2. ï Organizations who see & act upon the opportunities
and possibilities for change through innovation in the
current volatile and uncertain, business environment will
not only survive; they will successfully compete and
even flourish in the face of the range of emerging
adverse and fluctuating business and economic
conditions.
ï They will use innovation as a strategic, systemic,
human centred & technological lever for developing
agile innovation cultures, accountable business
management processes and global industry eco-
systems.
ï Doing this will ensure that their people develop the
creative confidence; the self assurance and belief and
the ability to come up with creative ideas and the
courage to try them out, and collaborate to affect the
desired changes in the world around them.
4. THE WORD IS FULL OF PROBLEMS
THAT ARE HARD TO SOLVE AND
ARENâT GOING AWAY
ï Albert Einstein famously said that âwe cannot solve the
problem with the same thinking we used when we
created themâ.
So simple conventional linear planning and problem
solving processes using the same thinking that created
some of these undesirable problems in the first place
arenât not going to result in the visionary, creative ideas
and innovative solutions required to solve them.
ï The first thing about understanding innovation is that it
is, in essence about seeing, perceiving and solving
problems in creative ways! It requires a sense of urgent
passionate purpose and visionary dreaming and
thinking to play with solving wicked problems so as to
improve the quality of people lives and the way we live.
5. ADAPTING TO BLACK SWAN
EVENTS
ï Black Swans are random and unpredictable
events that cannot be anticipated and require us
to find new ways of responding and adapting to
them, and their impact, when they happen.
So being innovative involves being willing and
competent in adapting and in knowing how to
think differently. Knowing both how to think
analytically and laterally as well as knowing how
to think at the critical, creative and associative
levels. To see and solve problems and to
respond to Black Swan Events and external
crises in different ways to transform them into
creative ideas and innovative solutions that
people value and cherish.
6. TAKING ADVANTAGE OF THE GLOBAL
ENTREPRENEURSHIP MOVEMENT
ï Entrepreneurship is becoming a global movement and
entrepreneurship is growing especially in emerging markets, where
China and India are leading the pack and Africa is predicted to be the
next hot spot. There are three particularly âHotâ sectors that include
people who really want to âbothâ take self responsibility for their futures,
by contributing towards making the world a better and more sustainable
place âandâ make a difference via the social, women and youth sectors.
ï This movement is being powered by governments realizing that
entrepreneurship is a vehicle of economic success and prosperity, by
organizations realizing that they can harness the collective genius of
their people through building an entrepreneurship capability and finally
by the rise of new impact investors. Innovation is an enabler of
entrepreneurship as well as a way of empowering and enabling people
to take control of their lives and manifest their own destiny and
economic prosperity.
7. COMPETING VIA BLUE OCEAN POSSIBILITIES
WITH LEAN & AGILE START-UP
METHODOLOGIES
ï In their book Blue Ocean Strategy research
proves that there are no permanently excellent
companies, and that organizations, like people,
all do smart and less smart things. They suggest
that what matters is making smart strategic
moves and that the strategic move that matters
centrally is to create âblue oceansâ of disruptive,
new and uncontested markets.
ï The emerging business paradigm is shifting
towards discovering blue oceans that incorporate
lean and agile start-up methodologies as a way
of innovating businesses to create increased
value for customers that they value and cherish.
8. FLOWING WITH ADVANCES IN
TECHNOLOGY
ï The advance of digitization enabled largely by the internet of
things has created the connection and sharing of data between
digital devices, ranging from household devices and heating
systems to automobiles, and even jet engines. This connectivity
and the resulting aggregation of data is creating entirely new
business models and revenue streams, both for startups and
established companies that leverage existing assets in exciting,
profitable new ways.
ï It also is changing the basis of competition as companies can
now compete as part of ecosystems. The increasing availability
and accessibility to free and low cost online education is
encouraging and enabling almost anybody with a desire for
learning and a hunger for knowledge to become subject matter
experts in their fields.
ï Innovative entrepreneurs and lean start-ups are proliferating by
via the internet of things, always connected mobile devices,
cloud computing and via the social media. Especially by the
development of software applications aimed at improving the
quality of peopleâs minds and lives everywhere.
9. ADAPTING TO CHANGING WORKPLACE
DYNAMICS AND TRENDS
ï As more baby boomers retire and conventional succession
planning processes become obsolete, the ageing
demographic globally is the new tidal wave incurring financial
demands on already exhausted financial systems. Millennials
are also swapping jobs at increasing rates as they seek more
meaningful work, autonomy and equality.
ï Hiring processes are shifting as more recruiters rely on
internet based social processes where âreputationâ is fast
becoming more important to professionals and companies
alike. Freelancing and contracting are becoming a way of life,
meaning that more people are working from home, taking
responsibility for generating their own income and wealth.
ï They are also operating more from co-working and
collaborative work environments. This means they are
networking and teaming to share and gain knowledge, skills
and experience.
These factors are forcing organizations to explore innovative
strategies for enhancing staff engagement, empowerment
and enablement as well as with the acquisition and retention
of the best talent.
10. RESPONDING TO INCREASING CUSTOMER
EXPECTATIONS AND CHOICES
ï There are significant changes required as to how we perceive
and sense customerâs needs, wants and expectations as they
too, adapt to, are empowered by the increasing speed and
proliferation of choices available in our increasingly
connected and digitized world. Their focus is on receiving
value that demonstrates that companies understand and
empathize with them and support their lifestyle choices.
