Will Astounding Innovation Elevate Global Well-Being?


The center-piece of my work is the early signs of a Shift to Purpose and Well-being. I first developed this Innovation Wheel (click to view in a separate window) Future Innovation Wheel - White backgroundwhen analyzing the impact of second industrial revolution innovation on well-being in the Western world. The Possibilities are boundless – but society must Map the Path of Future Innovation. I walk around this innovation wheel when describing it to an audience, investing time in describing the possibilities across the various areas of well-being. This short video clip replicates that walk around the innovation wheel. The possibilities are indeed boundless.

 

 

Mapping the Path of Innovation


In a recent post, I asked my readers to help me identify those catalysts that force the actions required to steer our future towards advancing our human development. Feel free to respond to the Poll. The number one response was the rapid pace of innovation. That response supports my own opinion that the pace will ultimately force stakeholders across multiple domains to take action. Much like the Domain Convergence that occurred during our most Transformative Period in History, convergence is required if we are to take the correct path towards human flourishing.

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Coffee Break with Game Changers: An Innovation Explosion


On November 30th, I had the pleasure of participating in another Game Changers show. I was joined by Futurist Gerd Leonhard and SAP Innovation executive Timo Elliott. The show was expertly moderated by Bonnie D. Graham, starting with her positioning of the topic: “Impossible is not a fact. It is an opinion” (Muhammad Ali). A unique clustering of inventions in the century after the U.S. Civil War improved the American and European standard of living – human well-being – more than any period before or after, with advances in everything from food and energy to health and work. Can our current innovation explosion have a similar impact despite unintended consequences? 

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Large Companies and Innovation


“The pace of innovation is about to surge – and more powerfully than ever before”

That sentiment comes straight from a new book titled: The New Killer Apps: How Large Companies Can Out-Innovate Start-Ups. As obvious as that statement seems, many leaders still act as if nothing is really changing – or any impact to their business is too far into the future to worry. This well written book focuses on the problem with this kind of thinking. Anyone that has worked in a corporate setting will resonate with the challenges identified in this book. Behavior at every level of an organization is the biggest obstacle to innovation and the identification of what the authors call “Doomsday Scenarios”. Most of us are familiar with traditional company politics and turf-driven behaviors. The authors conclude as I have, that most bias in an organization goes toward keeping the status quo.

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The Innovation Imperative


Web 2.0 capabilities align very closely with mounting enterprise issues; and it’s changing the way that knowledge workers interact with information and one another. Web 2.0 and advanced forms of analytics support the most compelling challenge facing the 21st century Enterprise; the need to create sustainable competitive advantage. New forms of innovation and the speed of that innovation are the keys to creating that competitive advantage. The perfect storm of technology innovation referenced on this Blog will enable: 1) the inclusion of consumers, partners, employees, and other stakeholders in the innovation process. 2) The ability to collaborate, access, and act on growing amounts of information in a shorter timeframe. 3) Small groups to come together quickly to problem solve. 4) Customers to receive personalized products and attention. 5) The enterprise to meet customer demand for more customization and flexibility and create products and services faster, at far lower cost, with far less risk. 6) Employees to improve communication, productivity, and knowledge capture. 7) The increase of loyalty and revenues, while reducing sales and support costs. 8) The retention of tacit knowledge as key staff retires or moves on to other opportunities (baby boomer). 9) The attraction and retention of younger talent (the Internet generation).

These business imperatives are essential for the enterprise to compete: innovation is the only answer. Web 2.0 enables employees, partners, customers, consumers, government, and other stakeholders to participate in the innovation process, while advanced analytics provide actionable intelligence to accelerate it. When a phenomenon this large aligns so closely with the compelling needs of business, it is a clear sign that the time is now.

A look at 2011


As 2010 winds down, it is time to look ahead to 2011. I have high expectations as the calendar turns, and I believe 2011 will be the year of adoption. I believe we’ve reached a point where cash will come off the sidelines and I expect to see technology investments focused on revenue generation and value creation. With that as a backdrop, I’ll Label 2011 as the year of collaboration and intelligence – the two areas that I believe align very well with pressing business priorities. So here are my thoughts on 2011.

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Reinventing Customer Relationships


CEOs believe that the time has come to reinvent customer relationships. That’s one of the key findings in IBM’s 2010 CEO Study titled “Capitalizing on Complexity”. This belief is based on the following observations: 

  1. The world is massively interconnected, thereby making customer intimacy a priority
  2. Customers have more options due to globalization and dramatic increases in available information
  3. Differentiation will come from innovation and co-creation with customers
  4. The information explosion presents a great opportunity to develop deep customer insights 

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