Leading New Technologies Into Profitable Busines Models
“In order to drive lasting and sustainable change, you need to be curious about the people you’re working with and explore their perspectives. This helps you to collaborate with all parts of the organisation no matter what their attitude to change may be. Finally, you’ve got to be lean, delivering quick wins that you can build together to win hearts and minds.”
Very nice read (by JAMES GADSBY PEET) and video (Lucia Adams) – follow this link to reach both.
“Innovation is management. For those of us that want to create a lasting innovation culture in our companies, understanding this principle is vital to success. There may be plenty of myth making around innovation these days, but innovation is not about working on random ideas to see what sticks. Companies need to develop a clear point of view about where the world is going and the key trends that could impact their business. They then need to develop a clear innovation strategy that informs the types of new ideas they will invest in for the future. (…)
Six principles to follow:
* The Startup As A Method
* Searching Versus Executing
* Business Models Matter
* Right Thing, Right Time
* Right Question, Right Time
* Evidence Based Decisions
Read the full article from Tendayi Viki here on Forbes.
“Here’s the thing with innovation, you can’t just tell people to be innovative. A great idea doesn’t always come when you’re sitting at your desk between 9:00am and the end of your working day. Here at etventure we’ve tried various approaches to innovation in the last few years, and what we’ve learned is that success cannot be planned. You have to embrace uncertainty and understand that the majority of your decisions are based on assumptions. You have to invest skillfully to test these assumptions. The smarter your investment in testing, the better your chances of product success. Here’s what we’ve learned based on our experience of adopting a testing mindset and seeing your way through innovative product development.”
* Product/Market fit Cannot be Planned
* Reduce the Costs of Failure
* Prioritize Investments
* Is there Interest
* Reachability of target group
* Willingness to pay
* Technical Feasibility
* Scalability in order not to be forced re-build later on
* Focus on Outcome not Output
So please keep in mind that building an innovative product is so much more than just executing software specifics. By applying the testing mindset you’ll enhance your chances of success.
Read the full article here at “mind the product” from GREGOR ILG.
“Economists and strategists are debating both the causes and consequences of markets that are growing less competitive.
Some attribute the consolidation of power into the hands of a few to digital technologies; others point to structural factors. C-suite executives may be just as uncertain about the changes happening around them. Certainly, their expectations about how the business landscape will change in the next few years are mixed.”
Here is a new IBM Disruption study of 12,800 C-suite executives across 20 industries in more than 112 countries found these incumbents are refusing to be disrupted.
Companies must simultaneously focus on executing their current business and inventing new growth engines. But how can they achieve ambidexterity? These four strategies will help you succeed in fast-moving environments:
* Spend more time at the periphery
* Change the way you approach problems
* Recognize the early warning signs of disruptive change
* Stay grounded while avoiding stagnation
If you want to read the full story – follow this link to the original and complete article on Forbes.
The way companies build successful products has fundamentally changed. New technologies like smartphones, social network or cloud computing have enabled tech-giants like Apple, Google or Amazon to become the most valuable companies in about 20 years. Development method change over time, like:
* Waterfall (1970s) – and still more than 90% seem to use (successfully if the method is the right choice!)
* Agile (1990s) – which brings in at least an iteration when “doing” the product
* Design Thinking (2000s) – which is a more human centered approach
* Lean Innovation (Startup-2000s) – which encourages to learn/fail fast in order to pivot (or stop) early enough
In my opinion lean and design thinking simply belong together to make the most out of it:
* Focus on business models (not only on products)
* Engage customers continuosly
* Combine the methods of design thinking, lean, and agile (they do belong together!)
Read the full article of Stefan Link here.