Innovation

BUILDING DYNAMIC CAPABILITY

Why Innovation Matters Now More Than Ever

Consumers increasingly want and look for what’s new, best, fastest, more convenient, or more fashionable, and tire of products much more quickly. In this increasingly educated, talented and connected world, successful start-ups can pop up anywhere, slashing labour and production costs and leapfrogging industry incumbents.
The most successful leaders accept uncertainty as an inevitable factor in modern business, and then turn it to their advantage reacting fast, continuously improving the experience of their customers and empowering their people to deliver market-beating results to become more adaptable – to be ready for whatever situation may arise.

Ingenuity

Ingenuity is a capability reflecting an ability to work with the resources to hand; a knack for combining these resources in a surprising way; and in doing so, an ability to solve some practical problem.

Ingenuity does not become innovative until someone (entrepreneur) takes the initiative and finds a way of overcoming the many processes, attitudes and cultural barriers that stand in the way of implementation — adding real value either commercially or socially to the ideas and solutions.

Innovation

Innovation is not a lightbulb moment as often depicted in the cartoons – it is the result of a managed process aimed at providing value to the customer. Complacency is not an option.

Breakthrough growth isn’t about luck – it’s about creating and implementing an innovation management system to create sustainable value.

Initiative

True leaders, capitalise on new opportunities, created by disruptive innovation.

Initiative flourishes in open working environments where there is room for exploration, discussion of ideas, and opportunities for building informal teams across professional and functional boundaries.

Initiative involves pushing through innovation while at the same time looking to achieve relevant technical excellence and ensuring effective management of resources and approach to risk.

Ingenuity and Initiative creates Innovation, and innovation creates value

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Bringing Innovation To Life

Challenge conventional notions of how things have been done before, and bringing ideas from one industry to another, or from one geographic region to another. Creating meaningful points of difference for products and services vs. current alternatives.
Fulfilling unmet consumer needs, by offering new ways to accomplish goals, or make lives or jobs easier, better, happier, more exciting, satisfying, or more productive. Enabling brands to compete in incremental new markets or category segments.
Delighting / engaging / capturing imaginations of consumers to increase loyalty.
The best new products and services frequently offer a number of innovative characteristics / features / attributes, and customer “touchpoints” in combination.

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