Innovation vs. execution: You have to have both
As 2023 approaches, I’m hearing a lot about what companies will be announcing at the upcoming Consumer Electronics Show (CES). One pitch that stood out for me has a shot at owning the show in terms of innovation — and since CES is the first big tech event of the year, it would make this company an innovation leader for the new year.
But innovation carries risk. And while this company is not risk-averse, many are, making the innovation path problematic.
Let’s think about the yin and yang of innovation vs. execution, and why execution and tolerance for failure are critical to real innovation.
Winning the smartphone world
One of the most seemingly innovative products so far this century is Apple’s iPhone, which arrived in 2007. But about five years before that, Phillips had showcased a similar concept; a year before that, LG brought a similar product to market; and both Microsoft (a client of the author) and Palm had working groups on iPhone-like products.