Tags: Innovation, Strategy, Capability, Marketing, Process

The failure of rigid functional management models to deal with rapid technological change and the burden this places on people and process, has increasingly led to the recognition that innovation is not the sole domain of engineers and scientists. It belongs to everyone and must be incorporated in all functions and themes of a business. In particular the computer has created significant opportunities to use innovation for growth and profit in all areas when enlightened use is made of the knowledge databases it can readily access and reconfigure. Accurate and reliable information is now available in real time as never before. Successful companies in the future will innovate and employ cross functional teams which are strongly customer focused, using tightly controlled processes as they compete in the global marketplace. The future therefore will lie with an accelerated supply chain which focuses on the value added steps in innovation. This means that it is essential to provide continuous feedback to all processes to reduce the time to market for new ideas, new products and new services as well as new ways to market them. Hence innovation must saturate the strategic plan for all processes. In essence this means that product and service innovation will be interwoven with process innovation.

Future-Innovation-Strategies.PDF