|Image [cc] Vyperx1|
We very often hear from bloggers on this site regarding the struggles associated with change and innovation. Fear of failure, lack of inertia, protecting territories—all seem to be stumbling blocks that many firms face when initiating change. It seems, however, some organizations have found a way to successfully encourage and nurture new ideas internally.
I had the pleasure of speaking to Karl Florida, Managing Director of Small Law Firm Business Segments and Innovation Champion, at Thomson Reuters, about a new innovation program the company has instituted.
While Thomson Reuter’s program appears mostly devoted to product development, law firms could certainly take advantage of this sort of model to solicit and promote ideas from within regarding client service and delivery, along with development of administrative efficiencies. The model, along with variations, allows and in fact, encourages a small, but safe space (with funding!) to experiment with new ideas without the associated pressure and demands to be “the right” solution out of the gate.
FYI, if you want to learn more about innovation tournaments, I highly recommend the book, Innovation Tournaments: Creating and Selecting Exceptional Opportunities, by Christian Terwiesch and Karl Ulrich (hat tip to CCH, for giving me the opportunity to see Karl Ulrich in action). Because don’t we all need some more peanut butter cups?