In the past few weeks we’ve written about need for management to get out of the bunker mentality that uncertainty and a rapidly unfolding crisis had pushed us into, and how we have a perfect storm for innovation with demand collapsing for the old thing while new demand is popping up as we adapt, and the government is (effectively) subsidising innovation by providing unsecured loans and underwriting payroll (via JobKeeper). Put these together and you have the potential for (some) firms to emerge from the crisis stronger and more capable than they went in. New winners and losers will be created, and so on. That leaves one question unanswered: Where should a firm look for these new opportunities?
Now we’ve had a go at creating an innovation mud map to help find where a firm might innovate. Our hope is for this to be a conversation starter inside firms.