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. And that is of course a difficult challenge to solve.

Rediscovering sustainable competitive advantage

The Future Shapers

Sustainable competitive advantage? Most business leaders I talk to agree that the days of sustainable competitive advantage are over. The reason our search for sustainable competitive advantage is becoming increasingly elusive, is that we’re looking in the wrong places. The way to change that, of course, to intentionally design management models and give the work of management as much careful thought as we give to business models. Seriously? In our time?

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Improve Leadership Skills Today with Supervisor Courses [Online and Offline]

CMOE

Although it is difficult to replace the value of live, facilitator-led supervisor-development programs, digital or online supervisor training courses and blended solutions are good alternatives that can equip supervisors with the vital skills and knowledge they need so they feel confident in their ability to lead others and maximize the potential of the workforce. In some situations, online supervisor training courses can be more cost-effective for an organization.

Strategic Drift: How to avoid losing competitive advantage

Cascade Strategy

Of course, hindsight is 20/20 and it’s much easier to understand trends 10 years after the fact, we've already written about some of the worst business strategies in another article. But their failure wasn’t overnight, management knew that digital photography represented a serious threat to their existing business and neglected the reality of their environment until they lost most, if not all, of their competitive advantage. What is strategic drift?

Make Digital Disruption Your Biggest Competitive Advantage

Daniel Burrus

The basic thinking is that people don’t like change — which is, of course, untrue. By digitally disrupting ourselves instead of passively, reactively waiting for it to happen, we can make disruption our biggest competitive advantage — leading the way for personal, business and industrial innovation instead of trying to keep up with the pack in some middling effort to survive. Anticipating the future Innovation Competitive Advantage Daniel Burrus Digital Disruption

Gaining a Competitive Edge Through eLearning by Costa

CMOE

As eLearning becomes more popular as an alternative to traditional instructor-led training, organizations have a plethora of off-the-shelf courses to choose from. Such courses offer a cost-effective and easy way for organizations to venture into the realm of eLearning. aliCustom course development enables organizations to align their learning initiatives and develop learning content that addresses the most pressing needs of your business.

Brief Clip from The Great Courses lecture series on Competitive Strategy

Michael Roberto

competitive positioning straddling strategy

Top 10 short-term online innovation management courses

hackerearth

Why take a course on innovation? List of courses. This is a round-up of short-term online courses for decision-makers who oversee driving innovation in their respective organizations. These courses guide you in gaining more insights about how innovation strategies and skills accelerate the operational efficiency and competitiveness in organizations. Course duration : 9 weeks. Course highlights. Course duration: 2 weeks. Course highlights.

Understanding the trajectory of the competitive landscape

Mike Shipulski

If you want to gain ground on your competition you’ve first got to know where things stand. If you stay the course, this is where your portfolio will add mass. With this addition you have glimpse into the stay-the-course future. But will they stay the course? Then, compare yours with theirs and you’ll know what the competitive landscape will look like in three years. Where are their advantages? Where are your advantages? Where is there parity?

Think Your Company’s Pursuit of Innovation has Run its Course? Think Again…

Qmarkets

But it’s this mindset which must change in order for companies to maintain a competitive edge and fight disruption. Of course, the terminology here is not clean-cut – overconfidence can sometimes be a good thing, if it encourages someone to persevere against the odds to achieve their dreams, and skepticism can sometimes be bad, if it discourages someone from following their dreams to begin with.

Why Building a Culture of Innovation is your Competitive Advantage

Wazoku

It’s perhaps safe to say, therefore, that they’ve mastered the art of innovating to derive a competitive advantage. Indeed, it may be why the research still suggests that over 40% of senior executives still don’t recognise innovation as a form of competitive advantage or as a value builder for organisations. The post Why Building a Culture of Innovation is your Competitive Advantage appeared first on Wazoku.

