You can tell whether a business has innovation potential by the way it leads and its priorities; both are critical measures of innovation. The first one, leadership, I’ll focus on here.
The Next Economy will be driven by 10 key emerging technologies, which are being deployed at scale by GAFA (Google, Apple, Facebook, Amazon) and Microsoft; among others.
This is a new world, where you’re either a digital business or a dead business; and requires a different type of leadership.
We live in a fast moving, complex and uncertain society where industries lines are fading. It’s always been this way, but the accelerating adoption and integration of technology somehow makes it more pronounced and obvious that everything is indeed connected. In this environment, people and companies that survive and thrive are those who know how to learn; fast.
As you may have read before on my blog; I’m a gamer. Have been since my mom gifted me the original Nintendo. As gamers, we all have our list of all-time favorite games. For me, at the top of the list sits the Metal Gear Solid series from Hideo Kojima. While I like the series for many reasons – the sci-fi military angle, the game play, the characters and stories – the attention to detail paid by its creator is what gets me hooked the most; it’s inspiring.
Innovation has many enemies, but the one you can count on to rear its ugly head all the time is expertise. You see, true innovation is something new, surprising and radically useful; it’s an order of magnitude better than what currently exists. Expertise driven innovation results in incremental improvements, which is good for stability; but it hinders progress when it comes to making leaps.
We’re living in exponential times, the Big 5 tech companies – Microsoft, Google, Amazon, Apple, Facebook – occupy the top 6 spots of the most valuable companies in the world, thus driving the Next Economy. It’s safe to say that we live in a world dominated by technology.
This means the way we work, collaborate and do everything on a daily basis changes; and organizations that don’t adapt will certainly become irrelevant.