Building a Future-Proof Business

Gwen Ishmael's picture
Chat Date: 
Thu, Apr 12, 2012

This week's guest moderator @VolcadoDePila - aka Daniel Trujillo, Service Manager at Wall Street Institute - poses this framing for our 12 April chat. Looking forward to seeing everyone there!

Gwen

Product innovation has long been revered as the best source of sustainability in a company. The advent of new, better products has been placed at the top in many a priority list of middle level managers and the C-suite. Yet these new products do not always represent growth or even a bigger market share, let alone the survival of the company over time. What is more, the measures taken by some companies to save themselves amidst the new, tougher conditions are sometimes evidently desperate ones. Consider what happened to RIM and its Playbook, or the case of Nokia and its N8, or furthermore Nokia´s relinquishing of its flagship Symbian platform for Windows Phone.

Measures such as those taken by the companies cited in the above examples show what happens when a company fails to prepare adequately for the future, and just how despair driven can some of these measures be.

But if a brand is to remain in the market, if it is going to be a market leader for years, it needs more than the simple push of a few stellar sales quarters or a beloved line of products.

Innovation can also affect other areas of business. The processes themselves can be susceptible of changing and of being formulated anew. The perception of the collaborators and the way the business is conducted, as well as the type and pace of product innovation can all be changed to adapt to a different management vision.

Such is the topic of today´s #innochat: How to future-proof your business? Following are the questions we will review during our chat:

  • Q1: Do you believe innovation should respond to, or create needs?
  • Q2: Does the pace of innovation of your product / service answer to customers´ questions or does it create further questions and needs?
  • Q3: How do you ensure that your innovative processes will not need quick remaking?
    • Subsidiary question: Where do you get your feedback while innovating? re: Pixar
  • Q4: How do we balance preparing for the future (creating the roadmap) and being nimble enough to capitalize on unexpected opportunities (making profitable detours)?

 

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