SCALING INNOVATION COULD BE THE KEY TO BUSINESS SUCCESS

Innovation and scaling should be treated as two different beasts, Capgemini says.

Businesses are racing to innovate and adopt new technologies, but being unable to properly scale is hampering efforts to properly respond to both disruptions and opportunities.

This is according to a new report from the Capgemini Research Institute, based on a poll of 40 senior executives from global enterprises, which argues that large organizations must treat generating and scaling innovation as separate entities.

Innovating and successfully scaling innovation are two distinct functions, Capgemini says, and often therefore require a different mindset and skillset.

The problem lies in the fact that not many organizations make this distinction. Instead, innovation generation often focuses on high-impact, “blue sky” concepts and projects designed to solve an unmet customer need. Businesses seldom focus on viability and feasibility, which are vital.

“By treating scaling innovation as a separate discipline, organizations can ensure that they bring in teams or individuals that are more focused on the viability and feasibility of innovation right from the start of the ideation phase,” the report states.

Further, the report argues that the Covid-19 pandemic proved positive for innovation and scaling, because it instilled a sense of urgency.

“By continuing to model operations to a sense of urgency, organizations can apply the learnings from the pandemic period for the long term," said the report.

“In these times of crisis, Capgemini has found that organizations have made significant strides to tackle bureaucracy, streamline processes, restructure workforces, and empower front-line leaders.”

Source: https://www.itproportal.com/news/scaling-innovation-could-be-the-key-to-business-success/