In this era of absolutely instant obsolescence, business needs to know what's happened in the last 10 minutes. Organizations are faced with the challenge and opportunity of the high-velocity economy. Rapid growth, collapsing product lifecycles, and the need for a focus on" time to market", all these characterize the competitive business landscape of today, around the world. I like reading this piece by Jim Caroll, where he points to high performing organizations adopting the innovation streak in a more formidable way in these changing circumstances. He finds that such winning organizations, who run faster and focus on being innovative have some common denominators amongst their processes:
• operational excellence is a major focus
• there are high expectations for growth, and an IT infrastructure that enables such growth
• they have a need for instant, need driven relationships with their partners
• they focus on rapid agility for new market demands
• they are religious on "fast time to market"
• they focus on quick marshalling of resources to accomplish velocity
• they provide for instant scalability, given market volatility and rapid change
Labels: Emerging Trends, Innovation
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