Agile is a robust approach to value creation. More and more organizations are adopting Agile Software Development approach.
Becoming Agile is imperative to meet and exceed customer expectations and emerging business trends. Implementing the Agile approach to Software Development leverages significant benefits, including:
However, Agile alone is not enough. Agil
Accelerated pace of technological disruption has forced organizations to change. It has triggered leaders to think of the ways they must adopt to survive in these challenging times.
Organizations are confronting this scenario by embracing digital technologies. Traditionally, the focus of the organizations in these Transformation initiatives has remained on speed of change. To get the most out of their initiatives, they are making drastic changes, to include:
Improving Product Development competencies in designers and developers is a concern for senior leaders in the manufacturing sector.
The approach most organizations take in developing Human Resources does not go beyond staffing the cream of the crop from leading global educational institutes. Talent Development to them is, typically, sending their people to attend workshops and keeping up with employee annual training hours’ goals, and that’s it. Companies usually spend more on acquiring latest
A traditional Value Chain involves a linear sequence of activities—from conversion of raw materials into components which are assembled into products. The products are then distributed, marketed, sold, and serviced. Management plans and execute strategies and operations based on this sequence.
This set of activities worked well for organizations in the past. However, this linear progression does not encourage Innovation and provides little protection from the risk of being outperformed by riva
Survival of a business in this digital age largely depends on its ability to timely embrace Digital Transformation. Digital Transformation entails using Digital Technologies to streamline business processes, culture, and customer experiences.
In order to compete today—and in future—and to enable Digital Transformation, organizations should work towards fostering a culture of continuous learning, since Digital Transformation depends on learning and innovation. The organizations that holistically
COVID-19 is shaping a “New Normal”—a Low Touch Economy that requires a strategic response.
The world is changing. Forced isolation and social distancing restrictions have been put into place with the advent of the COVID-19 health crisis. This is not expected to end soon but is expected to have a lasting effect on the world. In fact, a new generation of consumer behaviors is already being shaped.
The new world will not be better off or worse. It will be different. During this period of influx, some
Chemical manufacturing companies are continuously coming up with concerned initiatives to assist against Coronavirus which is submitting to extreme highs with hopes of abatement. With rising number of cases, the demand for essential chemical feedstock required in the healthcare industry is showing an incredible surge, compelling the indulged companies to scale up the supply. Stressing this issue, WHO has also asked chemical companies to ramp up the production of personal protective equipment mat
Organizations today are spending money on the latest technologies and working hard to solve problems as they arise. Yet, sad to say,
this is simply not enough.
Today, to get on top of today’s fiercely competitive business environment, organizations need to take a strategic move: Develop an Innovation Mindset. What is an Innovation Mindset? What does it take to develop an Innovation Mindset? Often, this can be mindboggling as we get confused as to understanding what is an Innovation Mindset. Devel
Today’s C-suite is making a significant investment in new technologies. Yet, it is failing to achieve full value. Technologies are being
deployed in pockets or silos without a Strategy for scaling the Innovation from these technologies across the enterprise. Unable to scale their Innovation, organizations are not realizing the full benefits of their technology investments.
An Innovation Achievement Gap exists. What is the Innovation Achievement Gap? This is the difference between potential and r
Gordon Moore, Intel co-founder, observed that the number of transistors in a dense integrated circuit doubles about every two years. He projected that this rate of growth would continue for at least another decade.
His observation, termed the “Moore’s Law,” has correctly predicted the pace of innovation for several decades and guided strategic planning and research and development in the semiconductor industry. Moore’s law is based on observation and projection of historical trends.
In 2015, Gor
Status quo talent strategies no longer work for high performing organizations. Old models no longer work. It does not anymore meet the
needs of the global workforce.
HR Strategies are out of step with the way work is conducted. Jobs that are structured around a 9 am to 5 pm Monday through Friday workweek is considered inconvenient and counterproductive. Training focuses narrowly on skill building not on aligning talent capabilities with strategic objectives. Career development does not reflect th
In an era of digital business and rapid technology change, virtually no company can ignore the imperative to innovate. Failing to do so
is an invitation to lose business.
To learn how companies are responding to this mandate, PwC conducted a major global study in 44 countries. The goal was to understand how leaders view innovation and what is being done to reap its rewards. Findings showed that companies are struggling with aligning innovation efforts with business strategy. Companies across a wi
Pest control is the first line of defense against bugs and rodents invading home or business, destroying property. These bugs and rodents cost hundreds or even thousands of dollars’ worth of damage. It is not easy to detect certain insects, including cockroaches and termites. These may remain hidden under floorboards and walls for long periods, eating a property's structure and leading to expensive bills for extermination and repair. Since there is no specific way to detect whether a pest carrie
A large majority of organizations rarely focus on gathering and utilizing customer-centric knowledge. So much so that they even introduce a product without having vital insights on the customer and their unmet needs, and they are often clueless about them. Consequently, many product development initiatives fall flat as managers struggle to filter and evaluate ideas.
Most organizations, today, are developing initiatives around Customer Experience Strategyand Customer Journey Mapping. Customer-cent
Inspiring breakthrough innovation in business models and solutions is becoming critical for organizations’ existence, as startups through their innovation have been consistently disrupting large organizations globally. To foster innovation, the key ingredient is creating an organizational culture that encourages innovation in all spheres. Every organization, today, aspires to nurture a culture of innovation where employees are motivated to take initiatives that result in the creation of innovati
Almost every other day, startups emerge and disrupt established companies because of their innovative ideas and business models. This disruption is, primarily, due to the reluctance of big companies to implement a series of strategic and organizational practices required to organize and inspire creativity.
Large firms are, generally, better at implementation rather than innovation due to their long-established ways of doing business and other cultural elements. Their success is owing to optimizat
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Source: MIT Management Executive Education
Written by Visiting Professor Bill Fisher
Recent studies show that when it comes to innovation, corporate strategists don’t walk the walk. They know that real change is required to succeed, but the vast majority of growth efforts are allocated to continuous innovation instead of disruptive ris
By: MIT CISR
Author(s)
Ross, Jeanne W. and Fonstad, Nils O.
Type:
Research Briefing
Topics:
Digital Innovation
Business Agility
IT Governance
IT Investment and Portfolio Management
IT-based Business Transformation
2018-02-15
Abstract: To counter pervasive uncertainties in the business and technology environment and prioritize the most strategic innovation projects from myriad options, companies can take a test-and-learn approach to innovation investments. From our analysis of t
Year over year, scandals like Wells Fargo, Equifax, Chipotle and so many others have dominated news headlines as they wreak havoc on consumers, investors, and awaken industry and government regulators. What is driving this trend?
Consumers have entrusted corporations with increasing involvement and influence in their lives through the decades. In 2014, for example, the Supreme Court ruled that corporations have some of the rights and responsibilities as natural persons. In other words, corporatio
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