Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

The Speed Of Innovation


Published on

Check out this article in the latest edition of South African Innovator

Published in: Technology, Business
  • Be the first to comment

  • Be the first to like this

The Speed Of Innovation

  1. 1. the Speed of Innovation! This is an actual photograph of what So the real question is: What are you doing to competitiveness looks like in today's market become more innovative? Are you a leader or economy. Stephen Covey once used the term a follower in the market? If you are a follower ‘white water’ world to describe the state of than the image above probably makes more constant change and everything moving at sense to you. Leaders in innovation under- such a rapid rate. My contributing analogy is stand that innovation can sometimes be cha- that innovation is like traveling at light speed os. However they also understand that it is that's on a winding road. You really have no better to create the chaos than be left in the idea what is coming next. There is an dust of another organizations innovation ini- explosion of new businesses literally every- tiative. The challenge is to be aware of what’s where and innovation has literally become the out there, to test many prototypes quickly and name of the business game. to understand your differentiation value.
  2. 2. Innovation is about living in a world filled with uncertainty and chaos. Customer research is no longer enough to figure out what people want anymore. There are certainly some fun- damental principles which need to be adhered to that really come down to building good relationships with customers. However, at the rate of Innovation in the world today it is still not good enough. The message is that you have to become a fashion business and be remark- able as Seth Godin puts it in his wonderful book, Purple Cow. Consider for a moment that story of Yahoo and Google. Yahoo was all the rage just a few years ago and although Yahoo is still certainly very relevant it has taken a side seat to Google. What happened? How could this happen? Surely users of the Yahoo technology were satisfied with the service ex- perience etc ...How did Google just become the next best thing? Another story is that of MySpace and Facebook. MySpace was around for awhile before Facebook even appeared. It was an original concept that attracted millions of users to it. Then Facebook shows up and not only hijacks but overtakes the number of users that MySpace had. So what’s the point here? Innovation is now the name of the game and it is a never ending initiative. Experts would suggest that organizations circulate through cycles of innovation and optimization. Meaning that once a certain innova- tion is out there the focus is really just on optimization until that technology, product, service life cycle comes to an end and then we move back into the cycle of innovation. I suggest that product and efficiency life cycles have become far shorter. The nature of compet- itiveness nowadays is ‘The Next Big Thing’ and what may be considered to be an efficiency cycle is shortly eliminated by a new and even better proposition. So businesses can not afford to shut their eyes to trends, competitors and new entrants in the market. Cer- tainly the focus of any business should be to become and continue to remain remarkable. But that remark- ability is defined by the customer and not by yourself. You may be the flavor of the month today but who knows about tomorrow? 2
  3. 3. Keeping up with Innovation Checklist Dedicated R&D Constant focus on the market Constant focus on new entrants and experimental technologies Constant prototype development Development of quick and dirty testing Collaboration and information sharing across your organization Changing attitude towards failure Encourage a culture of constant learning & training Get fast, flexible, fun and free Make efficiency and innovation work hand in hand Reward Innovation in your organization Create partnerships outside the organization Make your customers your innovation partners 3
  4. 4. About CEXINO CEXINO consulting offers a wide range of products and services in the fields of: Customer Experience strategy, design & management Innovation leadership, management, strategy & enablement Creativity in business, strategy & enablement team Building, Coaching, Collaboration and transformation CEXINO offers: Workshops Facilitation Training Coaching Consulting Customized Toolkits & Value propositions Speaking interventions Please feel free to contact CEXINO consulting to help you improve your customer experience innovation. Contact Details Zwi Fainberg CEO 084 555 9581 Contact CEXINO1 on SKYPE About Zwi Born in Israel in 1980. Immigrated to South Africa in 1989. Studied at Rand Afrikaans University and graduated with Honors in Information Science with majors in Strategic Management, Knowledge Management, Information Management, Web and Intranet Management. Worked at First National Bank as an Innovation, Customer Experience, Strategy, Project and Change Manager and subsequently moved to Absa Barclays Bank where I worked in the fields of Business Intelligence and Innovation Management. During my experi- ences I attended many seminars, workshops and courses in the fields of innovation, creativity, coaching, leadership, facilitation, strategy, change, communications and project management. I am a qualified personal and life coach and love to work with people and help them solve problems and overcome challenges. 4