Is Innovation a strategic priority or an afterthought in your company? The myriad of new disruptive digital technology innovations have raised the leadership bar for success. Companies can no longer pay lip service to innovation as an addendum to their business growth strategy if they want to compete as viable digital enterprises.
Business leaders are taught from a very early age that winning is about beating their competition and being able to sustain that competitive advantage. Strategic planning models are filled with take-no-prisoners hyperbole and a what-it-takes-to-win vocabulary.
The frequency and pace of change from digital disruption necessitates that companies can no longer rely on traditional planning and decision-making models. Simply put, they are too slow, too rigid, and too process driven to adapt to the new speed of business.
Disruptive change not only increases stress, uncertainty, and risk but it also enables individuals to retreat to what they know rather than explore what they don’t know. This is not only a death knell to successful new innovations, but it also undermines building a culture of creativity and collaboration.
How quickly are you turning your failures into success? Failure is not an outcome it’s a waystation on the learning highway. Too many success-obsessed organizations treat failure as an end point rather than a learning experience that provides feedback and knowledge that help future experiments succeed…
How good is your organization at finding “a path to yes” rather than “a path to no?” Disruptive change not only increases stress, uncertainty, and risk but it also enables individuals to retreat to what they know rather than explore what they don’t know.
Is your customer journey an enjoyable experience? According to a recent Epsilon study, 80% of consumers are more likely to do business with a company that offers them personalized experiences and 90% find personalization very appealing.
As I said in my previous blog, (link to August blog) the big “aha moment” for C-Suite leaders occurs when they realize that while power generates performance, performance consumes power. This means that if the company continues to overweight investments in current businesses to deliver short-term performance, it will eventually liquidate the company’s long-term power to grow.
As Clayton Christensen taught us in The Innovator’s Dilemma, a person doesn’t want a ¾ inch drill bit (product) they want a ¾ inch hole (outcome). Unfortunately, today most companies still talk more about…
As we embark on the new decade of 2020, it’s impossible to ignore the virtually unanimous consensus that artificial intelligence and machine learning will be the defining competitive differentiator for companies of all sizes across all industries.
