Expanding the Innovation Horizon - IBM's The Global CEO Study 2006 report

According to the IBM Global CEO study 2006 is an document every manager should read. The document based on the study by IBM with Economist Intelligence Unit is based on interviews with 765 Chief Executives from around the world. The report offers a number of suggestions, including the following considerations that can help the business organizations to become more effective when embracing innovation:

• 'Think broadly, act personally and manage the innovation mix'.
• 'Make your business model deeply different'.
• 'Ignite innovation through business and technology integration'
• 'Defy collaboration limits'
• 'Force an outside look ... every time'.

In the past innovation was recognized as a critical strategy for developing products, services & new markets, as well as innovation that enhances operational efficiency. The Report citing the findings highlight the importance of business model innovation. Successful business corporations pay attention to all three areas of innovation . Business model, Operation and products/services & markets.

Anyone who is serious about incorporating innovation as a corporate strategy, must recognize the need to introduce systems in place that will encourage collaboration. The collaboration does not stop with team structure, an element of the new organisation design but extends to other critical stakeholders - customers and busines partners as well. The IBM report cites the customers and business partners as the main source for innovative ideas.

The changes in the organizational structure and establishing new strategic partnership are the two major areas of innovation under the business model of innovation. Why should anyone be interested in adopting business model of innovation? According to the report, the innovators of the business model enjoy a number of benefits, including cost reduction and strategic flexibility.

The operational innovations were generally aimed at making the business operations more responsive to ever customers. Operations that are slow, costly and that are no longer relevant are dumped. Successful operational innovators use IT and technology for optimum performance efficiency. The repost cites a number of successful corporate examples.

The life span of products and services are getting shorter. This would mean, organizations are under pressure to continue to innovative their products and services.

Anyone who want to survive, grow and continue to thrive in the global business environment should read the IBM report.

Expanding the Innovation Horizon

Happy reading.

John

Arul John Peter, co-owner of Centre for Creative Thinking, a training agency based in Singapore (www.creativityasia.com), facilitates training workshops on creativity and related soft skills for clients in Asia and Middle East. As a Trainer, John facilitates management seminars and workshops in the areas of Creative Thinking, Supervisory Skills for new managers, EQ Skills for Team Leaders, Customer Service Excellence, Managing Difficult Customers, Communication Skills, Change Management, Personal Development Workshops, and Public Speaking Skills. He holds an MBA and majored in strategic human resource management. He is a member of the American Creativity Association.

Creative Thinking - A Powerful Tool To Sustain Organisational Success

Since the publication of Thomas Friedman’s book ‘The World Is flat’ with accounts of the major changes that are happening at present, there is a renewed interest among business organizations about gaining and sustaining competitive advantage. Rapid changes in the IT, technology and communication put pressure on business firms to respond more promptly to the challenges. Managers and employees at all levels need to respond effectively to the threats and opportunities. It is the ability to think creatively on the part of the employees that is going to make all the difference.


To cope with the challenges created by the ‘World is Flat’ phenomenon, managers and employees need to become innovative in their thinking when seeking possible solutions to problems. There are several barriers we need to overcome when traveling on the road to success. The barriers relating to systems and people can be managed successfully only when we are prepared to tackle them through creative approaches. In the past we believed that knowledge is power. In the present flat world, it is the ability to imagine and seek creative and innovative solutions using the knowledge is the power. That is the way to sustain business success.


Organisations that are serious about becoming and sustaining their competitive advantage must be prepared to train and develop their employees to think creatively so that they can work on innovating the process, system, product and practices. Managers must incorporate the creative problem solving approach as part of their decision making process.


Creative thinking enables business organizations to think and merge information, existing ideas and practices into new ideas. Only then business firms can move on to convert the ideas into practical product or services. Creating the right work environment requires lot of effort and planning on the part of managers. Creative thinking is the powerful tool to garner and sustain your competitive advantage.