Part 1 of the “Kick-Starting Innovation” series
Many companies are operating under a grand illusion of innovation. The business may be changing, but efforts rarely deliver on the promise of groundbreaking outcomes. Although highly valued, innovation is in direct competition with demand for predictable, consistent financial results; intolerance for risks and conspicuous failures; and the economic promise of mainstream customers.
For these reasons and many others, it’s futile to ponder whether a company can act fast, run lean, and accept risk. Unless your business is accomplishing this balance (and few are), you can’t operate like a digital startup until you adopt a new approach and mindset to adapt to a world of limitless potential and risk.
How to build a culture of industry-disruptive innovation
New intelligent systems are emerging and growing at an accelerated pace. The Internet of Things, machine learning, artificial intelligence, Big Data, collaboration, cloud computing, predictive analytics, and more are empowering businesses to create business models that open previously untapped revenue streams and wowing customers and employees with better experiences.
While digital adoption is the preferred path to inducing the birth of a new startup, established companies view it as a bridge between today’s operations and tomorrow’s opportunities and demands. But first, the right guidance, skills, and expertise are needed to turn these investments into a significant competitive advantage with a clear understanding of current business problems and the right combination of technologies to solve them.
With a fast, structured approach to digital transformation, companies can manage the complete lifecycle of their digital transformation – without spending significant time, money, and effort upfront.
Four fundamental elements accelerate innovations:
- Showroom: Innovation use cases, the experiences of other companies, and various technology options are explored and assessed in a virtual lab environment to provide food for ideas.
- Digital design zone: Agile and fast, the design process puts the business at the center of every stage of the innovation process. With design thinking and a dedicated innovation coach, organizations can create prototypes and, with this, materialize ideas.
- Empowerment sessions: Remote online training facilitates expert-guided knowledge transfer and serves as a source of inspiration for innovators.
- Innovation platform: Access to a service-enriched cloud platform and ready-to-use technology use cases takes innovation a step further by leveraging business innovation best practices to quickly connect the back end of the prototype.
In essence, the business will benefit from a “try before you decide” opportunity to determine whether the innovation makes sense for the entire company and to accelerate the concept’s transition to production.
An opportunity to redefine your potential for digital innovation
Combining the right tools, technology, and skills in a focused process for delivering change, businesses can kick-start new possibilities for industry-disruptive innovation. Expertise and experimentation in user experience design, business transformation, industry dynamics, and the latest technology provide the actionable insight and know-how needed to develop new applications that are not only functionally sound, but also enable a user experience unlike anything competitors are delivering.
Find out how your business can benefit from unlimited access to a showroom, a set of empowering sessions, and an innovation platform. Read the white paper “Achieve Digital Transformation and Create a System of Ongoing Innovation.”
And don’t forget to check every Monday for new installments to this blog series “Kick-Starting Innovation.” Next week, we’ll explore the concept of showroom-driven innovation.