Pace of Innovation – The Ultimate Competitive Advantage

Idea to Value

When we think of a business having a competitive advantage, we still tend to think of traditional economic moats such as a low-cost structure, economies of scale, or perhaps a more intangible moat like a strong brand. Iterative, agile approach.

Agility Levels the Playing Field. Anticipation Changes the Game.

Daniel Burrus

To jump ahead with both confidence and lower risk, you will need more than agility. Agility. Agility serves an important role helping companies react quickly to unforeseen change. The biggest advantage to an agile organization is that they can react faster than their slower competitors. Did the people who came up with the innovative, billion-dollar idea for Uber or Airbnb use agility? Agility without learning to Anticipate has trouble doing that.

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Developing an agile innovation strategy

Idea Drop

Agile project management involves dividing tasks into short phases of work, or ‘sprints’, with continuous reassessment and adaptation of plans. Stemming from the word agile, meaning to move quickly and easily, it is no surprise that such a methodology goes hand in hand with innovation. Yet this discernible link is too often overlooked and it is exactly this refusal to acknowledge the compatibility of innovation and agile processes that frequently leads to innovation failures.

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Times of change: 5 business trends to stay competitive

mjvinnovation

The following five business trends will help you stay competitive. Agile Practices. Agile practices are being used more than ever in organizations of all industries, sizes, and markets. Agile practices are approaches that were created to accelerate and improve quality in application development. Several agile methods and practices can be applied to businesses. Agility. Therefore, business owners and managers must be aware of emerging business trends.

Agile Sprint: how it brings efficiency to your business

mjvinnovation

Agile practices transform business in multiple directions, providing powerful models of product and service creation, project management, and much more. In this article, you will understand what agile practices are, what benefits this approach offers to your company. You’ll also understand how Sprint’s approach, derived from Agile, can boost results. What are Agile Practices. Competitive advantage. More agility. Agile

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Increasing innovation focus on the end-user segments within the energy transition story

Paul Hobcraft

The share of Renewable power is expected to rise to 85% by 2050 (source: Irena 2018 “Global energy transformation report”). How will it be designed and operated, to help in gaining from the new innovative solutions emerging, ones that utilize and deploy decentralized storage, smart grid designs in transmission, in distribution, to advance commercial and industrial solutions that can lead to new energy solutions that provide increased flexibility, agility, and adaptability.

CO-CREATING FUTURE-FIT ORGANISATIONS

ImagineNation

Where, according to the recent Ideascale “Crowd Sourced Innovation Report 2021” “ crowdsourced innovation capabilities have grown and innovation output indicators like implementation rate and time to implement have improved.

Social Networks and Big Data: the best strategy for getting to know your customers

mjvinnovation

The results are reports and indexes that support decision-making processes. Predictive analytics is gaining popularity among marketing, sales, and competitive intelligence analysts, among others, and Big Data has a significant role to play. Agile

How To Drive and Sustain Innovation With Learning and Development Training

IdeaScale

Having a well-strategized innovation strategy is the key to maintaining your company’s competitive advantage. The competition of the rapidly globalizing marketplace expands daily and staying innovative will help your organization stand out from the crowd.

Disruptive Forces Impacting the Insurance Industry in 2021

ITONICS

Despite new challenges that have emerged out of an increasingly complex and volatile competitive landscape, the insurance industry is presented with immense innovation potential. FOR REPORT DOWNLOAD - CLICK.

Parkinson’s Law and the Peter Principle – are they relevant to innovation?

Idea to Value

10 people write 10 reports in 10 hours. If you hire 10 more people how many reports will all 20 people write in the same time? This is why “lean” and “agile” have become buzzwords today. 20, right? Wrong! According to Parkinson’s Law it’s still 10.

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3 Key Tips for Creating a Culture of Innovation through Learning and Development

CMOE

Staying at the forefront of this innovative environment is a key factor in retaining your organization’s competitive edge. Drive Innovation Forward with Top-To-Bottom Agility. Technological innovations in training can develop employees’ flexibility, as well as their agility.

Digital Innovation Units: Recommendations, Trends and Conclusions

Integrative Innovation

As the study is in German only, some of its identified key trends and conclusions are going to be shared subsequently in translated form (quotes from the study report in Italic ). However, giving a program access to a multitude of potential customers and partners can be a key competitive advantage. Infront Consulting and business magazine Capital recently published their second joint annual study (in German) on the Digital Innovation Unit landscape in Germany.

Mapping the customer journey is the top driver for digital transformation

Paul Hobcraft

A recent Altimeter report “ the 2016 State of Digital Transformation ” discusses these problems, along with many others. So that you are aware, the data and insights in this report are based on the input of more than 500 digital transformation strategists and executives who are leading change within their organizations. There is even more of a warning within the report. The report warns even further: Mobile is just the beginning of disruption in the customer journey.

