Everything, it seems we work towards in business, is for seeking out new value creation, for new growth and wealth creation, for providing improved returns on the investments we have been making and this is where innovation becomes so important.
To achieve this we consciously have to set about the value capture and what contributes to its realization. This is where innovation plays such a vital part. If we don’t build our innovation capital we will certainly have a much harder, perhaps even impossible time of realizing new value.
We are more than likely to just maintain our existing value or see it steadily decline. So a constant focus upon renewal is always needed. Do we consciously do that on a daily basis or just once a year at annual review time?
Value-adding activities need to be central in nearly all of our decisions. The how we can turn our resources into being more productive, more creative is increasingly becoming one our biggest strategic areas of future investment decision.
Our resources are those all-inclusive assets, capabilities and processes that make up the Enterprise. Continue reading “Value realization comes through innovation and our business models.”