Sunday, August 18, 2019

Cultivate a Dynamic Digital Innovation Ecosystem

Organizations need to awaken the ecosystem consciousness, start thinking about ways to innovate, influence, and cultivate a dynamic innovation ecosystem,

Everything is interconnected and the business ecosystem becomes so interdependent and dynamic. Innovation also becomes so complex and has a lot to do with external environment while people tend to focus on internal circumstances. Innovation nowadays is critical for the company’s survival and thriving. Thus, organizations need to awaken the ecosystem consciousness, start thinking about ways to innovate, influence, and cultivate a dynamic innovation ecosystem,

Develop the cross-ecosystem innovation clusters: Digital platforms enabled by efficient apps and collaboration tools break down functional silos, business silos, geographical silos, and even industrial silos, allowing people across the business ecosystem to share knowledge, brainstorm fresh ideas, and co-solve business problems creatively and collaboratively. The traditional large organizations can become more innovative if they can consciously break down the bureaucratic management style and proactively develop the resource-rich innovation hubs and hyperconnected digital cluster across enterprise ecosystems for enabling idea flow and creating synergy for innovation management. The smaller business players can also gain economies of scale of innovation through mass collaboration. There is more flow of creative ideas, the innovation pie actually gets bigger as well. Those innovation clusters morph into larger entities that have sufficiently large internal resources to manage innovation in a structural way.

Innovation is benefiting the widest possible audience within the organizational ecosystem: The digital innovation is more often based on collective effort and customer-centricity. People become the center of innovation management and they are the major focus for innovation process and accomplishment. Highly innovative organizations involve customers and different stakeholders such as channel partners, suppliers, and industry ecosystem participants as active agents, listen to their feedback, involve them in both idea generation and process implementation. The dynamic digital ecosystem can be perceived through the lenses of sociology, psychology, the economics of education, the anthropology of cultures, economics, organizational and communication sciences, poetical science, etc. They are able to expand and scale up innovation practices and effects in the digital ecosystem. With ecosystem involvement, companies will become more open to diverse opinions and feedback, be humbler to listen to customers, be more confident to take the path perhaps no one ever takes before, and be more resilient to failure forward.

Companies are better positioned to engage in multi-industrial collaborations to enforce innovation, especially breakthrough innovations: Digital ecosystem is dynamic, expansive, interdependent, and hyperconnected. Instead of being overly rigidly grouped around a specific function or business, ecosystems draw together mutually supportive companies from multiple industries that collectively seek to create the differentiated value they could not reach alone. A powerful digital platform is open and powerful not only because it allows information exchange and participant involvement, but also because it ensures that inter-dependencies and loyalties between partners are taken into account and build up a strong innovation engine.

The evolution of innovation only exists in open environments or the ecosystem. Today’s technology enables companies to leverage their various environments or ecosystems, to chase innovation, take a holistic approach to develop business-wide innovation capabilities which have many important business elements such as people, system, process, culture, tools, to accelerate innovation performance, continually explore and deliver what the business needs and takes further steps to maximize its full potential.


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