Transforming Legacy Organizations Turn your Established Business into an Innovation Champion to Win the Future

Product DescriptionExpert guidance on how to grow innovation and optimize already-successful areas of established organizationsTransforming Legacy Organizations provides real-world advice and research-based information on how to grow innovation by employing new technologies, improving processes, and establishing a culture of creativity and forward momentum. Conventional business wisdom views innovation as the biggest advantage startups have over large, established organizations, often referred to as legacy organizations. This belief is false, especially when considering that 70% of all startups fail within 20 months of their first venture round. The truth is innovation initiatives of legacy organizations have far better chances of succeeding. Organizations with superior resources-money, customers, suppliers, data, employees, infrastructure-can overcome challenges from new entrepreneurial ventures: knowing how to leverage their underutilized advantage is key for achieving sustained, long-term innovation success.Author Kris Oestergaard has been teaching established organizations around the world for over 15 years. Transforming Legacy Organizations illustrates how to best pursue innovation to create future success. This book helps leaders to:Incorporate proven strategies and research-based information into your organizations overall innovation initiativesUse new technologies to improve processes and increase innovationLearn to capitalize on your organizations existing resources to beat startups at their own gameTransform innovative concepts into specific products, services, and business modelsReinvent your organization to overcome disruptions in the market and challenges from new competitorsTransforming Legacy Organizations: Turn your Established Business into an Innovation Champion to Win the Future is a valuable resource for leaders of established companies such as C-Suite executives, senior managers, and heads of business development, innovation, and digital teams.From the Inside FlapThis book is practical, helpful, and accessible. I highly recommend it. KYLE NEL, bestselling author of Leading Transformation, former Executive Director for Lowes Innovation Labs In todays business landscape, it can seem like startups appear virtually overnight and disrupt individual companies, and even entire industries. It is now increasingly common for large, established legacy organizations to be more fearful of the new crop of innovative startups than their closest competitors. Startups can devote all their time and resources to one or two new products. Innovation is much more difficult for legacy organizations as they must take many more factors into consideration. However, the reality is the innovation initiatives of legacy organizations have a greater chance of succeeding. When assessing resourcesmoney, customers, suppliers, data, employees, infrastructure legacy organizations clearly hold the advantage. Knowing how to leverage this advantage is crucial for achieving sustained, long-term success. Transforming Legacy Organizations provides real-world advice and research-based information on how to grow innovation by employing new technologies, digitising and continually moving forward. Innovation is not just for the young and digital. As Kris Oestergaard makes clear, legacy organizations can also must also! innovate to create economic value now and into the future. Follow this path in transforming your legacy organization to snatch victory from the jaws of disruption. B. JOSEPH PINE II, bestselling co-author of The Experience EconomyFrom the Back CoverA welcome addition to the innovation canon! STEVEN KOTLER, NY Times bestselling author of Bold, Abundance and The Rise of Superman REAL-WORLD STRATEGIES FOR IMPROVING PROCESSES, OPTIMISING SUCCESSES, AND INCREASING INNOVATION Innovation is one of the things that larger, established organizations, also known as legacy organizations, talk t