Today’s technology enables companies to leverage their various environments, or ecosystems, to pursue innovation and accelerate performance.
A business case provides the description and reason for starting a strategic initiative. What are the key drivers behind this initiative? What problem or event is driving the need for such an initiative? What impact are these problems currently having, either to the organization or the community? What immediacy does this problem or event have and why does it need to be addressed now? How to assess the strategic value such business initiatives can create to improve organizational competency?
Level of contribution to innovation excellence: Innovation is the development of a new combination of available resources, in a way that solves problems alternatively. There are many ways to differentiate and, therefore, there are many ways to pursue innovation. Without the right people, excellence cannot be achieved. Human capital makes or breaks a company, therefore should be given highest priority. To move forward from information robustness to innovation excellence, cross-pollinating ideas, cross-functional collaboration and knowledge sharing are what spur innovation.
Innovation is to transform novel ideas and achieve its business value. How deeply your understanding is based on the mindset, logic, lenses, and methodology you leverage to interpret things and connect dots to spark creativity. It is only after the ideas are implemented that they become innovations. Innovation excellence is a journey which involves a lot of tests, trials, obstacles, roadblocks, etc. How an organization orchestrates to generate ideas, manages the activities, measures the results, etc, is determined by how that organization has decided to craft the innovation effort; as well as overall capacities to reach the higher level of innovation excellence.
Level of contribution to business positioning: Every business initiative is to solve problems either strategically or tactically. The organizations search for growth opportunities and explore marketing positions of the company. What distinguishes one company from another is about people, products, and processes. Information technology, process optimization, customer experience, etc, are all strategic leverages to make a difference. The organization harnesses and understands the information to capture the real-time business insight, provide ways to better recognize and act on that information for gaining competitive advantage. Businesses can take strategic initiatives to create high business value and explore the marketing positions and advantages.
Besides exploitation of the existing methods and technologies, organizations need to take initiatives for seizing competitive advantages of digital organization. One of the future trends is for corporations to realize that Experience Design should be part of the business strategy crafted by senior executives. And then, the management takes initiatives to digitize the touch point of customer experience, delight customers by providing personalized solutions. It accelerates the speed and makes a difference by leveraging the emergent digital trends and exploring the new way to do things.
Because ways of doing business and customer expectations both tend to be more flexible than before, companies need new ecosystem partners to pursue them. The dynamic leaders can bridge the difference and connect the dots, more tolerate ambiguity and uncertainty, begin thinking about ways to broaden their ecosystem perspectives, stake initiatives to build strategic alliance, integrate business capabilities dynamically, generate new revenue streams, and deepen the level of the organizational impact.
We are on the journey to build a highly-innovative organization and real time intelligent society. Today’s technology enables companies to leverage their various environments, or ecosystems, to pursue innovation and accelerate performance. Businesses today have to be solid enough to give some sort of form or meaning but amorphous or fluid enough to the environment and respond to change promptly, improve innovation excellence, build unique competitive advantages, and make ecosystem impact consistently.
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