Two recent examples show how digital disruption is having a huge impact on traditional businesses and business models and how rapidly innovation as a practice and process will need to change to keep up with the impact. Over the last two years, one of Australia’s largest publicly owned talent management organizations has seen one of its major client’s spend fall from A$30million per annum to $15million per annum, with expectations the total spend year ending 2012 will be around $5million. For any company this is a huge drop in revenue and as the Managing Director said “It is not only a huge drop in revenue for us, it is a huge drop in revenue for the total HR industry in Australia.” This contraction has come about because of
The question “What is the value chain in innovation in organizations?” was posed to me by the MD of a global leadership and talent management consultancy seeking to understand how his organization might enter the leadership and innovation market.
In all my years of working in this space, I had not been asked this question before and yet it seemed a reasonable question. So being challenged for a response, I delved into the question and the more I delved the more I found scant information and lots of interest. Indeed, when I asked the question in the LinkedIn questions section and in my own LinkedIn Contacts the response was quite startlingly, the most varied from an industry perspective and the most in number I have ever received. It seems there is a strong desire by people to contribute and to find out what others thought the answer might be.
I have now completed several interviews with senior executives in major multi-nationals and I will commence writing a paper shortly. I am still seeking contributions and if you would like to participate I would be most grateful. Contact me here or to receive a copy of the paper when it is finished register here.
There is major disruption to markets and business models taking place globally as a result of the confluence of technology emerging into main stream behaviourial norms and the continuing global financial crisis. Thus, organizations need to focus on change and transformation as primary objectives to survive right now.
Creativity and innovation are the drivers in change and transformation.
Having worked globally helping hundreds of organizations to innovate, I have recently developed new ways of identifying what type of mindset is required, what the innovation impediments are, and how to remove them to make innovation actually flow in an organization.
The skills required to be innovate are without exception latent inside the organization, its leaders, managers and employees. All that is really required to unleash great innovation is some tools and a determined mindset.
Oh and confidence!!.. And this is where I know how to assist you.
Give me your best and brightest leaders and managers, allocate resources and watch how your own leaders and managers can develop an organization wide innovation practice and transform your organization into a 21st Century industry leader.
Click here to book a presentation on creating and leading an organization's innovation capability
with Ralph and receive his recent article on Innovation in The HR Industry
Dig into the rigorous thinking via Google Scholar on innovation and you will find there are 2, 300,000 articles and books of an academic nature that have verified and validated every different type of known innovation process - disruptive, open source, front end, back end, induced, user, IT, supply chain, management, R&D and even innovative innovation!! Enough information to drive you crazy. And worse still, there is a huge problem with most of it!! It perceives innovation as a theory and a process and it is neither. It’s a practice‼