ï Noting that customers have never had more control over who
they are, what they do, and importantly, what, how and where
they buy! Increasing consumer expectations and choices are
impacting organizations to become increasingly customer
centric through innovative change. By using human centered
design to improve the users (our) experience provides
increased value and new ways to create and invent products
and services as well as to execute plans in ways that people
value and cherish.
11. MAXIMIZING GLOBALIZATION
CONNECTIVITY
ï The current wave of globalization has been driven by
policies that have opened economies domestically and
internationally as a result of many governments adopting
free-market economic systems, vastly increasing their own
productive potential and creating new opportunities for
international trade and investment. Whilst reducing barriers
to global trade and negotiating new international
agreements to promote trade, in goods and services as well
as in investments.
ï This trend allows true connectivity and collaboration to
occur. It encourages anyone, anyplace at any time to
develop an internet based business that leverages and
builds scale via the application of lean methodologies.
Coupled with the speed and pace of technological change,
increasing availability of private funding and easing of
government infrastructures and compliance factors make it
easier for people to initiate low cost, internet based global
businesses.
12. CONCLUSION
ï Being passionate and having a sense of urgent necessity
making innovation a visionary and strategic and a systemic
lever to effect business breakthroughs, changes,
competitiveness, growth and value enables organizations to
prosper and flourish in the age of disruption. These
organizations will use innovation as the disruptive change
mechanism to outperform their competitors, and create new
markets by creating improved customersâ experiences.
ï By creating products and services that people value and
cherish, by effectively using technology, by spanning
generational and maximizing demographic diversity and by
creating collaborative, creative and courageous work
environments.
ï This is the new age of innovative entrepreneurs who envision
and co-create new, audacious and abundant blue oceans
who know how to be different, think and act differently to
make the difference they want to make in the world in ways
that people value and cherish.
14. CLOSED-MINDEDNESS
ï At the conference, it was extremely
common to hear a director or VP say,
âThat wonât ever fly at my company.â If I
knew that my employees felt they
couldnât bring up an idea around me, I
would go ahead and fire myself.
Employees spend more time âin the
trenches,â working with the minute
details of your company, so if they come
up with a radical innovation, listen! It
could end up saving huge amounts of
15. TRADITIONS
ï Past results should never be used to
predict future success. New
technology and lower barriers to entry
have created a cluttered playing field,
so itâs important to stay ahead of the
curve. Keep your traditions if you
want, but combine them with visions
that will prepare you for an ever-
changing future.
16. JEALOUSY
ï Business is a world of politics and
jealousy. The best leaders and
employees put this B.S. to the side and
support the people around them. If an
employee brings an innovative idea to
you, donât shoot it down just because the
idea wasnât yours. The best leaders try to
hire people who are better than them, so
it makes sense that your employees will
come up with some innovations that you
havenât thought of yet.
17. MONEY
ï Innovation is expensive. Research and
development budgets can eat up a lot of
cash flow and present a level of risk that
other line items donât have. That doesnât
mean that you shouldnât look into and
evaluate the risk and reward of each
initiative. If thereâs enough evidence that
a risk is worth taking, then go ahead and
loosen up the purse strings. It can be the
difference between staying ahead of the
curve and seeing your company fail.
18. GENERATIONAL DIFFERENCES/AGE
ï There seemed to be a big age barrier at
the conference, with the younger crowd
grumbling that older leaders would never
listen to their new ideas. Generational
barriers are hard to overcome, but they
need to be addressed and removed.
Older people can be just as innovative
as (and sometimes more innovative
than) a young buck out of college. There
is no excuse for any age to not listen to
â and evaluate â a creative idea.
19. COMMUNICATION
ï Communication is essential when
presenting an innovative idea. Too
often, the innovative ideas come from
the âcrazy personâ in the office
who always has a new idea.
Encourage employees to present
ideas in a concise way that makes it
easier for others to understand. Poor
communication and âflying by the seat
of your pantsâ can lead to the failure of
a great innovation.
20. SIZE
ï Itâs easier to steer a dinghy than a
cruise liner, but that doesnât mean the
cruise liner canât turn. Itâs natural to
think your company canât change
course because of its size. In reality, if
you donât encourage your employees
to innovate, smaller companies in your
industry will win in the long run (and
you may crash into an iceberg).
21. EDUCATION
ï After I left the conference, it was
interesting to talk with friends in New
York who didnât attend. It was common to
hear that their leaders werenât making
efforts to educate them on future trends.
A leader is responsible for not only
encouraging innovation, but also
educating. Make sure your budget
includes a conference, speaker, or
activity to get the âcreative juicesâ flowing
to spark employee motivation.
22. THOUGHT LEADERSHIP
ï Thought leadership is becoming a
stronger requirement for proper
leadership. Some leaders hold back
because they donât want to seem
egotistical â or theyâre just being lazy.
One of the biggest factors to becoming a
great thought leader is contributing to
credible sources of information about
your industry. If you arenât doing this,
then your employees wonât be as
inspired to mimic your sense of
innovation or create their own.
23. RESOURCES
ï âWe donât have the capacity or bandwidth for something
like thatâ is a common excuse people trot out when
theyâre presented with an innovative idea. You can find
the capacity by bringing on new employees or
redirecting resources if the right idea comes along. If
you remove this barrier, you will more carefully consider
whatâs possible.
ï Itâs not a must to take on every idea that comes from
your employees (some can be downright crazy).
However, you should create an environment where
people are consistently encouraged to come up with
innovative ideas. Always keep an open mind and
evaluate these ideas when they come to you; many
company success stories that I heard at Innovation
Uncensored wouldnât have happened with the barriers
listed above. Iâm hoping company leaders catch this
article and welcome their employees back with an open
mind about what theyâve learned.