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HBR IdeaCast

How Companies Get Creativity Right (and Wrong)

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.41.9K Ratings

🗓️ 18 September 2018

⏱️ 31 minutes

🧾️ Download transcript

Summary

Beth Comstock, the first female vice chair at General Electric, thinks companies large and small often approach innovation the wrong way. They either try to throw money at the problem before it has a clear market, misallocate resources, or don't get buy in from senior leaders to enact real change. Comstock spent many years at GE - under both Jack Welsh's and Jeffrey Immelt's leadership - before leaving the company late last year. She's the author of the book "Imagine It Forward: Courage, Creativity, and the Power of Change.”

Transcript

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0:00.0

Hey everyone it's Kurt we need your help with our annual survey this is your last chance to help us get to know you so we can make idea cast even better for you

0:09.8

it's easy just go to HBR.org

0:13.0

podcast survey.

0:15.0

Again, that's HBR.org.

0:17.0

And thanks for listening. Welcome to the HBR IDEA Cast from Harvard Business Review. I'm Sarah Green Carmichael. Innovation can be tough.

0:45.0

Innovation can be tough,

0:50.0

especially at big legacy companies.

0:52.0

A lot of those companies try to make changes by setting up special departments,

0:56.3

incubators, or R&D groups to focus on future products or services.

1:00.9

But Beth Comstock isn't so sure that's the best route.

1:04.0

I think everybody's job in a company needs to be focused on these efforts of what's new and next.

1:09.0

I don't think you just delegate that to the what's next department.

1:12.0

Beth Comstockstock is the author of the new book Imagine It Forward, Courage, Creativity, and the Power of Change.

1:18.0

She worked at NBC, CBS, and Turner Broadcasting during times of intense

1:23.5

upheaval in the media industry before going on to become the first

1:27.6

female vice chair at General Electric, a company she left late last year.

1:31.4

She says that successful innovation means

1:34.4

investment, clear strategy and goals, and buy-in from senior leaders, and it

1:39.3

means more and more individuals thinking of themselves as creative.

1:44.0

Harvard Business Review's editor-in-chief Adi Ignatius recently sat down with Comstock,

1:48.0

and he started by asking her about the right way to innovate or introduce change at a company, big or small.

1:57.0

Now I think some people might say, GE have these massive resources yeah and this ability to

...

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