The Challenge: enterprises simply building a better (digitalized) mouse trap are facing an existential threat posed by competitors who are buggy whipping the business models altogether
The desire to engage with a customer base that is more digitally savvy and whose expectations change with the social winds is pushing organizations to take a hard look at their outdated business models, processes, and systems. Leadership teams across the globe are trying to figure out how to take full advantage of emerging digital technologies—5G connected devices, the Internet-of-Things, Cloud, big data analytics, artificial intelligence, and blockchain—to enable a fundamental reimagination of the value they wish to offer their customer and how to deliver it effectively. A compelling vision of a wanted state and a strong owner to carry that vision through the perils and distractions of technology and organization change are required to ensure the returns on what not doubt will be an enormous investment in resources, time, and brain cells.
Driving Strategic, Measurable Change
Innovation is typically related to a technology spark of some sort, while transformation is either some form of project management on steroids or a yet-to-be-defined concept. When it comes to driving change, we believe these two enablers cannot be viewed as somehow mutually exclusive: (1) transformation apart from innovation = strategy based on good intentions; while (2) innovation isolated from transformation = business value that lives in an intranet in PowerPoint that never sees an investment.
Transformation not woven with innovation is like trading in your workhorse pickup truck for a Porsche with no gasoline in the engine. It looks fast and pretty in your garage, but you really wanted to cruise the mountain pass at breathtaking speed. Innovation that is dedicated to a research or technology organization often falls prey to the org-chart game of throwing the ball over the wall and hoping someone plays with it at some point.