Global Product Management Talk is pleased to bring you episode 046 of...

The Everyday Innovator with host Chad McAllister, PhD.

The podcast is all about helping people involved in innovation and managing products become more successful, grow their careers, and STANDOUT from their peers.

About Our Guest: When it comes to innovation, there are significant distinctions between startups and large enterprises. Startups have the advantage of agility and ability to rapidly change directions because they are not encumbered with legacy systems and organizational constraints. Large enterprises have access to greater resources and an established brand but also have erected barriers to innovation over time and inertia to change has set in. Such enterprises often reach a point where they realize that their existing culture, processes, and structure have limited their innovation to the point of harming the organization. I frequently have conversations with leaders of companies about these very issues.

What should large companies do that wish to be more innovative? A place to start is benchmarking the actions Caterpillar is taking to overcome innovation barriers they created over many years and turn the organization into an innovation machine. To explore their actions, I had the sincere pleasure of talking with Ken Gray, Caterpillar’s global Director of Innovation. Ken has worn many hats at Caterpillar, including mechanical engineer, product manager, global product manager, and leader. He is well suited for the Innovation role.

We discussed many aspects of creating an innovation group in a large established company, including the three innovation categories that structure their work.