Spark of Innovation
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Innovate to bring Change
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■ Today, every operation is going through digitalization and digital transformation. So how Innovation is critical to Digital Transformation and Fourth Industrial Revolution?
■ The fact is that while Digital Technology is an enabler of Digital Transformation, it is not the only way to achieve a transformed business model.
■ Digital transformation is not a single project; it involves the entire organization and is largely a cultural journey, focused on innovation.
■ Innovation and Digital Transformation are very important topics when discussing industry 4.0. In practice, both refer to inter-related emergent disciplines that are pivotal for firms to learn, practice, and master.
■ Together, they represent both an opportunity and a threat. The opportunity is to use digital to spark innovation and reimagine your present and the future. The threat is that your competitors, both known and emerging, can easily do the same.
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Innovation requires initiative, ideas, and commitment. Daring to challenge existing solutions and try out new ideas to investigate the future potential.
■ In fact, over the past decade, the combination of digital transformation and innovation has turned the global business ecosystem upside-down, giving birth to a new generation of business models and corporate giants, while diminishing and disrupting others.
■ Because the innovation tools and digital technology are readily accessible to everyone, technology itself affords no distinct advantage; rather, it is the human element behind that technology and innovation, and strategies, that business success depends on.
■ For any Digital Transformation Innovation is a mandatory prerequisite to achieve it. Whether it is Technology Innovation, Business Innovation, or Innovation to enhance the customer experience.
■ Innovation requires initiative, ideas, and commitment. Daring to challenge existing solutions and try out new ideas to investigate the future potential.
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■ 1. Way to deliver the services
■ 2. Way to manage the supply chain
■ 3. Way to represent the brand
■ 4. Way to interact with customer
■ 5. Way to increase the profit margins
■ 6. Way to collaborate with partners and customers
■ 7. Way to organize skills and technology infrastructure
■ 8. Way to operate the business
■ 9. Way to improve product features and functionality
■ 10. Way to add complementary offerings
■ 11. Way to change the business model
■ 12. Way to enhance customer experience
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However . . .
领英推荐
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The paradox of Disruptive Innovation
Not all innovations are disruptive, even if they are revolutionary.
In business theory, disruptive innovation is an innovation that creates a new market and value network and eventually displaces established market-leading firms, products, and alliances.
However disruptive innovation is considered at the highest maturity level of an Innovation, but still, we can sense a paradox of Disruptive Innovation. Here we have identified two paradoxes of Disruptive Innovation.
1st Paradox
Disruptive Innovation is Transformative, which means it brings a complete transformation in the Technology Model, the Business Model of an enterprise. But still, it is not mandatory always to achieve such kind of highest level of innovation maturity. Sometimes, grabbing the low-hanging fruits by improving the existing process and ways of working as a part of operational excellence also brings a lot of improvements. Here the ask is "why reinvent the wheel"!
2nd Paradox
Disruptive Innovation is considered to serve the unserved, which means it creates a new business model, a new business use case, and creates a new segment of the market. However, the paradox is that any disruptive innovation is not self-sustainable. As any new innovative or emerging technology is going to become a new normal with time and one has to take new initiatives to innovate new business models, products, and services.