The Digital Flavored Innovation
The Digital “Flavors” of Innovation? Digital innovation has a broader spectrum and the hybrid nature. It comes in the variety of flavors and there are many opportunities in an enterprise to taste it. The companies who get the most from innovation effort have the right ambition, good leadership, and culture quintessential. The purpose of innovation categorization and differentiation is not about separating and siloing these management disciplines but how to best link them together - across focusing on core activities to develop innovation competency and manage a healthy innovation portfolio in a structural way.
The Next Cycle of Digital Innovation Management At the static industrial age, most organizations are focusing on improving margins by reducing the bottom-line cost rather than the top-line growth. For those organizations, innovations are still serendipitous. However, with increasing speed of changes and continuous digital disruptions, businesses today face fiery competitions and rapid digital shift either technologically or economically, innovation is no longer “nice to have,” but must have differentiated business capability. So, serendipity can be planned into innovation management. Forward-looking organizations take an evolutionary approach to manage innovation in a structural way.
The Multidimensional Digital Innovation There is no doubt innovation is becoming more important whereas technology becomes more advanced. Innovation is an exploration, production, adoption, assimilation, and exploitation of value-added novelty in business, economic and social spheres. Innovation is the core activity of human evolution of changing the environment to reach performance for profit, for saving of resources, for the satisfaction of customers, for expediting collective human progress.
Three Factors to Accelerate Digital Innovation There is no doubt innovation is becoming more important whereas technology becomes more advanced in the digital era. In fact, the speed of change is expedited, so does the speed of innovation. Innovation is the core activity of human evolution, to change the environment for advancement; to reach performance for profit, to improve efficiency for saving of resources, to sell products/services for the satisfaction of customers. And digital innovation has a much broader spectrum which includes both hard innovations such as products/services/processes/business model innovations, or soft innovations such as leadership/management/culture/communication innovation. Here are three factors to accelerate the pace of digital innovation.
Three “F” Factors in Digital Innovation Digital transformation represents a break from the past, with a high level of impact and complexity. There is no doubt innovation is becoming more important whereas technology becomes more advanced in the digital era. In fact, the speed of change is expedited, so does the speed of innovation. There are many key factors to lead the success of digital innovations. Here are three “F” factors in digital innovation.
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