The enemy is already within. The flood gates are open. Can GE recover?

Managing cash, balancing this out with your liabilities and obligations, knowing your market dynamics, and equally, having a good understanding of where the future growth lies, are all essential for managing any healthy business.

It is then by utilizing robust research and development projects, combined with an acquisition strategy that augments growth, management creates sustainable and evolving business model.

These are the hallmarks of effective leadership. through managing your future development, mostly through research and development, that when combined with a sound acquisition strategy, that you believe will augment your present internal growth, so as to look to sustain the business, longer-term, becomes your contribution as a leader.  These are the bedrock of good corporate management. It seems within GE, all of these have been forgotten or collapsed. Why, I mean how can that have happened?

For a company reputed to have a good management discipline and focus, yet this year, 2017, for GE, it seems all of these are lying in tatters, or some parts will lose out as a consequence, into the future. What has gone wrong at GE?

The last few months have been some of the most shocking ones in GE’s history. GE has been around since 1892 and was one of the corporate titans of the 20th Century. Since the crisis of 2008, GE has been struggling to fully regain its position but all its actions were regarded very highly as “making good progress” as it maintained a relentless momentum of shedding and acquiring operations, as well as pursuing a buying back of its shares, and paying out the beloved GE dividend. This certainly provided a highly dynamic environment for managing the business. There has been a consistent muttering that this was not fast enough or clear enough. Well, GE faces a very different set of realities today.

Today, GE is in a very dark place at this moment. It is managing a full-blown set of crisis, that has investors highly spooked and demanding answers. Its share price is hovering around $17 per share, whereas, in February of this year, it was ranging in the $31- 32 price. Its market valuation, once over $400bn, is now closer to $150bn.

This is a long read, as the story itself is only just emerging and is a complex one. I simply have to step outside my own innovation comfort box to try to get to grips with the breaking GE story. It has shaken me.  I assume you already have some awareness of what is happening in a company that has been held up over so many years, as a model of good management. Continue reading

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Swimming along a road in a flood of digital transformation

swimming-along-the-transformational-roadI am so caught up in transformation, no, actually I am swimming in it. No gentle backstroke for me lapping in the digital transformations that are being written about, this is a hard swim, one I’m not sure I can stay afloat and make headway, yet I must, well actually we all must. We all need to learn to swim along this new digital transformation road.

Recently I was asked to complete a review of digital transformation, to gauge where it presently is, to take a look at the leading emerging practices and ‘professional ‘wisdom’ and turn these insights into a report due out before the end of the year.

There are many innovation implications in this digital transformational journey that hold my increasing attention. For most of this last twelve months I have been increasingly tracking, researching and responding to supporting clients need  about digital transformation, so I was happy to take this on. Little did I realize how this digital transformation has become a flood, a torrent of wisdom, many offerings different, often varying views and advice. Continue reading

Digital transformation – the need to transform our innovation approaches

Digital TransformationBusiness digital transformation, it can certainly get your pulse racing as you start looking for the nearest exit. Digital transformation is being asked of everybody to get involved in but do we have a sufficient understanding of it?

Add in the magic ‘need’ so innovation can benefit from this business digital transformation and we begin to shift around in our chairs even more. What would it mean if we ‘went’ digital and transformed ourselves for innovation within our organisation?

I’ll be honest here, all the answers can’t be distilled here in this one post as digital is all evolving but I thought an opening set of thoughts on ‘digital transformation’ might trigger greater discussion and identification.

So what is a digital transformation?

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So Welcome to the Age of Digital Innovation

New age of innovationDigital technology is about to become the precursor for all the changes we have put off for years within our organizations.

We need to radically improve our abilities to engage, relate and discover new innovation opportunities at a completely different level of faster performance.

There are many issues both strategic and tactical to work through, to extract the rich potential from any digital transformation for new innovation growth outcomes

The final part of a seven part series –  a new dawn or your worst nightmare?’

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The Need to Automate the Innovation Process

New Technology Dawns 6There has always been a consistent call to automate the innovation process. Now it might turn into a stampede, based on real ‘digital’ need.

We have made solid progress in the use of out-of-the box software for capturing ideas at the ‘fuzzy front end.’

We have developed pipelines and use product life cycle software systems to manage this through to commercialisation.

Yet today we still have a fragmented, often broken innovation process, very reliant on the manual processes, where the human intervention dominates. Can this be changed? Technology must form a greater core of the innovation process.

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The need to respond quickly to new business objectives

New Technology Dawns 5The business objectives will change as we invest heavily in digital technologies, as we increasingly recognize and embrace this changing world where digital knowledge and insights begins to challenge and change our existing frameworks of innovation thinking.

Part five of a seven part series

The outcomes of the investment are expected to provide clear returns and these might include but not limited too: 1) different customization of services 2) quicker response to market trends in new offerings 3) identifying real-time cost optimizations, 4) concentrating on faster, more accurate decision-making to give new competitive edges 5) better and more holistic R&D 6) automate even further the supply chain management, 7) alter you approach to channels to market, 8) move your business into new adjacencies or even white spaces and finally 9) design new business models and value propositions.

There will be lots of new moving parts to grapple with to be future innovation agile.

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IT is Struggling to be the Digital Technology Master

New Technology Dawns 4There is so much occurring in new applications and alternative solutions, it is a very tough position for most dealing in technology to truly master all  of these breaking options they might have to consider.

It must be a little overwhelming, when many responsible for IT have for years not had any strategic involvement and not been given clear line-of-business oversight.

Business management equally has over the years built up an ‘arm’s distance’ to IT and found ways to overcome barriers they felt were seemingly put in their way, when it came to ‘bringing in’ the technology they deemed as essential.

Something needs to change going forward. Both the business manager and the IT need to find ways to exchange, collaborate and share. It is in their ‘vested’ interest but more importantly for the future health of the business itself.

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