Innovation must become your business routine and corporate culture to renew creative energy. Digital innovation has a broader spectrum and the hybrid nature. It comes in the variety of flavors and there are many opportunities in an enterprise to taste it. The companies who get the most from innovation effort have the right ambition, open leadership, and culture quintessential.
Over the past few months I have been spending time with a range of Australian companies, getting to better understand their business models and approaches to innovation. After working with US / European organizations for many years, it’s been refreshing to see the actions and impact of innovation in this market.
Disruptive database technologies have mandated retailers to innovate to keep up with market trends and competition. While this may seem costly, it’s the only way businesses can stay relevant. Project managers are expecting a higher return and lower costs on technology projects.
In this episode of the Innovation Ecosystem podcast, we are joined by Jenny Fielding, Managing Director at Techstars, a global venture capital fund for innovative tech startups. Mark and Jenny discuss her extraordinary success scaling and exiting her first startup in three years, how she moved a legacy organization like BBC into the new digital era by founding BBC Labs, and why infusing corporate and startup culture is so powerful.
Companies once deemed “too big to fail” are increasingly exposed to failure. The threat of disruption is everywhere. Startups are taking on the Goliaths in every market. Scores of malls across the United States are in collapse. Many household brand names are losing ground or even shutting completely. Regardless of industry, businesses face digital Darwinism, the evolution of technology and markets. Disruption is just a matter of when, where and why. To compete, executives must make tough decisions but more so, they must look to new horizons for new insight and direction. Whether companies thrive or cower in the face of digital Darwinism is a choice.
Merck KGaA, Darmstadt, Germany is a leading science and technology company in the sectors of healthcare, life science and performance materials. In this interview, Dr. Christoph Huels, Chief Innovation Officer at Merck KGaA, Darmstadt, Germany, discusses entrepreneurial thinking, strategy, ecosystems and culture in the digital era.
Nearly all executives have acknowledged the relevance of digitization and related trends, such as the Internet of Things, connectivity, and industry 4.0. However, the full impact of digitization has usually not been understood in detail. Moreover, most firms struggle to implement digitization initiatives successfully.
Connectivity, collaboration, sustainability and inclusiveness were the key themes of the opening session of the high-level Leadership Summit, sponsored by TRA, UAE and moderated by Jeremy Wilks of Euronews, media partner of the Leadership Summit.
We are all part of a giant transformation, “digital world is eating up physical world” – enterprise, individual, activity, relationship, emotion, etc., almost every entity around us is getting through some degree of digitization. Michael Wei, Director of Samsung AI research center in the US, discusses the current developments, activities and challenges in artificial intelligence and its part in the digital transformation agenda.
In the new global environment innovation is tending towards Platform Disruption, and is more focused on waves of change than single technology disruptions. The competitive capability of different innovation cultures, rather than technology, therefore becomes the critical success factor. In this article, Haydn Shaughnessy examines product and service platforms as the new organisational form and suggests that modern enterprises need to take the leap to a new way of business.
The Internet has forever changed how we work with innovation. Author Marta Domínguez spent the last five years observing the causes and effects of the digital wave and has gathered a list of 22 impacts on the world and your business.
Digital technologies have transformed the world we live in and innovation processes have been affected dramatically by these approaches and transformations. In this IM Channel One Roundtable Discussion on June 19, 2014 we explored how practitioners and organizations are adapting and/or rethinking their strategies and best practices for the front-end of innovation in presence of new transformational digital technologies.
Six major forces are driving change in today’s world. Developing a successful innovation program requires that your organization understand and master all of them.
Booz&Co wrote in their article “The Social Life of Brands” on Strategy+Business that the value of a brand is linked with the relationships it has with its customers, creating and retaining them. For marketing, its fundamental task is managing these relationships. In a recent research by Gallup the results were striking, a 240 percent boost in performance was achieved when both employees and customers were enaged. This is exactly, in a highly technological driven business environment, digital innovation is the catalyst that improves engagement and provide means to manage relationships better, faster and in a cheaper way though digital.
This is the outcome of IBM’s new survey on the marketing industry. Chief marketing officers (CMO) and chief information officers (CIO) must join forces in order to connect with today’s consumer across new channels including mobile devices and social networks. Sixty percent of marketers point to their lack of alignment with the company’s IT department as the biggest obstacle to reaching today’s consumers.