Real Management Applications of Big Data
Big Data has had a big impact on the competitive landscape. Businesses that have embraced this explosive technology of digital media are better positioned to market faster with products and services that satisfy customers' needs adequately. Wise management of time is very critical in staying ahead of the competition. Utilizing Big Data solutions in processing digital data is one way of enabling managers or organizations and business owners to make quick, informed decisions that streamline efficient business operations. Here is an analysis of some of the real management applications of Big Data:
Implementation is Your New Competitive Advantage
When it comes to implementation there are three things that companies ought to be thinking about in order to maintain a competitive advantage: process, feedback, and the importance of having multiple stakeholders from the beginning. Learn more in this Open Innovation Guide from IdeaScale.
Innovation Lessons from Rome’s Greatest Enemy
What innovation lessons can we learn from Hannibal, one of history’s most illustrious generals? In this piece based on a chapter from Paul Sloane’s ‘Think like an Innovator’, we’ll look at how Hannibal’s battle strategies and tactics can apply to innovation today - from using new and unexpected resources, to outflanking your competition, to understanding the importance of networking.
How Does your Business Stand to Benefit from Big Data?
Big data is becoming increasingly vital to business scaling and competition. In this article, we’ll introduce you to the three V’s of big data - volume, velocity, and variety - and discuss the many ways your company can benefit from incorporating big data into decision making, product development, audience analysis, and much more.
Using Design Thinking to make your employees ready for the Internet-of-Things
Recent advances in technology put Internet-of-things (IoT)-innovation on top of the management agenda across industries. It is predicted to increase economic value by $11.1 trillion in 2025 (McKinsey 2015). The Service Science Factory and Noventum collaborated on this article to present a state-of-the art view on the Internet of Things and how to implement this vision within organizations.
Are Corporate Innovation Centers The Last Hope for Companies Too Big To Fail?
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.
Picking the Right Stakeholders for Open Innovation
What external stakeholder groups can you tap into to build value for your innovation initiatives? Are your relationships with these external stakeholder groups solid or do you need to do additional work to build good, mutually beneficial working relationships? Are there potential stakeholder groups that you have not yet tapped at all? If so, what is your plan for reaching out to organizations within these pools so that you can further expand your innovation ecosystem? Are your channels for communicating with your external stakeholders strong or do they need further work?
Digital or Dead – An Expert Study
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.
Tech Employees on the Move
Talent Management provider DeepTalent has just released a new report showing to which companies employees of the biggest tech companies are going to.
Leap Innovation: a Strategy to Get Ahead and Stay Relevant
The importance of innovation for organizations to remain competitive is widely discussed and well accepted by scholars and practicing managers. However, failures in innovation attempts are quite common and raise many questions. Why do firms with innovative products fail? Does market acceptance of innovations alone guarantee continuous success? Is it innovation strategy that can ensure long-term prosperity? One can argue that it is not only how to innovate that matters, but also where, what and when to innovate that make the difference.
The Dynamism in Chinese Ecosystems and Platforms
Today we have to “think China” when it comes to looking for the dynamism within Ecosystems and Platforms. They are leading, exploring and extending the thinking beyond our more limited ambitions in the West. It is the environmental conditions coming together or being explored and exploited that make China stand out in its dynamism in this area.
Building An Industry-Leading Innovation Engine with Trish Malarkey
Trish Malarkey is the Head of Research and Development at Syngenta, a company that has become a global leader in agribusiness by bringing farmers improved crop solutions. Trish has extensive technical knowledge in biology, chemistry, and biotechnology. Combining her expertise with her leadership position at Syngenta, Trish offers highly valuable insights that are both unique and eye-opening. Discover how to manage and create an innovative environment for a talented team of scientists on this week’s episode.
The Global Competitiveness Report 2016–2017
The Global Competitiveness Report assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity. Switzerland, Singapore and the United States remain the three world’s most competitive economies.
What your Definition of Innovation Says about Your Company
In a field centered around fresh, outside-the-box thinking, it is no wonder that there is such a broad range of definitions for the term innovation. Creating a clear-cut definition for the term is critical in shaping the culture of innovation at your organization and will help you determine which resources to allocate to your program.
Multi-tasking – The Challenge of Intermediaries in SME Support for Innovation
In view of creating more competitive regions and industry sectors, innovation capabilities of SMEs play a central role. SMEs are strong economic drivers in many countries, and their ability to innovate will determine the health of national and regional economies in the future. A key support for SMEs in their innovation efforts are public innovation support programmes.
5 Reasons Why Your Company Should Innovate
Over the last few years, innovation has become a ubiquitous branding tool. Whether you are a blue-chip company or a local start-up, innovation has entered the everyday lexicon of CEOs and administrative staff. Compared to prior marketing trends, innovation is not a passive buzzword—it is critical to the success of your company.
Platform Disruption Wave
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.
What Effect has Digital Innovation had on the World and your 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.
A Strategy that Requires Innovation
Every executive knows that their teams should be more nimble, should be operating at a higher speed, and should be innovating. But these are all discrete capabilities, not necessarily in service to any greater strategy, and in fact much of what passes for strategy doesn’t understand how to take advantage of these capabilities. In this article, the authors describe the Maneuver Strategy from the new book, Outmaneuver. This strategy relies on innovation to achieve its goals, rather than accommodating innovation when it must.
Brand Relevancy: Brainstorming Your Way to Business Innovation and Growth
Running a business is tough, no matter what industry you're in. Retaining loyal customers and remaining relevant are some of the biggest challenges faced by today's business owners. Fortunately, you're not alone and your company is not the first to navigate these waters.
Navigating the Make versus Buy Decision: A Crowd Sourced Check List
Product managers facing the make versus buy decision for their organization have a lot to consider. Biases abound. In this article, the innovation architect Doug Collins shares what was on the minds of senior product management leaders on this topic when they convened, recently. Their top 10 factors follow below.
Unlocking Innovation in Business
85% of UK workers believe the strategic objectives of their employers could more easily be met through innovative approaches. Fortunately, the innovation discussion in business is progressing. Yet although most organisations acknowledge the desperate need for change, they are still at a loss when it comes to taking action. Workforces are a goldmine for the insight needed to drive change in an increasingly competitive business environment - but this knowledge must be captured to unlock innovation.
Market Mapping for Sustainable Growth
In this chapter excerpt from The Innovation Formula Langdon Morris explains how to use a map to help you locate your company in the market, to see clearly how it compares with the competition, and then to use this assessment to chart a future path toward success. The goal is to find the very best high reward, low-risk ideas that will change the market, amplify your profits, increase your relevance, and sustain your organization’s viability over the long term.
Do You Really Want Disruptive Innovation?
What company wouldn’t want to come out with the next iPhone, online bookstore or Swiffer mop? In the right circumstances disruptive innovation can be a valid path to drive the long-term survival and growth of a mature organization. But Anthony Ferrier argues that most companies are not in that environment. They talk (a lot) about pursuing disruptive innovation, but the reality is that they don’t really want, or are able, to support it.