One of the biggest obstacles to successful innovation efforts is a challenge familiar to any entrepreneur: funding. Good ideas take time and money to get off the ground. But when those ideas are relatively “out there” or unproven, the investment can be hard to justify. This is especially true in a corporate environment. Standard corporate funding models for technology projects
Tag Archives: Innovation
The popular business book “What Got You Here Won’t Get You There” offers personal and professional advice based on a simple premise: the skills and talents that got you promoted to a senior level are not the same as those required to succeed at that level. This applies in the corporate world or in our home lives; ask anyone who
The old adage is still true today: “If a business isn’t growing, it’s dying.” In eras past, it may have been possible for a business to coast through its mature stage and continue to generate reasonable profits. However, in the modern day of rapid technological advancement, a business must implement significant amounts of change to simply maintain current performance. Companies
Innovation in a business context cannot be a simple flash of brilliance. (It typically isn’t a simple flash of brilliance in any case, as we’ll discuss below.) Even in the rare cases that an innovative idea seems to come from nowhere, it must not end there. Businesses, and especially IT departments, need to deliver outcomes. A cool new gadget, algorithm,
For today’s leading companies, innovation is no longer optional. The imperative to transform your offerings while simultaneously driving productivity and cost savings continues to grow more urgent as the pace of technology accelerates. But while innovation is a key component of any modern business plan, it also enjoys a singular status among most organizations’ critical strategies: it’s the only one
Today’s IT departments face a profound challenge: the delicate and precarious balance between stability and innovation. “Keeping the lights on” has never been more important. Business quite literally runs on technology and any downtime or blips in the user experience can cause major negative consequences, from brand equity and sales to internal productivity and morale. But innovation is equally imperative.