We recently heard the phrase "innovation theatre", and according to ChatGPT it can be defined as:
"a term often used to describe situations in which an organization or company puts on a show of #innovation and creativity without actually delivering substantial or meaningful results in terms of new products, services, or processes. It refers to the appearance of innovation, rather than genuine innovation itself.
Some characteristics of innovation theatre might include:
1. Cosmetic changes: Organizations may make superficial changes to their branding, website, or office spaces to give the appearance of being innovative, but these changes do not lead to substantial improvements in their products or services.
2. Overemphasis on buzzwords: Companies may use trendy buzzwords and jargon associated with innovation, such as "disruption," "agile," or "design thinking," without implementing the underlying principles effectively.
3. Lack of follow-through: Ideas may be generated in brainstorming sessions or hackathons, but they often fail to be implemented or integrated into the company's core operations.
4. Failure to allocate resources: An organization may claim to prioritize innovation, but when it comes to allocating resources, such as time, budget, or personnel, they may not provide the necessary support for innovative projects.
5. Focusing on appearances: The organization may be more concerned with appearing innovative to customers, investors, or competitors rather than genuinely seeking to drive meaningful change or solve real problems.
Innovation theatre can be detrimental because it can create a culture of cynicism and skepticism among employees and stakeholders when they perceive that innovation efforts are insincere or superficial. It's important for organizations to foster a genuine culture of innovation that supports and rewards creativity, experimentation, and the pursuit of meaningful solutions to real challenges."
It feels like there might be a long cast list in this particular show in the world of M&A.
