Innovation involves a visionary, strategic and a systemic lever to effect business breakthroughs, changes, competitiveness, growth and value. This enables organizations to...
One of the most challenging and thrilling aspects of reinvention, transformation and business game shifting is the opportunity it creates for continuous, experiential and deep learning and change. Albert Einstein famously said, “We cannot solve the problem with the same thinking we used when we created them”.
Conventional linear planning and problem solving processes using the same thinking that created some of these undesirable problems in the first place aren’t not going to result in the visionary, creative ideas and innovative solutions required to solve them.
To accomplish innovation under any circumstance is to realise it is in essence about seeing, perceiving and solving problems in creative ways. How do you do that in huge organizations or small enterprises?
It is about flipping opportunities and possibilities on its head and embracing volatile and uncertain business environments.
The best type of innovation is a strategic, systemic, human centred & technological lever for developing agile innovation cultures with accountable business management processes and global industry eco-systems.
Black Swans are random and unpredictable events that cannot be anticipated and require us to find new ways of responding and adapting to them, and their impact, when they happen.
Being innovative involves being willing and competent in adapting and in knowing how to think differently. Knowing both how to think analytically and laterally as well as knowing how to think at the critical, creative and associative levels. To see and solve problems and to respond to Black Swan Events and external crises in different ways to transform them into creative ideas and innovative solutions that people value and cherish.
That also means taking advantage of the global entrepreneurship movement. This movement is being powered by governments realizing that entrepreneurship is a vehicle of economic success and prosperity, by organizations realizing that they can harness the collective genius of their people through building an entrepreneurship capability and finally by the rise of new impact investors. Innovation is an enabler of entrepreneurship as well as a way of empowering and enabling people to take control of their lives and manifest their own destiny and economic prosperity.
The advance of digitization enabled largely by the Internet of Things (IoT) has created the connection and sharing of data between digital devices, ranging from household devices and heating systems to automobiles, and even jet engines. This connectivity and the resulting aggregation of data has created entirely new business models and revenue streams, both for start-ups and established companies to leverage existing assets in exciting, profitable new ways.
It also changes the basis of competition as companies can now compete as part of ecosystems. The increasing availability and accessibility to free and low cost online education is encouraging and enabling almost anybody with a desire for learning and a hunger for knowledge to become subject matter experts in their fields.
Innovative entrepreneurs and lean start-ups are proliferating by via the internet of things, always connected mobile devices, cloud computing and via the social media. Especially by the development of Software as a Service (Saas) aimed at improving the quality of lives everywhere.
There are significant changes required as to how we perceive and sense customer’s needs, wants and expectations as they too, adapt and are empowered by the increasing speed and proliferation of choices available in our increasingly connected and digitized world. Their focus is on receiving value that demonstrates that companies understand and empathize with them and support their lifestyle choices.
Noting that customers have never had more control over who they are, what they do, and importantly, what, how and where they buy! Increasing consumer expectations and choices are impacting organizations to become increasingly customer centric through innovative change.
The current wave of globalization has been driven by policies that have opened economies domestically and internationally as a result of many governments adopting free-market economic systems, vastly increasing their own productive potential and creating new opportunities for international trade and investment. Whilst reducing barriers to global trade and negotiating new international agreements to promote trade, in goods and services as well as in investments. This trend allows true connectivity and collaboration to occur.
It encourages anyone, anyplace at any time to develop a cloud-based businesses that leverage and build scale via the application of lean methodologies. Coupled with the speed and pace of technological change, increasing availability of private funding and easing of government infrastructures and compliance factors make it easier for people to initiate low cost, internet based global businesses.
Innovation involves a visionary, strategic and a systemic lever to effect business breakthroughs, changes, competitiveness, growth and value. This enables organizations to prosper and flourish in the age of disruption. Product innovation is the result of a disruptive change mechanism to outperform competitors, and create new markets by creating a demand and improving customers’ experiences.