Make the Technology-Innovation Link for Business Changes
Setting a future-focused vision and strategy for the organization by embracing changing technology in its products, services, and operations brings a tremendous benefit: People want to explore and innovate. Although there isn’t a scientific formula for innovation and being ahead of the technology curve, when the structure and culture allow an open flow of information and this flow is rewarded, innovation will likely follow.
If the company is stuck in 1982 technology with bolted-on, home-grown systems, the level of innovation is probably in the same decade.
Technology is not the only enabler of change and innovation; adaptability and open knowledge sharing are some common denominators when it comes to blending innovation and technology with strategy.
Adaptability: Innovation means the organization can be flexible when things happen. An adaptable organization doesn’t get set in its ways but looks for new ways to operate in a changing environment. Technology changes at the speed of light and requires organizations to move fast and think fast so they can be open to what can we do? versus what is happening right now?
Being open minded to possible changes on the horizon is necessary to keep pace with developing technologies.
Open knowledge sharing: How an organization distributes information to the right people at the right time can determine not only how collectively smart the organization is but also how quickly and reliably data is applied to problem solving. If information is hidden or hoarded, little knowledge is shared; when technology is used to its fullest, the technology can enable an organization to operate with more open processes and knowledge.
Just having the latest and greatest technology doesn’t create an innovative organization; the technology must be used to improve processes across the company and to enhance customer value.
Changing with technology is not just about adopting new technologies. From a product and service development perspective, it is about creating those technologies to be ahead of the curve — not just to keep up with the curve. This is where innovation comes in.