Institutional innovation affords organizations the ability to redesign their processes and adapt to the changes in the marketplace.

1. INSTITUTIONAL INNOVATION
AN OVERVIEW
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With the exponential growth of technology and the ever changing
political climate of the world’s nation states institutions that focus on
innovation and accelerating learning are the ways forward.
Institutional innovation affords organizations the ability to redesign
their processes and adapt to the changes in the marketplace.
Utilizing scalable learning strategies will allow these organizations to
generate the necessary innovations in products, services, business
structure, and management hierarchies.
Blending the old thought process of efficiency through scale with the
new innovation through creativity and institution will allow these
organizations to maximize their advantage in the global arena.
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Through the industrial age and up until recently the focus of business
has been about scalable efficiency.
With every advancement of technology and infrastructure, the
organizations were forced to grow larger if they wanted to achieve the
benefits of scale; producing greater volume to increase margins and
reduce costs.
The business models that have grown out of this scalable efficiency
cause most of the companies to create rigid processes that are
calculated and consistent. This has served them well up until recently,
but now this rigidity is starting to hamper the growth.
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The consistency that has served these organizations so well in the past,
with the focus on efficiency, is severely limiting their ability to innovate
and implement any real change.
It seems then that there needs to be a balance between the scalable
efficiency model and the ability to learn or innovate.
This is especially noticeable when there are tough economic times or
unstable geo-political relations, as they are unable to adapt.
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The last few decades have brought about great globalization for
business and this has led to an exponentially rate of change.
The new digital infrastructure and means of communication has forever
changed the way that businesses conduct trade.
The companies that have been unable to adopt an innovative process
into their core operations are now finding that they are getting further
and further away from satisfying the needs of their customers.
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When things were stable this same companies thrived, but the balance
needs to be carefully managed between innovation and efficiency.
The opportunity for institutional innovation will allow these companies
to adopt a more innovation based mindset that will help them adapt in
this changing world.
Opening this possibility even further the same scalable efficiency
focused companies can lean on institutional innovation as a means to
allow the option of open innovation.
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INSTITUTIONAL INNOVATION REQUIRES
Institutional innovation requires companies to embrace the concept of
scalable learning that will lead to smarter institutions that can prosper
from the ever changing climate.
This adoption will allow the companies to adopt an innovative process
that empowers their employees and fully harnesses the creative
potential of their networks.
Whether or not the organization gets to the point of open innovation or
not, the institutional innovation will open this door as a possibility.
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8. GROWING BUSINESS WITH INNOVATION
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