Collaboration Driving Innovation - Summary
Those who live by the sword get shot by those who don't
(Murphy’s lesser known law)
The need for organisations to innovate and embrace disruptive technologies, products and services has never been more important than at present as we emerge from the current down turn. The recent financial crisis has been “game changing” and organisations that simply expect to pick up from where they where a year ago may find new agile competition invading their market space. This is because new organisations are not encumbered by old paradigms and structures and can more readily exist in smaller emerging markets, while more established organisations are tied to less appropriate structures.
But why innovate if your customers are once again placing orders for product and services in ever increasing volumes. Professor Ian Philips of ARM and visiting professor at Liverpool University, contends that half of the revenue earned by a technology company in five years time will be from things they have no knowledge of today. In other words if an organisation does not research new innovative technologies than its revenue will only be half of what it could be in five years time.
It is accepted that this nominal five years will vary from industry to industry, but the principle remains the same and those that do embrace this principle and make a real investment will grow and ultimately take market share from those who don’t.