- Enterprise innovation has been around
for a very long time.
The difference today is the speed, simplicity and efficiency
with which it can be done.
From phones to cars, to airplanes,
from retail to healthcare,
there's a common framework that can be used.
There are three primary pillars to success
in driving an organization's innovation.
People and culture, focus and execution
and time and investment.
The first pillar is people and culture.
You need to start with a foundational belief
and a growth mindset.
That's really the belief that people,
including oneself, can change their talents
and their abilities.
Finding people with a passion to do the things they like
and tying the innovation to people's interests.
It's also about getting them
out of their comfort zone, removing constraints
or perceived constraints that they might have.
It's asking them to walk
in the shoes of a potential competitor
and to step above and beyond the quarter
over quarter view that they normally take.
They need to think about where the world is going in 2030.
They need to think about the impact
that artificial intelligence will have.
It's about $13 trillion in economic output.
It's about thinking about those that live
in a world that's mobile first.
Over 50% of world's youth
will live in mobile first countries in 2030.
Second, it's about focus and execution.
Oftentimes our biggest opportunities
for innovation are the largest
and most complex parts of our business.
It's about reducing the size and removing the complexity
of those projects and innovations that you want to do.
It's about focusing on the customer,
knowing what problem you're solving
and who you're solving it for.
That focus is the foundation
for bringing innovation to life.
Executing on the promise and delivering on the opportunity
also requires a clear go to market plan.
What metrics will you track?
Do you know if you're on the right path?
80% of all execution is about having a plan
and about tracking the path.
Third and final pillar is really time and investment.
Cloud computing, connectivity and the vast amounts of data
empower us to get something to market fast and learn.
The investment strategy is about setting realistic returns
and then making sure that that return
is based on all your company stakeholders.
Employees, customers, partners and shareholders.
Enterprise innovation can come in any form.
It could be a quick win.
It could be disruptive business opportunities.
It could also be just about creating
a unique customer experience
or creating a new revenue model.
And of course, there's always driving cost savings.
With a focus on the customer,
innovation can help future-proof your company
and make a positive impact on everything that you do.