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- Innovation guru Vijay Govindarajan expands the leader's innovation tool kit with a simple and proven method for allocating the organization's energy, time, and resources—in balanced measure—across what he calls "the three boxes": Box 1: The present—Manage the core business at peak profitability; Box 2: The past—Abandon ideas, practices, and attitudes that could inhibit innovation; Box 3: The future—Convert breakthrough ideas into new products and businesses.
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1. Manage the present. Keep the current business going. 2. Selectively forget the past. Forget what made the business successful in the past. 3. Create the future. Create the new model.
Apr 13, 2024 · Key Principles: The Three-Box Solution operates on principles such as balancing the management of the present, allocation of time, strong leadership commitment, and dynamic adaptation. Stages: It unfolds across three stages: managing the present (Box 1), selectively abandoning the past (Box 2), and creating the future (Box 3).
In the three boxes, companies must do the following: Box 1—Manage the present core business at peak efficiency and profitability. Box 2—Escape the traps of the past by identifying and divesting businesses and abandoning practices, ideas, and attitudes that have lost relevance in a changed environment. 3.
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- The Hindu Universe
- 'Shoot A Rocket Through The Business'
- Eat, Pray, Love, Plan
The origins of the idea, says Govindarajan, go back to Hindu cosmology, which posits three gods: Vishnu, the preserver, Shiva, the destroyer, and Brahma, the creator. “According to Hindu scripture, none of these is any more important than the other two,” says Govindarajan. “It’s only through balanced action that humanity as we know it can be sustai...
There are two ways to identify and divest outdated businesses, says Govindarajan. The first is to set up a dedicated Box 3 team for innovation that is isolated from the rest of the business—either by recruiting people from outside or setting up different metrics or processes—so it doesn’t have to forget what it never learned. “Suppose you find your...
To visualize the concept, he develops a metaphor from the popular self-discovery memoir Eat, Pray, Love. The narrator of that book, Elizabeth Gilbert, talks about the future in terms of two horses—free will and fate—one of which you can control, and the other you can’t. “Most organizations focus on the horse they can’t control,” he says. “Especiall...
This is a simple strategy for creating innovation in an organization. The strategy is to focus on extending your current business model (Box 1), creating something entirely new (Box 3), and stopping activity no longer fruitful (Box 2). Each one has a significant impact on innovation.
The three-box framework makes leading innovation easier because it gives leaders a simple vocabulary and set of tools for managing and measuring these different sets of behaviors and activities across all levels of the organization.
Mar 29, 2016 · Professor Vijay Govindarajan puts forward his three box strategy for leading innovation in the future. He argues that it is as important to create the future as managing the present is. And this means adapting to change through non-linear, breakthrough innovation.
