You're not in startup mode. So who’s accountable for innovation?

Learning Centre > You're not in startup mode. So who’s accountable for innovation?

Blame it on the market, the culture or even the technology. Whatever your answer, it's clear we're at a fork in the road .

Blame it on the market, the culture or even the technology. Whatever your answer, it's clear we're at a fork in the road .Blame it on the market, the culture or even the technology. Whatever your answer, it's clear we're at a fork in the road .
Contents

Blame it on the market, the culture or even the technology. Whatever your answer, it's clear we're at a fork in the road — and both paths divert us from what we view as one of "innovation's" primary purposes: creating value for customers and their lives.

We used to be able to count on innovation being the engine of new value. Innovation, after all, is generally viewed as a form of disruption—as something that creates entirely new ways to deliver value. And it's disruptive because it goes against the status quo and, as such, frequently runs into resistance.

But we cannot innovate our way out of this problem anymore — and that has nothing to do with lack of talent or ideas. We can't even innovate our way out of servicing today's customers better. The context for innovation is fundamentally changing.

First, the bar has been raised. In a world of social, mobile and cloud technologies, customers have more options to connect with products and services than ever before — they can build their own, most likely with better quality control. And at the same time, they are both more demanding and less patient as access to information is virtually immediate. They have immediate access to the best products and services from every corner of the market — and this access creates a sense of entitlement.

Second, we're more connected than ever — at least digitally — to the people and things that matter most to us. We can talk with our friends and family any time we want; we know what they like and dislike; we know what makes them happy or sad; but most importantly, we know what they're doing and how we can be a part of it. The social graph (and the data it provides) and mobile devices allowed us to become more connected, making us work and play harder — whether we like it or not. And our connectedness is no longer limited to people; we are just as connected to things that matter most to us — from our homes to our cars.

All of this is already impacting how we work and live, but it's still just a glimpse of what's possible. In the not-too-distant future, everything will be connected in real-time to everything else all of the time.

With this next phase of the digital revolution, the path to success will require a whole new mindset. The culture of entrepreneurship that transformed innovation into an engine for value creation won't be enough anymore to meet the demands of this new world.

In other words, you're not in startup mode anymore.

In this new world, the engine of innovation is no longer about creating a new market — it's about connecting all aspects of our lives in a way that makes them better. And while it will be disruptive to incumbent industries and company cultures, the value isn't going to come from displacing what exists; it's going to come from establishing trust and adding value to people's lives by connecting what exists in a whole new way.

For the innovation engine to shift from creating new markets to connecting all aspects of our lives, we need a shift in accountability for this next phase of digital transformation—a shift away from companies and toward customers.

Innovation is no longer owned solely by entrepreneurs, startups or even companies. Innovation starts with customers and other stakeholders who are going to expect the connection of every aspect of their lives — from work to life management, from home to auto, from our physical health to other parts of our well-being outside the walls of a company.

If "innovation" is a term no longer owned by companies, then who owns it?

The reality is that innovating in this new context will require a whole new approach. While entrepreneurs, startups and companies will still play an important role in the process of connecting our lives, their role must shift from creating markets to adding value to people's lives; they'll need to understand who the customer is and what they care about, be nimble in their decision making and create the right partnerships to bring new ideas to market.

Most importantly, innovators must become accountable for people's experience with what they offer. They will no longer only get the opportunity to sell an idea or service; customers will get to decide whether they want it or not.

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Blame it on the market, the culture or even the technology. Whatever your answer, it's clear we're at a fork in the road — and both paths divert us from what we view as one of "innovation's" primary purposes: creating value for customers and their lives.

We used to be able to count on innovation being the engine of new value. Innovation, after all, is generally viewed as a form of disruption—as something that creates entirely new ways to deliver value. And it's disruptive because it goes against the status quo and, as such, frequently runs into resistance.

But we cannot innovate our way out of this problem anymore — and that has nothing to do with lack of talent or ideas. We can't even innovate our way out of servicing today's customers better. The context for innovation is fundamentally changing.

First, the bar has been raised. In a world of social, mobile and cloud technologies, customers have more options to connect with products and services than ever before — they can build their own, most likely with better quality control. And at the same time, they are both more demanding and less patient as access to information is virtually immediate. They have immediate access to the best products and services from every corner of the market — and this access creates a sense of entitlement.

Second, we're more connected than ever — at least digitally — to the people and things that matter most to us. We can talk with our friends and family any time we want; we know what they like and dislike; we know what makes them happy or sad; but most importantly, we know what they're doing and how we can be a part of it. The social graph (and the data it provides) and mobile devices allowed us to become more connected, making us work and play harder — whether we like it or not. And our connectedness is no longer limited to people; we are just as connected to things that matter most to us — from our homes to our cars.

All of this is already impacting how we work and live, but it's still just a glimpse of what's possible. In the not-too-distant future, everything will be connected in real-time to everything else all of the time.

With this next phase of the digital revolution, the path to success will require a whole new mindset. The culture of entrepreneurship that transformed innovation into an engine for value creation won't be enough anymore to meet the demands of this new world.

In other words, you're not in startup mode anymore.

In this new world, the engine of innovation is no longer about creating a new market — it's about connecting all aspects of our lives in a way that makes them better. And while it will be disruptive to incumbent industries and company cultures, the value isn't going to come from displacing what exists; it's going to come from establishing trust and adding value to people's lives by connecting what exists in a whole new way.

For the innovation engine to shift from creating new markets to connecting all aspects of our lives, we need a shift in accountability for this next phase of digital transformation—a shift away from companies and toward customers.

Innovation is no longer owned solely by entrepreneurs, startups or even companies. Innovation starts with customers and other stakeholders who are going to expect the connection of every aspect of their lives — from work to life management, from home to auto, from our physical health to other parts of our well-being outside the walls of a company.

If "innovation" is a term no longer owned by companies, then who owns it?

The reality is that innovating in this new context will require a whole new approach. While entrepreneurs, startups and companies will still play an important role in the process of connecting our lives, their role must shift from creating markets to adding value to people's lives; they'll need to understand who the customer is and what they care about, be nimble in their decision making and create the right partnerships to bring new ideas to market.

Most importantly, innovators must become accountable for people's experience with what they offer. They will no longer only get the opportunity to sell an idea or service; customers will get to decide whether they want it or not.

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Farm+Stable is a client of Innovolo, a product development as a service provider offering R&D teams globally extra capacity, capability, and momentum in their product development and obsolescence management projects. As a company that specializes in the development and engineering of products for the agriculture and construction industries, Farm+Stable has benefited from Innovolo's expertise in helping to bring new products to market quickly and efficiently. In particular, Farm+Stable has been able to rely on Innovolo's team of experienced engineers to help with the design and development of a new line of products that are designed to be more durable and longer-lasting than previous models. With Innovolo's help, Farm+Stable has been able to bring these new products to market in a timely manner, and they have been well-received by customers. Thanks to Innovolo's innovative product development solutions, Farm+Stable has been able to stay ahead of the competition and continue to grow their business.
Innovolo is a product development as a service provider. It offers R&D teams globally extra capacity, capability, and momentum in their product development and obsolescence management projects. Its services are used by clients in a variety of industries, including automotive, aerospace, consumer electronics, and medical devices. One of its clients is Kawneer, a leading manufacturer of aluminum products for the architectural and construction industries. Kawneer has been using Innovolo's services to help develop new products and to manage the obsolescence of its existing products. Thanks to Innovolo, Kawneer has been able to speed up its product development cycle and to reduce its costs. As a result, Kawneer has been able to bring new products to market faster and to better meet the needs of its customers.

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