esade.edu/en/author/ivanka-visnjic.

(5) Ivanka Visnjic - Networks of evidence and expertise for public policy. https://www.csap.cam.ac.uk/network/ivanka-visnjic/.

Ronnie Leten

Ronnie Leten is a prominent Belgian businessman known for his leadership roles in several major companies. Born on December 12, 1956, in Beringen, Belgium, Leten has built a distinguished career in the industrial sector¹.

He graduated from the University of Hasselt in 1979 with a master's degree in Business Administration¹. Leten began his professional journey at General Biscuit Belgie BVBA ('LU') from 1979 to 1985. He then joined Atlas Copco, Belgium, in 1985, where he held various leadership positions¹.

After a brief stint as a production manager for Tenneco Automotive, Leten returned to Atlas Copco in 1995. He served as the president of the Airtec division from 1999 to 2001 and the president of the Industrial Air division from 2001 to 2006. He then became the business area president for the Compressor Technique business area from 2006 to 2009¹. In 2009, Leten was appointed President and CEO of Atlas Copco, a position he held until 2017¹.

In 2018, Leten took on the role of Chairman of Epiroc, a Swedish-based manufacturer of mining and infrastructure equipment, which was created from Atlas Copco's Mining and Rock Excavation Technique business area¹. He also became the Chairman of Ericsson in the same year¹.

Throughout his career, Leten has been recognized for his contributions to the industry. He has received several awards, including being named Knight of the North Star Order, first class, by Swedish King Carl Gustaf in 2019, and Commander in the Order of Leopold II, Belgium, in 2014¹.

Ronnie Leten's leadership and strategic vision have made a significant impact on the companies he has led, driving innovation and growth in the industrial sector.

Would you like to know more about his specific achievements or any other aspect of his career?

¹: [Wikipedia](https://en.wikipedia.org/wiki/Ronnie_Leten)

Source: Conversation with Copilot, 8/22/2024

(1) Ronnie Leten - Wikipedia. https://en.wikipedia.org/wiki/Ronnie_Leten.

(2) Ronnie Leten | Epiroc. https://www.epirocgroup.com/en/investors/corporate-governance/board-of-directors/ronnie-leten.

(3) Ronnie Leten Biography, Age, Height, Wife, Net Worth, Family. https://www.celebsagewiki.com/ronnie-leten.

(4) Ronnie Leten Net Worth (2024) | wallmine. https://wallmine.com/lse/0o86/officer/2105944/ronnie-leten.

(5) undefined. https://www.piab.com/news/mats-rahmstrom-new-chair-of-piab/.

(6) en.wikipedia.org. https://en.wikipedia.org/wiki/Ronnie_Leten.

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