I wanted to depart from just focusing on extolling innovation within this post – a sort of sound off, of sorts.
It seems in all I keep reading that we are being extorted to disrupt our enterprises before someone else does.
The constant threat of both those known to us and those unknown competitors who can simply raise money based on a disruptive concept, provide a different business model and then attack tomorrow. It is not a comfortable feeling is it?
We are told It is in our ‘complacency’ that we are losing our competitive advantages, even face extinction from these that attack and tear down, replacing it with something different and supposedly better. Did we really need it?
Can we learn to adapt as fast as all that is seemingly coming towards us?
There is so much disruptive power being harnessed that we are all facing an exponentially more complex and challenging environment. Why is there seemingly this determination to tear down many parts of the fabric of our society by challenging institutions, businesses and government structures?
There 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.
The 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.
There 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.
We really do seem to be in a really evolutionary period, with the explosion of change taking place in the post-digital world of cloud, big data, social and interconnected devices.
The discovery of insights from all this embedded intelligence, social activity and data analytics is leading us to realize a potentially significant wave of new innovation opportunities from this digital knowledge.
The question is “are we internally ready for this?” Are our innovation systems and structures able to adapt to a need for exploiting ‘breaking’ opportunities where speed and agility becomes a critical deciding factor to capitalize on breaking commercial advantage by tapping into all these fresh insights?
Is digital technology we see emerging today going to be able to provide the positive tension between rational and randomness that takes place in our innovation activities today?
Will digital begin to dominate our innovation thinking, will we lose this randomness, this spark of human creativity or will it be allowing this to connect multiple strands in new, more exciting ways? How are we going to adjust to the changing way technology will impose itself on our innovation activities and needs?
How will all this Mobile Connectivity, Cloud Computing, Social Media, Crowdsourcing, Internet of Things, Industrialinternet, Big Data, Analytics, 3D Printing and Scanning be presented and managed as a part of successful business scenarios and intertwined with changes of social behavior? Are our existing innovation systems ready for this potentially set of sweeping changes of knowledge inflows and translation, so they can be successfully commercialized into new innovation?
Digital Technology is significantly challenging organizations to re-think and re-equip due to the emergence of big data, smart mobile connectivity, social media, cloud, analytics and the growing commercialization.
These are all driving external technology change, all clearly pointing towards a significant disruption of the existing ways we conduct business internally. So we need to ask “how are we going to take advantage of the potential business transformation?” The issue is how to capitalize and create the value from all this change for innovation and performance enhancement?
***This is the first of a seven part exploratory ‘open thinking’ about digital technology and its potential impact on innovation as we know it today. These will be published daily over the next week. The intent at this stage, is more about raising our thinking on what might need changing or at least re-orientation within our innovation management approaches.***