Being able to foster an environment of Innovation, many brands have decided to either look to create within their own “ecosphere” or “outsource”. The issue with the “ecosphere” approach is there needs to be clear commitment to, and integration of Innovation ideation and eventual commercialization. Many brands will find excuses, or simply “claim” they have an innovation driven organization.
The other when you “outsource” is finding a partner that TRULY understands your brand, the culture, heritage and has been inside the belly of the beast, meaningful “work” smarts, not “book” smarts. To many times I have seen brands try to push this off to an outside firm without asking the right questions. You need someone who has been in the space you are looking to change, and has successfully navigated across all areas of the brand.
At LiquidMind, (LiquidMindsite.com), our bloodline comes from having key executive roles inside these brands, and knowing what it takes to integrate new strategies for success.
Good outline on Innovation principles from Harvard Business Review.
Bryan Smeltzer is a successful consumer products business executive and entrepreneur. He has held executive-level roles in business development, product, and marketing with some of the world's most prestigious brands, including; Oakley, TaylorMade, Adidas, K-Swiss, Schutt Sports, among other international brands. In addition, Mr. Smeltzer founded an apparel brand, successfully running a profitable business for ten years, eventually selling to a VC firm. He currently oversees LiquidMind Inc., a global brand strategy firm that partners with both start-ups and established brands to empower their businesses to think different, be different, drive a passionate culture, and execute relentlessly.