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How To Fail At Cultural Change

The Human Factor

Not exactly what I would call a glowing report card for cultural change. The ability to successfully lead cultural change has become a real competitive advantage and an essential leadership skill. Green Pause-Think-Focus Science of Thinking strategic agility The Human Factor Using Your Brain to WinAccording to the human capital research firm I4CP , more than half of the surveyed companies had recently or are currently undergoing a major cultural change.

Disruptive Forces Impacting the Insurance Industry in 2021

ITONICS

Despite new challenges that have emerged out of an increasingly complex and volatile competitive landscape, the insurance industry is presented with immense innovation potential. FOR REPORT DOWNLOAD - CLICK.

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Becoming Real Innovators

Technology Created

Most companies have a well-rehearsed list of the attributes of successful innovation: brainstorm, think outside the box, fail fast, be agile, follow a lean startup approach, build a minimum viable product, ready fire aim, pivot, etc. Executives want to report measurable results with certainty, otherwise the entire effort is deemed a failure. “They are ill discoverers that think there is no land when they can see nothing but sea.” ― Francis Bacon.

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How To Fail At Cultural Change

The Human Factor

In my previous blog, I noted that 56% of the organizations that participated in a survey by I4CP, a human capital research firm, reported recently or currently undergoing a major cultural change. Not exactly what I would call a glowing report card for cultural change. The ability to successfully lead cultural change has become a real competitive advantage and an essential leadership skill.

Key Innovation Issues for 2016 and Beyond

Integrative Innovation

This requires companies to proactively or reactively innovate their business models in order to remain competitive. The platform environment is mostly characterized by a tension between collboration and competition of the participating companies, often referred to as coopetition. Operating in unpredictable environments relies on an agile organization , following an adaptive, evolutionary and more bottom-up approach, resembling complex adaptive systems, e.g. in biology.

Staffing for growth and innovation

Jeffrey Phillips

This timeframe, of course, depends to some degree on the competition in your market space and the average length of time a product offering is viable before it becomes uninteresting or obsolescent. Where should they report?

How to Enhance Innovation with Learning and Development Training

Innovation in Practice

In findcourses.com’s 2019 L&D report , conversations with practicing L&D professionals revealed that an innovative training strategy translates to innovative business practices. Staying Agile Drives Innovation. But, agility is a two-way street. s 2019 L&D report.

Swimming along a road in a flood of digital transformation

Paul Hobcraft

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. A key need of this digital transformation is going to be asking the question of how can we build in ‘greater agility’ and what is presently stopping us from achieving this.

Your Future Lies in Occupying the Innovation Job and Using the Skills it Provides

Paul Hobcraft

Source: World Economic Forum, Future of Jobs Report 2018. We need to manage reskilling and upskilling to mitigate against both job losses and talent shortages but prepared the future workforce to be more nimble, agile and fluid. First, we have to recognize Human capital is still the most crucial asset of any business—in fact, even in an age of ubiquitous technology, it is human skills, creativity, and capability that will form the competitive edge for any organization.

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Why Are We Making Innovation So Complex?

Paul Hobcraft

While most large companies want to become more agile and innovative, many of them fail to turn this wish into a reality. According to a Deloitte report , 50 percent of companies are undergoing an organizational transformation, yet only 11 percent think they will succeed. We are increasingly facing very different competitive pressures. The report also questions, quite rightly, that having a pipeline theory as too simple.

Coaching For Everyone: Get a Coach, Be a Coach

CMOE

It helps us think more effectively, exchange ideas, and ultimately create a competitive edge with highly skilled and capable talent. People must change and grow for the organization to be competitive and effective, so there is nothing personal about this type of coaching.

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The backdrop of digital transformation and its consequences

Paul Hobcraft

I provided a recent digital transformation report that might help you in planning this digital journey. I wrote a meta report on the recent developments in the digital transformation in late 2016 that was published by Hype. The report was designed to help you to trigger your thinking, and make you aware of multiple challenges and opportunities you may encounter on this journey.

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Defending Europe, including the Brits, on innovation

Paul Hobcraft

I have read recent reports from the WEF, McKinsey, and Deliottes all coming to the defense of Europe. Deloitte had a report or survey that came out on 29th January 2019 called “ Innovation in Europe “ It offers some excellent insights on the state of innovation but I loved their Executive Summary opening: Deloitte asked the question “ what triggers innovation in your company?” There is no denying that Europe is feeling competitive pressure.

The CEO, innovation and cash gaps

Huub Rutten

Joe’s company is listed and he reports on a regular basis about the progress of the company to both the financial markets and his non-executive Board. Of course I also have to report results of the current business, revenue numbers, market share, etc.

