Collaboration is a must – do!
Digitalization has gripped all the business segments in its clasps under today’s scenario, this is attributed to rapid changes in technology, innovating minds thinking outside the box to create disruption, advancement of artificial intelligence across various industrial segments. No innovative company can just sit around and ignore this maglev train which has promised faster transformation to their growth than any. if you miss this train means, sayonara!!
However, innovation does not happen just like magic. The effort to organize and structure a compelling innovation effort is real and is reflected by the fact that many companies have embarked into multiple and diverse innovation programs. But as an organization or as an individual if you think you have covered all the domains, then it is misbelief indeed. One solution is to set up a team which has vast experience across major dogmas & principles. Can every company have this? answer is certainly not, then next best option is to Collaborate!
To bring inn paradigm changes to any product or process, successful digital corporate strategy is key. As it induces disruption and radical innovation which can be termed as basic building blocks to success in todays fast changing market. Most established organization still struggle to develop and align their processes to this challenging trend of digitalization due to limitations of working within selective networks and without drawing inn fresh ideas from market. Designing a great digital corporate strategy certainly helps organization to look beyond the traditional barriers by breaking stereotypes to discover typically unknown ideas, markets, talents and solutions.
Collaboration is absolutely key to enhance innovation, this looks plain and simple, but very deceptive. Developing a great collaborative environment is like a creating relay team for Olympics! tough relay team looks like having group of athletes trained in running a set length of course in given amount of time. Instead, a great relay team comprises of athletes who all are excellent in running, yet, distinctively different. like, one who is trained to start quick, one who is an excellent finisher, one’s who are great in transfer of batons, etc., Collaborative teams are similar in nature, where everyone works hard in their respective roles to deliver one collective result.
Smaller organizations are more likely than their large counterparts to work in collaborative environment, as they work with academics, research institutions and with other start-ups or solutions providers where R&D is often conducted. This collaboration facilitates them to conduct innovative research in-house with very little budget, otherwise which might have been out of their price range. Collaboration not only helps to reduce costs of innovation, but they also generate quicker results, which directly help the organization to enter market early than their competitors.
We think Innovation driven by collaboration generates disruptive solutions facilitating profitable revenue growth. It can also deliver improved competitive positioning, higher customer satisfaction, and decreased costs. In nutshell Innovation is key for success in today’s scenario more than ever due to rapid advancement of digitalization. To achieve growth, collaboration is a must-do.
Hence, we at IBC believe in power of collaboration more than anyone else, as we often collaborate with highly successful partners and teams to derive agile solutions to polymorphous challenges of our esteemed customers.