The Effect of Competition on Creativity

Michael Roberto

Source: Pixabay Daniel Gross has published an interesting NBER working paper titled, "Creativity under fire: The effects of competition on creative production. Gross writes the following in describing his key findings: This paper studies the incentive effects of competition on individuals’ creative output, exploiting a unique field setting where creative activity and competition can be precisely measured and related: tournaments for the design of commercial logos and branding.

Crowdsourcing with the Competition: Rewarding Venture or Precarious Proposition?

Qmarkets

Why your company needs to think about crowdsourcing with the competition…. Understandably, the increase in competition and market saturation is seen by those who experience it as a direct threat to their organizational legitimacy. Read on to discover why forward-thinking companies are collaborating with the competition and to decide whether this is something your company should also be considering. Of course, there are well-founded concerns too.

Think Your Company’s Pursuit of Innovation has Run its Course? Think Again…

Qmarkets

But it’s this mindset which must change in order for companies to maintain a competitive edge and fight disruption. Of course, the terminology here is not clean-cut – overconfidence can sometimes be a good thing, if it encourages someone to persevere against the odds to achieve their dreams, and skepticism can sometimes be bad, if it discourages someone from following their dreams to begin with.

Crowdsourcing with the Competition: Rewarding Venture or Precarious Proposition?

Qmarkets

Why your company needs to think about crowdsourcing with the competition…. Understandably, the increase in competition and market saturation is seen by those who experience it as a direct threat to their organizational legitimacy. Read on to discover why forward-thinking companies are collaborating with the competition and to decide whether this is something your company should also be considering. Of course, there are well-founded concerns too.

All Work and No Play May Not Help Your Bottom Line

Daniel Burrus

Of course! Competition: The term “gamification” is mutually exclusive with competition, and it is why consumers are drawn to products like the aforementioned Peloton; they are naturally competitive.

The Human Factor: Digital Connectivity Still Needs a Human Touch

Daniel Burrus

Of course! We live in an amazing era of technology-driven transformation that’s redefining how we sell, market, communicate, collaborate, innovate, train, and educate—all in an amazingly short period of time.

Competitive Rivalry Increases Risk-Taking Behavior

Michael Roberto

Intuitively, many of us probably believe that heated competition with a rival increases our propensity to take risks. Manning and the Colts, of course, were huge rivals of the Patriots in those years. Sometimes, it involves creative choices spurred by competitive rivalry. In this case, competitive rivalry may have led to innovation, to a beneficial form of risk-taking behavior. In sum, the study confirms that competitive rivalry increases our propensity to take risk.

Create the future

The Future Shapers

They are complementary and liberating, allowing us to take control and set our own course of action. Competitive Advantage Innovation Management Innovation Strategy

Five Questions that Spur Innovation in the Workplace

IdeaScale

There are many more questions you can ask, of course. Best Practice Competition data product trendsA smart look at hard data can yield brilliant innovation. Any type of innovation can be traced back to a simple question of some sort. More often than not, that question boils down to “Why?” But just like “coffee” describes a host of different flavors, colors, and styles, it’s how, precisely, you ask “why?” ” that matters to innovation strategy.

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4 Ways to Promote Innovation Without Crowdsourcing

IdeaScale

You can still use them for that, of course, but micro plane manufacturers quickly discovered home cooks were using their rasps as more effective, precise graters, so they began putting their products in kitchen stores. Follow The Competition. Best Practice Competition employee ideas experimentation Innovation listen to customersThe crowd you source from doesn’t have to be outside the company. Crowdsourcing is just one facet of innovation strategy.

Why the ‘streaming wars’ aren’t anything of the sort…

The Future Shapers

Streaming Video On Demand (SVOD) and specifically the subscription streaming services offered by Netflix and Amazon Prime are entering an era of increased competition, with the launch of Disney+, Apple TV+, HBO Max , BritBox (plus the many smaller, niche-oriented streaming services, like The Criterion Channel or BFI player). Much of the general media and trade news coverage has lumped discussion of this rising competition under the banner of ‘streaming wars’.

