The Legal Innovator’s DilemmaHow Do We Instigate the Change We NEED to Truly Be Innovative?
“Innovation is not simply having a new idea, but transforming those ideas into action and into outcomes”
How is the “innovator’s dilemma” applicable to law firms?
The “innovator’s dilemma” is a term coined by Clayton Christensen, a professor at Harvard Business School. It speaks to the idea that when any market leader is doing well there is NOT an incentive for it to change. Therefore, you may often hear your fellow colleagues saying: “But do we need to change . . . quite yet?
That is the innovator’s dilemma - why shouldn't we just wait until it's very clear that the time for change is upon us? What Christensen highlights is that by the time many of us may react to the changes, it is often too late. A popular example of such a phenomenon was Kodak. They invented much of digital camera technology. Yet they didn't themselves embrace it and by the time they recognized the market had shifted, other players had rapidly come to dominate.
Because the market can move quickly, leaders can find it very hard to adapt, in time. Innovation can be polarizing. It conjures up coolness and threat, inevitability and unpredictability, attraction and avoidance.
Here’s the question to ask now: Are your efforts, approach and methodology bringing about the necessary change—capturing partner support, and contributing to your firm’s culture of innovation?
Innovative cultures are collaborative, intellectually curious, accountable, and fast. They are client-focused and solution oriented. They create environments where professionals find meaning in their work, believe they create impact, and see that risk-taking is has inherent advantages.
Ark Group’s 2nd Annual Law Firm Change Management Summit – The Legal Innovator’s Dilemma – will address:
- How to define and align strategy and innovation in your firm;
- Why some innovation efforts can fail and what to do about it;
- How to create a springboard for motivating and managing change;
- Partnering with clients, sponsoring innovation events, and working with an Innovation Committee;
- Employing design thinking as an innovation change tool;
- And measuring “ROI” - Return On Innovation