Enabling innovation as top priority

Economic climate still presents considerable challenges, and companies are facing budgets squeeze as a result of cost pressures. In addition, safety is not in game-changing innovation; it requires clear vision, well planning and long-term commitment.

The scope of innovation has expended to value creation for customers – personalizing the entire customer experience. So formulating an organizational culture that promotes innovation, affording organizations to get closer to customers to find out what they really want and focusing their innovation accordingly – is more important than ever.

How does this affect you?

Innovative companies are creating new business models they don’t think in terms of products and services so much as outcomes, they recognize – products and services are simply a means to an end. Treating innovation like any other business process. In other word, they encourage innovation that’s both fundamental and systematic.

They don’t try to do everything themselves, they collaborate extensively with a wide range of partners from inside and outside their industries. Thus affording them to experiment with different ways of innovating “open innovation and/or incubation”