The CEO, innovation and cash gaps

Huub Rutten

Joe’s company is listed and he reports on a regular basis about the progress of the company to both the financial markets and his non-executive Board. Of course I also have to report results of the current business, revenue numbers, market share, etc.

The chance to think differently about Ecosystems for Innovation

Paul Hobcraft

Conditions for innovation – we need to develop the ability to ‘sense and respond’ to shifts in markets, from the competition and evaluating these changes in ‘real time’ and we will become far more reliant on data and analytics for this. Ecosystems that ultimately produce new business models rest on a large capacity for agility within the participating organizations.

Low-Touch Economy: what is it and how it can influence your business?

mjvinnovation

Despite the initial challenges, the effects are beneficial: business leaders report increased productivity and savings in time and financial resources, since face-to-face meetings that required international travel and hours of commuting are now online. The cloud call center, for example, is a competitive differential and an innovative means of interaction, improving customer support services and enabling a help desk optimized for high touch customers.

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Innovation That Transforms Us

100%Open

100%Open Spring Union Report. Organisations we’ve worked with – LEGO, Interface, Crisis and many others – have undergone a transformation from inward-looking and competitive to open-minded and collaborative. Adam Timlett, PPL: Agile techniques produce turbulence and transform easier. Given that our Spring Union was hosted on the night before Brexit was supposed to happen we weren’t hopeful of either great numbers or maximum attention!

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If you want your employees at the forefront of innovation, let them fly free

ideas4allinnovation

How can companies be more competitive with what they have? Markets demand agility, but also addressing problems from an innovative and creative perspective; and pause and reflection are needed for this to be possible. As symbolized by the graph, getting the machinery to move with agility requires the cogs to fit together. Flying freely without hindrance is a desire most companies share.

The Role of Data in a successful digital transformation journey

Acuvate

McKinsey Global Institute’s reports suggest that data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result.

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Process Consulting: understand the benefits for your business

mjvinnovation

“Innovation” used to mean the difference between dictating trends in your sector or following the trail of your competition’s success, but today the term refers to a fundamental condition of existence for businesses in the volatile and demanding Digital Age. Remember Agile?

Innovation in Business: 5 Tech Trends to Stay Ahead of the Curve

CMOE

In fact, Gartner’s 2019 CIO Report found that 37% of organizations have implemented AI in some form. The primary benefit of these solutions is agility. The ability to adapt and change quickly is key in modern business—particularly businesses looking to stay ahead of the competition.

Innovators – are you thinking about Ecosystems?

Paul Hobcraft

Conditions for innovation – we need to develop the ability to ‘sense and respond’ to shifts in markets, from the competition and evaluating these changes in ‘real time’ and we will become far more reliant on data and analytics for this. Ecosystems that ultimately produce new business models rest on a large capacity for agility within the participating organizations. Business Ecosystem Trends by Deloitte.

Innovation cannot expand without the 4th Industrial Revolution

Paul Hobcraft

In a recent report, jointly from the World Economic Forum and McKinsey called the “ The Fourth Industrial Revolution and the factories of the future ” t hey made a number of observations. According to a recent Deloitte report: Most manufacturing lines still look a lot the same way they did 10, 20 or even 30 years ago. There is a strategic resistance, there is a lack of organizational agility and still not the level of commitment this is required, driven from the top.

What is innovation, and how can it benefit your company?

mjvinnovation

Sustainable innovation: it helps companies to defend their position in the market and remain competitive. Agile innovation: the ideas are implemented using collaboration and iterative prototype loops. With the adaptability of agile innovation processes, innovations can reach the market and get implemented sooner. ? Competitive factors are continually changing in today’s corporate world.

The importance of Knowledge Management

mjvinnovation

Knowledge Management is the turning point to provide an agile network of experience sharing, strengthening organizational environments, and collaboration. Agility in accessing knowledge. The only way to remain competitive in today’s day and age is to use your data correctly.

Collaboration During Pandemics Through The Modern Digital Workplace

Acuvate

As per recent reports , there are over 170,000+ confirmed across 100+ countries. And new cases are being reported every day! Crisis times like this also demonstrate the competitive advantage a digitally-driven organization can have over the rest.

Contactless 2.0: what is it and how it can influence your business?

mjvinnovation

Despite the initial challenges, the effects are beneficial: business leaders report increased productivity and savings in time and financial resources, since face-to-face meetings that required international travel and hours of commuting are now online. The cloud call center, for example, is a competitive differential and an innovative means of interaction, improving customer support services and enabling a help desk optimized for high touch customers.

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The Case for Dual Innovation

Tim Kastelle

Accenture finds in their recent study that companies need to reassess their approach to innovation execution: Companies need to develop agile innovation operating models that enable companies to not only test new ideas quickly, but also absorb new capabilities and talent from other industries. When executed correctly, these innovations deliver a step-change improvement in organizational performance and competitive advantage.

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