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Episode 13 of 43

Andrea Miskolczi on Innovation and Transformation

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station description Fringe Legal provides snackable bites on innovation, transformation, and knowledge ... read more
‎Fringe Legal
Duration: 32:52
Andrea is a visionary leader with a passion for combining digitalisation with human potential. She has 20+ years of experience in the legal business both as a transactional lawyer and as a leader for various business areas (marketing, business development, innovation, and legal tech). If you haven't
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Andrea is a visionary leader with a passion for combining digitalisation with human potential. She has 20+ years of experience in the legal business both as a transactional lawyer and as a leader for various business areas (marketing, business development, innovation, and legal tech). If you haven't already, be sure to subscribe to the Fringe Legal Newsletter to get 3-5 interesting ideas delivered every Sunday. Join 530+ people. It's free. Join at www.fringelegal.com/newsletterSummary
Why every legal professional needs to know about digital transformation
What does Innovation mean to Andrea
many people mix up innovation with the change, or they mix up innovation with creativity and creativity is certainly necessary for innovation, but it's not enough. It's not the same... Many innovation projects include changing behaviors, adopting new working methods, adopting technology, but change is not equal to innovation... innovation and entrepreneurship is a key success factor for every single company, every single business, also for the legal, it's important that it creates value. It has an economic, positive impact
In reality, innovation is hard work. It's a very structured and focused process. You know the words 'fail fast', so you monitor the process and stop it. You have to create value. You have to have an innovation strategy that is aligned with the overall business strategy. So it is a science and it is something which is a serious and very impactful part of business management.


How to create a culture supporting innovation and transformation
What's the impact of Covid-19 on innovation strategy, and how it will lead to the great unmasking of the "innovation theatre"
Some people say that in the next 10 years, the amount of change will be equal to the previous hundred years. And, that's why I say that in the short term, you might have to state safe as a business; in the midterm, you will have to stay hungry; and, in the long term, you have to stay foolish.
For those moonshots or long term ideas, you need an innovation strategy. Research shows that in corporate innovation if you have a reactive approach and you just wait for people, you encourage them and incentivize them, but you wait that they come up with ideas most of the ideas will be incremental changes, mostly process changes. I would say that's nice - valuable. But more importantly, these days especially is to have a strategic view and formulate to people the direction we would like to get new ideas on, or which are the problems that are a priority for our firm.


Using gamification to drive technology adoption, and how Andrea used this successfully at her previous firm
Connecting pieces of the legal supply chain - what is the connection between strategy, innovation, technology and business development.

Find Andrea on LinkedIn and Twitter.
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