This paper was originally published on smartinsights.com, the 11th of September, 2018. Republished here with permission from the author.
Technological changes are one of the leading advocators to shape customer value. They are characterized by a process of social technological variations, rooted in different disciplines e.g., economics, sociology, and psychology.
It isn’t exactly easy to succeed in innovation. The vast majority of innovation attempts seem to fail and a mere 6% of executives are satisfied in their innovation performance, despite innovation generally being considered as very important for the future of their organization.
In Brussels, the Research & Innovation Program Horizon Europe (FP9) is the talk of ‘EU town’. Horizon Europe is hoped to be the great leap forward of Europe to close the innovation gap to the US and stay ahead of the emerging innovation giant China in the coming years.
The increased focus of mature organizations in developing a more innovative culture and set of actions is a crucial opportunity for HR / Talent leaders to play a leadership role. This whitepaper examines a range of actions that HR / Talent leaders can take to drive this strategic imperative.
In the past 12 months, there has been a concerted push to foster a more experimental and autonomous workforce within mature, corporate organizations. This is impacting how innovation professionals operate, drive value, and ultimately succeed in their own careers.
A business plan is at the heart of every business. But instead of just writing down your business plan, your startup’s business model will require proper validation before you start doing business. If you don’t validate it, the investor simply won’t invest. You can validate your business model through three core assumptions: delivering, creating and capturing value.
Disruptive ideas don’t just happen - they must be championed. In doing so, intrapreneurs must address two fundamental truths when leading big idea innovation: that of value creation and that of persuasive communication. If you want to learn how to scale innovation across your enterprise and create a disciplined approach for creating market-changing ideas, One Hour Innovator is a great place to start.
Sustainability is one of the key emerging trends in recent years. But much like innovation, it is a maturing discipline with few established business practices and lots of evolving methodologies. Sustainability champions at organizations often face the same challenges that innovation champions do: lack of senior level buy-in, lack of process, lack of resources. The benefits of successful sustainability and successful innovation are similar, as well: a competitive advantage, improved profit margins, and better brand sentiment from employees and customers.
The keyword “Industry 4.0” is no longer an empty cliché or a black box; it is currently probably the most important topic within the German economy. Not only will existing processes be revolutionized – but also new businesses and business models will arise. More and more companies have already started to tap into its potential.
What do non-consumption, organizational friction and market failure have in common? These days, everyone is “innovating” to find the next big thing. But where do you start? One way is to try and think of innovation as having mass, and therefore it cannot be created from truly nothing. Innovation must start somewhere, and it must start with something that already exists.
As more companies examine employee-focused innovation training efforts, this article offers some crucial tips to ensure the long-term success associated with this important task.
Incumbents. Everyone who isn’t one hates them and if they don’t already tease you enough from their ivory towers you just know that their lazy overpaid salesman is playing golf somewhere waiting for orders to drop into his inbox before he goes to the nineteenth hole. So how will your sales teams topple the golfer?
A new trend in business and product development is ‘co-creation’. By its very name it implies a collaboration between the company and some other entity. In this case it is the consumer who partners in the creation of value. The term ‘co-creation’ is not new, however, but is now receiving more attention - driven largely through the increasing use of the Internet and social media websites - as companies endeavour to differentiate themselves from the competition.
The Experience Economy is accelerated by the current global crisis according to Joe Pine. People don’t want more stuff, in this post-growth global economy people start questioning what they really value and that is experiences with others, loved ones, colleagues, friends, etc. There’s more demand for experiences and this will create job opportunities, moreover because commoditized services are being outsourced and offshored.
Merely focusing on customers will not lead to groundbreaking changes in your business model. Instead, opportunities for business model innovation arise when focus is shifted to value creation for non-customers.