Innovation is strategic investment in doing new things :: Ethan Karp

What is Innovation?

Ethan Karp, President and CEO of MAGNET sheds light on the different pillars of innovation and emphasizes the critical importance of people and talent in driving successful innovation. As a millennial CEO, Ethan also shares his insights on navigating the current work culture and leveraging the strengths of a diverse and dynamic team.

More about our guest:

Dr. Ethan Karp is an expert in transforming companies and communities. He’s a committed change-maker and community builder: Board Chair of the Cleveland/Cuyahoga County Workforce Development, and serves as a Director on the boards of; the American Small Manufacturers Coalition, the Cleveland Leadership Center, MidTown Cleveland, Inc., Cleveland Jewish Publication Company and the Jewish Education Center of Cleveland. Dr. Karp is a recognized thought leader on manufacturing issues and a frequent media commentator on the future of manufacturing in America. Prior to joining MAGNET in 2013, Dr. Karp worked with Fortune 500 companies at McKinsey & Co. He received undergraduate degrees in biochemistry and physics from Miami University and a Ph.D. in Chemical Biology from Harvard University. Dr. Karp lives in Cleveland with his wife and three young girls.

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Episode Guide:

1:46 - What is innovation?

5:07 - Four buckets of technology

6:53 - Technology and Innovation: The people (talent) side

8:52 - Technology and Innovation: The company side

9:57 - Technology and Innovation: Culture

11:50 - Assessing Risk Profiles

16:49 - Case Study: Giant Red Barn of Cleveland

20:35 - What isn't innovation?

25:26 - Continuum in innovation

28:40 - Philosophy of leadership

31:14 - Advice for innovators

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OUTLAST Consulting offers professional development and strategic advisory services in the areas of innovation and diversity management.