Digital is the age of creativity and innovation, and creativity is all about connecting the dots.
The effects of an increasingly digitalized world are now reaching into every corner of businesses and every aspect of organizations. Digital is the age of creativity and innovation, creativity is the most wanted trait for digital leaders and professionals today, and innovation is the light every organization is pursuing. Creativity is all about connecting the dots. Which dots shall you connect to strike the digital balance and accelerate digital transformation?
Innovation vs. Rules Innovation is to transform novel ideas and achieve its business value. Innovation is doing something better than it currently is. Hence, it requires a sound and competent understanding of what is currently being done. Innovation is not serendipity, it's a mindset, a process, and the strategic business capability nowadays. From innovation management perspective, should innovators break rules, or does innovation need rules, and how to improve manage innovation effortlessly and improve its success rate?
Strategic Management vs. Operational Management Strategic management as long-term planning requires a vision. In other words, a company needs to define where it wants to be in a decade or two (what's the vision) and how they want to get there (Strategy) and then Operational Management will translate the long-term plans into smaller scale plans to operationalize the move toward the vision.
How to Strike the Right Balance between Agility and Stability? Organizations large or small are on the journey to digital transformation, the paradox is that you need to keep the light on to maintain the stability, but also be adaptive to the changes caused by digital disruption with increasing speed. Hence, many businesses just have to run the bi-modal modes: The industrial speed to do what they always do, and the digital speed by leveraging innovation to experiment the new way to do things. But philosophically and methodologically, what’s the right balance between being quick to adopt new methods and risking them for failing, and sticking with tried and tested ones and risking them becoming obsolete? Or more broadly speaking, how to strike the right balance between agility and stability?
Standardization vs. Innovation? Modern organizations have many hidden paradoxes, for example, customer satisfaction or employee satisfaction, which one comes first? Analytics or intuition, how to make a better decision? Here is another interesting dot connection debate: Standardization vs. Innovation, which one is more important?
Leading Indicator vs. Lagging Indicator? As Drucker well pointed out: “You can only manage what you're measured.” Benchmarking and measuring are both science and art. There are many practical metrics and KPIs, but not every metric is created equal. The concept of leading and lagging indicators, as applied to the Balanced Scorecard, relies on an understanding of the cause-effect relationships between KPIs in the different perspectives. But what’re the differences between leading indicators vs. lagging indicators?
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