Management guru Clay Christensen has convincingly demonstrated how disruptive innovations in various industries have dismantled the prevailing business model.
And, as Michael G. Jacobides, Professor of Strategic and International Management at the London Business School, notes: when an entire “industry architecture” is transformed, it is not only “who does what” that changes, it is also “who takes what”.
Innovation is an integral part of business success.
Innovation is essential for sustainable growth in today's marketplace.
But how do you get your teams to generate new ideas?
Innovation involves conceiving, and implementing viable ideas that make an impact.
Innovative efforts to meet business needs and challenges, impact on business performance.
Innovation requires a systematic process
Innovation is a well-structured process that breaks down functional and non-functional requirements to a basic design view to provide a clear system development process framework.
The world is increasingly culturally diverse, global and connected. The rapid pace of technological transformation, accelerating speed of change impacts our working environment.
And to build and sustain a competitive advantage, companies must continuously innovate.
Innovation requires a workforce with deeper knowledge and skills than ever before.
By 2025, millennials – who expect more collaborative and virtual ways of working – will comprise nearly 75% of the world’s workforce. This calls for new collaborative digitally-minded ways of working, providing a seamless experience across disparate systems that optimise the talents across the extended enterprise – new technologies and behavioural standards for the rest of the organisation to follow. Well-managed virtual workers can help companies achieve new levels of efficiency and innovation.
This demands a corporate culture which is marked by individual responsibility, creativity, and transformation, as to perceive new interrelationships, and integrate differing viewpoints.
This is the very case when the company’s survival capability in the future, is its innovations.
Innovations are born in people’s heads, not generated by managed processes.
Innovative ideas can come from newly-hired employees, in newly-acquired business units or from contractors.
All part of the puzzle that can deliver high value.