Developing world-class insight and global foresight requires holistic thinking, strategic reasoning, systems understanding, and forecasting capability.
The value-based management needs to be driven by concepts like multidimensional collaborative value or collective advantage and multi-layer ROIs. All these create business value; the key is agreement, in the end, the goal and deliverables.
To achieve this, several key steps can be taken:
-Foster Openness and Collaboration: Encourage the sharing of knowledge and ideas, rather than keeping them secret. This allows others to build upon existing work and accelerates the overall advancement of knowledge.
-Embrace Diversity: Promote an environment where contributions are evaluated based on merit, irrespective of personal characteristics such as race, gender, or nationality.
-Apply Objective Criteria: Evaluate contributions based on their accuracy and efficiency compared to existing methods.
-Challenge Traditional Practices: Encourage a culture where common beliefs are open to scrutiny and challenge, rather than relying on authority or traditional beliefs.
Use the eliminate-reduce-raise-create grid to identify areas for improvement and innovation.
-Eliminate: Remove factors that are no longer relevant or cost-effective.
-Reduce: Lower the standards of factors that are not essential to adding value to customers.
-Raise: Enhance key factors that add significant value to products or services.
-Create: Introduce new features that have never been offered in the industry to generate fresh demand.
Digital innovation has a broader spectrum with the right mix of incremental innovation and radical innovation. The variety of innovation portfolio is to build a varying set of unique business competencies. By adhering to these principles, organizations can effectively translate their vision into tangible value, driving innovation and progress on a global scale. Problem-solving at the global scope requires a mindset with curiosity, inclusiveness, intellectual sophistication, and cultural empathy etc. Developing world-class insight and global foresight requires holistic thinking, strategic reasoning, systems understanding, and forecasting capability.
0 comments:
Post a Comment