Fortune 500 companies need to get smart about social business -- and fast. I can't emphasize enough how important it is for senior teams -- from the CEO on down -- to buck up and get educated on what social means and how it should be implemented throughout the organization.
Speed. Age. Glocal. Uncertainty. Innovation. I hear business leaders actively talking about these trends as separate entities. But it is clear to me that they are interrelated and must be taken as a whole to sustain profitable growth in this new age.
What's clear from the last year in business is that companies that achieve high, or even healthy growth, have the ability to focus, perceive all the options, choose one or several realities with great market appeal, innovate around them and continue to do so persistently.
There are some people who know everything about social media. There are others who know everything about hip hop. Me? I know everything about excuses -- or at least the kind of excuses that people who work in organizations make about why they can't innovate.
There is never a shortage of new ideas. But there is always a shortage of great talent to reveal their commercial potential. Lucky for the daily innovator, smart people want to work on promising projects. It's a character trait you can use to advantage when building a team.
Taken together -- innovation and the approach of looking at the cost competitiveness through the eyes of a private equity company -- thought leaders at our recent conference gave CEOs an important new perspective to achieve sustainable profit growth.
As businesses struggle to remain on top and come out with products that corner and change the market place, I wonder where this innovation comes from? Is it simply that business executives try to hire creative people, or some people are creative and some aren't?
The scientists and engineers who went to America might not all have founded technology companies, but through their work at private research labs, government research institutions, universities and startups, laid the foundations for America's technological prowess.
Almost every large company understands it needs to build an organization that deals with the need for continuous innovation, globalization and regulation. But there is no standard strategy and structure for creating corporate innovation.
If you can find a way to unlock the primal mojo of your workforce, you won't need to manage as much as you do. You won't need to rely so heavily on incentive plans, performance reviews, pep talks, frowns, and punishment.
Business Models are the corporate blueprints for generating revenue. Developing innovative business models and low-cost methods for establishing their validity and action ability can, therefore, offer huge competitive advantages.
We can't ignore practical solutions that may have less sparkle, but incredible power to improve life and the environment. Less flashy incremental innovation, coupled with behavior change, can create dramatic sustainability results.
Research has shown that creativity is not a genetic predisposition but a result of a pattern of behaviors -- so it can be concluded that all innovators must share a certain set of characteristics that have lead them to success.