Innovation at certain core points in the value chain has a bigger impact on the value created as compared to other peripheral points. These core points in the value chain are called innovation Hotspots.
For an organisation, generating innovation cannot be a mere flash in the pan. Each and every innovation has a lifetime during which it delivers its value, and subsequently, declines into oblivion. Therefore, organisations in competitive markets such as FMCG and Automobiles demand a continuous stream of innovation to generate a persistent stream of newer values for customers. However, innovating at a steady frequency remains wishful thinking for most organisations. And, it is something that most of them seek out, but hardly achieve in their lifespan. This is owing to the fact that a steady stream of innovation is possible only if the organisation has a culture of innovation which is impossible unless the organisation has an innovation Ecosystem.
A non-accidental Ecosystem
Innovation Ecosystems are not accidental. They are conscious organisational creations which believe that not innovating is simply a prescription for suicide. In a world of technological transformations and paradigm shifts, and continual shifting of the parameters of competition, it becomes imperative for an organisation to outrun or out-innovate its competition if it wants to grow. Without an Innovation Ecosystem, the possibility of the organisation out innovating its competition, is nothing more than a pipe dream. Let us look at the need for innovation Ecosystems from another angle which emerges after mapping the success and failure pattern of multiple organisations engaged in the target of innovating at a faster pace.
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Denne historien er fra August 2018-utgaven av Human Capital.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
