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Most innovators don’t have a technical background, so it’s hard to evaluate the truth of the situation. And unless they have a tech background, they can’t look under the hood themselves. The answer is to engage a trusted outside source for a TechnicalReview – a deep-dive assessment that provides a C-suite perspective.
I keep telling clients: just because a new AI tool is exciting, DO NOT GIVE IT ACCESS TO YOUR COMPANY DATA without proper duediligence. In the fast-paced world of business technology, AI tools promise efficiency and innovation. And if youre managing multiple people on projects, the lure is even stronger. For how long?
This report is a follow up to the amazing InnoLead reports I have previously written and spoken about, including the one which outlined how over time companies planned to invest more and more in adjacent and transformational innovations. So let us go into some of the most important data points highlighted by the report: 1.
Take it from Byrdy Kelley — CEO and founder of Melan Property Management as well as REAME, a real estate techcompany — who has broken through challenging barriers in the male-dominated industry. Virtual technology. During the pandemic, technology also changed the game. Changes in income.
Just by embedding analytics, application owners can charge 24% more for their product. How much value could you add? This framework explains how application enhancements can extend your product offerings. Brought to you by Logi Analytics.
These core competencies are the capabilities, knowledge, processes, and assets that set a company apart from its competitors and drive long-term success. Prahalad and Gary Hamel, the concept of core competence highlights that companies should focus on their distinct strengths rather than trying to be good at everything.
It is particularly useful in rapidly changing environments where flexibility and adaptability are critical. It provides a structured method to think through business design, adapt to market changes, and scale innovation efforts. Define Customer Relationships Explain how your company interacts with each customer segment.
S-Curve Mapping is a strategic innovation tool used to understand the evolution and performance trajectory of technologies, products, services, or entire industries. By mapping where a product or technology lies on the S-curve, organizations can better allocate resources, decide when to innovate, and anticipate market transitions.
Why a Strategy Uncertainty Map is Important Every business faces uncertainty in areas like market trends, competitive shifts, technological advancements, regulatory changes, and economic fluctuations. Key questions to consider: What business goals or strategic initiatives are at risk due to uncertainty?
Speaker: Sean Baird, Director of Product Marketing at Nuxeo
Exploding volumes of new documents, growing and changing regulatory requirements, and inconsistencies with manual, labor-intensive classification requirements prevent organizations from consistent retention practices. He will highlight real-world successes and analyze the key strategies and technologies that help organizations find balance.
For example, Apple analyzes the Five Forces to manage supplier relationships, differentiate its products, and maintain pricing power in a highly competitive tech industry. Without this structured analysis, companies risk underestimating threats, overpricing products, or misallocating resources. Switching costs for consumers.
By intentionally diversifying innovation investments, companies can sustain day-to-day operations, capitalize on near-term opportunities, and simultaneously prepare for future shifts in market dynamics or technology. This structured approach helps companies avoid innovation imbalance.
Elizabeth Francisco, president of ResMan, offers expansive insights from being a woman in business to the rapid advancement of property management technology. Bias showed itself as I came up through the multifamily industry and then in technology with investors, peers, competitors, and prospective customers.
A panel of retail experts share their insights on the future of retail technology, the challenges it poses, and how it can be utilized to improve the customer experience and boost profits. What long-term changes do you foresee the ongoing pandemic having on the retail industry? Steve Prebble CEO, Appriss Retail.
Why do some embedded analytics projects succeed while others fail? We surveyed 500+ application teams embedding analytics to find out which analytics features actually move the needle. Read the 6th annual State of Embedded Analytics Report to discover new best practices. