Beyond the Hype: Digitising is about more than following the crowd
Open Innovation is the Only Choice for Business Leaders Today
What do Henry Ford, George Lucas and Steve Jobs have in common? From first glance we know they are all powerful creators, we also know they are all pioneers. What exactly made them the pioneers they became? Did they follow the latest hype in their industries?
No. They innovated their industries, they led the curve by not only accepting technology frequently. They created technology that would fill the gap, if their vision could not be realised with current facilities, they did something different.
Henry Ford created the V12 engine even though many said it couldn’t be done, even after his mechanics had tried for over a year and failed. Mr Ford was not giving up and eventually they made it happen. George Lucas needed his film Star Wars: A New Hope to be different from the spate of Sci-Fi movies released in the wake of the moon landings. He created new methods of filming and adding effects that had never been used in film before. Steve Jobs we all know too well, touted as the most innovative business leader there has ever been. Steve created a vision of a closed loop consumer centric aesthetic computer and now Apple stands on top of every other computer company with his spirit for innovation continuing to push the company upwards.
Many companies nowadays don’t have time to focus on new technologies. They believe that implementing fledgling software and hardware will only hinder the processes they have worked so hard to create. Companies make the mistake - which is very easy to do - that digitising a company is innovating. Well I’m sorry to say but companies need more than to just give themselves a fancy website and a pat on the back. In order to lead an industry you must play a part in innovating your industry.
Business leaders particularly in the ASEAN where I am based often don’t truly understand how open innovation can create excellence in all parts of business process. ASEAN companies too often rely on internal R&D to develop business process and contribute to process excellence. In todays fast moving, content rich society where everyone is reading and sharing ideas it is short-sighted to simply rely on internal processes when successful companies are developed on singular innovations.
Choosing new technology to aid innovation is not innovation it is being sold a product and buying into it. In the end this technology is available for everyone, therefore it does not maintain your businesses position as a leader. True innovation comes from being completely open to partnerships and external, outsourced teams, for developing new ideas and technologies that really do achieve radical and disruptive business transformation. In regards to this hyped, new technology really all that it can and should be used for is to arrive at that real innovation.
Too many times the discussion of innovation is not focused on process. Today with technologies like artificial intelligence and process automation businesses have a chance to shorten the time to market; increase the amount of value added tasks completed by an employee; while at the same time adding to employee satisfaction. All these components create a well oiled business that does not fail.
Today, more than ever ASEAN has challenges to match up to western world. Its Value differentiators and its operational efficiency are all issues businesses must address. Most ASEAN countries have a high operating cost. To succeed tomorrow CIOs should be shifting from a technology focus to operational and business excellence focus. Where the digitisation and innovation discussion is focused on lean start-up, process agility and creating process portfolios that contribute to the overall effectiveness of the business.
“Nothing is particularly hard if you divide it into small jobs”
- Henry Ford
These companies embracing this change to an innovative digitised process portfolio are the leaders of tomorrow. Hype tech can contribute but it won’t bring you there.
My work has involved developing many tools that contribute to business transformation, efficiency in workflow, automation of tasks, that provide real time critical information and ensure a continuous operating and business excellence. One of the most important things I have learnt is that process is critical to how companies function and innovate. If we can get beyond the hype, be open, discuss internally and externally on the development of new functions; your company can learn to disrupt, to be excellent and lead your marketplace.