The Planet and Me insights: How to build and strengthen the innovation muscle

The Planet and Me webinar series helps professionals thrive in today's fast-changing business landscape through focused, expert conversations. In this 30-minute episode packed with actionable insights, I spoke with Delphi Group founder Tom Kouropoulos about enhancing leadership while building innovative organizations. He shared why embracing a “license to fail” mindset drives transformative change, turning today's uncertainties into tomorrow's essentials. His insights on forward-thinking solutions, particularly in energy transition, offer surprising yet crucial perspectives for our future.

With 30 years of advising global organizations under his belt, Kouropoulos gets to the heart of why organizations struggle with innovation. “Everyone has to believe that they have the right to submit their ideas and that their ideas, when submitted, will find someplace to get a foothold,” Kouropoulos says. “If you don't create that sort of a track record, people are going to get the message that it's not their job.”

Practical approaches to build and strengthen the innovation muscle:

To build and strengthen this innovation muscle in your company, Kouropoulos advocates for two practical approaches I found particularly valuable. 

1. Scenario-based planning builds organizational resilience and adaptability as businesses take risks to get to that next step. 
2. Building centers of competency, which are dedicated spaces for innovation within organizations. At Cummins Inc., I have seen multiple business units incorporate centers of competency to foster ideas about how best to engineer our products and services. 

Tom says adopting these approaches can help businesses reimagine their innovation strategies. Here are some of his key takeaways.

• Innovation is not instant – it requires cultivating a company-wide culture.
• Every employee needs to feel they have a license to innovate and fail.
• View AI as a collaborator that enhances human creativity.
• Measure innovation success through clear metrics and sustainable practices.

Watch the full interview to hear Kouropoulos' insights on building innovation competency within your team, from setting parameters for acceptable failure to creating a culture where new ideas can flourish.