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What Is Business Intelligence?

Collective Innovation

This can include information about the company internally, customer information, market information, sales velocity, competitive information and numerous other metrics. Anything that can help illustrate what the impact of a new course or product may be. Knowing your company can also involve getting a wider view of opinions when charting a new course and how much support certain decision have.

How Apple created two giants

Matthew Griffin

There are, of course, a number of ways that organisations can divest these operations in a way that boosts their overall average margins. Many bystanders are more likely to view these two giants emergence onto the global stage as business evolution rather revolution and while Samsung declared their competitive intentions in 2008 Foxconn has only recently reached the starting line of its long journey. __. Click & Connect with Matthew: LinkedIn . mgriffin_uk . +44

Thoughts on Selling

Mike Shipulski

When – ready, sell, listen – has run its course, try – ready, listen, sell. Authentic Seeing Things As They Are Selling Trust Competitiveness Problems SuccessLike most things, selling is about people. The hard sell has nothing to do with selling. Just when you think you’re having the least influence, you’re having the most. Regardless of how politely it’s asked, “How many do you want?” isn’t selling.

The Death of Consumer car insurance

Matthew Griffin

Of course you’re only going to be liable for something if you cause an accident so it naturally stands to reason that if you can eliminate the word ‘If’ then you might very well be able to eliminate your need to buy insurance. You and I probably agree that spending thousands of pounds every year to buy insurance is one of life’s great pleasures, there’s no noise as exciting as a bill hitting the mat – then again maybe it’s just me.

The rise and rise of Entrepreneurs

Matthew Griffin

Typically there are two groups that will be looking to disrupt your business – competitive corporations, either from within or from outside of your current industry and Entrepreneurs. The secret of course is that you need to always be on guard, spot disruption early and begin turning your business as soon as you can and today speed is the currency of business. “When people come together with a common purpose anything is possible.

Have the Banks already been Disrupted?

Matthew Griffin

On the one hand you have a growing apathy and disenchantment towards the banks which of course hasn’t been helped by the recent LIBOR, PPI, Forex or Bank Charge scandals. Business Models Competition Disruptive Innovation Entrepreneurship Ideation Innovation Open Innovation Product Developments Start Ups Venture Capital banking business strategy cio disruption disruptive innovation fintech

Becoming Real Innovators

Technology Created

What can get companies over the hump from knowing that they should innovate and from knowing the constituent skills that comprise innovation to being companies where innovation happens as a matter of course? Clearly, answering this question is an area of differing opinion and knowing “the answer” of course is a fool’s errand. Why isn’t it deeply bred into the company’s culture where innovation would happen as a matter of course? Of course, it almost never happens that way.

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Fly, Crash, Adapt

Destination Innovation

This motivated him to enter the Kremer competition which offered a reward for the first human-powered flight. Different British teams had achieved limited success with distance but struggled to steer their craft around the course. Paul MacCready.

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Unforced Errors & Competiive Rivalry

Michael Roberto

What can we learn from these types of intense rivalries in sports, and how can they help us understand competitive dynamics in the world of business? Sivanathan has studied tennis and chess players, and he's found something quite interesting about how competition affects their behavior. Of course, there's much more to the Boeing story than this type of unforced error effect, but it is an interesting causal factor. chess competition golf rivalry strategy tennis

20 Inspirational Business Process Improvement Quotes

Kainexus

Of course, we know that continuous improvement and innovation are requirements for success in today’s hyper-competitive environment. Of course, you can invent your own, but we’ve found some quotes from business leaders and others that might do quite nicely. Let’s be honest, it can be difficult to get people excited about the subject of business process improvement. The phrase itself has no personality, no flair.

