Buzz about Innovation !!! What’s your InnovationStrategy? | 2 Ways to Grow your Business

Tech Hunt
Tech Hunt
Aug 23, 2017 · 1 min read

The buzz about Innovation and its ability to disrupt is everywhere. Innovation is cited as the mantra that will help organizations deal with ever-increasing customer ex­pectations, help reduce costs, or rise above competition. In today’s world when innovation S-curve has shrunk considerably and pace of technology advance­ments has significantly accelerated, dealing with innova­tion is not a one-time affair. Transformation is no longer a destination, it has become a continuous journey. The CXOs of today are required to not only run their ongo­ing businesses profitably, they have to regularly evaluate new ideas to determine what they can use for their ben­efit and have to keep looking at the horizon to see any emerging threats of disruption. Dealing with Innova­tion successfully, requires that it is strategically handled and governed.

1. Make Innovation a key ingredient of Business and IT strategy

In my conversations with CXOs I find that the desire to innovate is generally strong but only a few organizations have a well-defined Innovation strategy. The Business and IT strategies along with plans for Digital Transfor­mation……

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