Thinking about innovation and strategy

Jeffrey Phillips

Of course, innovation can span a range of impacts and outcomes, from very incremental product innovation to industry changing business model innovation. I've been asked several times lately to write about, or perhaps more specifically, to opine about, innovation strategy.

Top 10 Techniques for Encouraging Workplace Innovation

Kainexus

Innovation in the workplace not only helps companies stay competitive and profitable, but they are also happier workplaces , with consistently higher results in terms of employee satisfaction and retention.

Established companies must be startups, and vice versa.

Mike Shipulski

The competition is ever-improving, the economy is ever-changing and the planet is ever-warming. Unless, of course, if the environment changes or the business model runs out of gas. Authentic Complexity Culture How To Innovation Manufacturing Competitiveness New Normal Seeing Things As They Are The Future Product Development Engine Trust-based approach

Forever 21's Possible Bankruptcy: Why Copying Zara is Difficult

Michael Roberto

Of course, Zara too has had to adapt to a changing world that makes life difficult on retailers heavily reliant on brick-and-mortar stores. competition Forever 21 retail strategy ZaraSource: USA Today CNBC reported yesterday that apparel retailer Forever 21 is preparing for a bankruptcy filin g. News reports emphasize the challenges that brick and mortar retailers are facing these days.

Podcast S2E39: Bem Le Hunte – How we need to innovate our university education system

Idea to Value

Bem is the founding course director for the Bachelors of Creative Intelligence and Innovation at the University of Technology Sydney. We need to teach collaboration rather than competition. In today’s episode, we speak with Bem Le Hunte about her interesting new university curriculum designed to enhance the creativity and innovativeness of her students.

System 141

Do We Actually Want Some Dissatisfied Employees?

Michael Roberto

Of course, what you do not want are naysayers who simply look for all the reasons a new idea won't work. You would like people who are looking broadly for potential threats to a firm's competitive advantage and are protecting against complacency. competitive advantage employee satisfaction paranoia threats[link] MIT researcher George Westerman has written a provocative post on the MIT Sloan Management Review website.

Wrong Diagnosis means Wrong Remedy

Destination Innovation

There may have been a completely different reason why sales declined – like competition or seasonal factors. They and more are covered in detail in this online training course. We tend to revere our clinicians as towering experts in their fields. So how often do you think doctors misdiagnose? How often might your doctor tell you that you have some illness or condition, but it’s not right?

Amazon: No Need to Disclose (yet)

Michael Roberto

She writes, Companies, of course, would prefer to reveal as little as possible. For now, though, Amazon gains a key competitive advantage through its limited disclosure policy. Amazon competitive advantage disclosure strategyShira Ovide has a terrific article for Bloomberg BusinessWeek titled, "Amazon Takes Secrecy to a Comic Extreme." And then there's Amazon.com Inc., which takes financial disclosure stinginess to the next level. So far, investors have been fine with it.

Comment on To Fee or Not To Fee…That is the Question by sshapiro

Stephen Shapiro

I particularly like what you said about losing deals to low/no cost competition. Of course we do lose work to them. Thanks David. That’s always a fact of life. Apple loses iPhone sales to flip phones. But that doesn’t mean the consumer gets the same value. And it doesn’t mean that Apple really lost a sale because they weren’t their right buyer. And yes, we need to innovation conference experiences.

How to Keep Your Creative Team Fresh & Inspired

IdeaScale

Encourage Both Cooperation And Competition. As long as it’s friendly, competition is no bad thing, and encouraging friendly competition is a good way to get ideas. Think of creativity like changing the course of a mighty river; it’s a lot easier to gently guide it towards a direction on the horizon than force it to make a sharp turn it may not want to head in. Creativity is about more than just art.

I don't want to live in a Ready Player One world

Jeffrey Phillips

The software ideas are of course almost infinitely scalable, while consulting is somewhat scalable. Now, of course, consulting is shifting its business model, looking for revenue streams outside of the billable hour because the model is no longer deemed scalable.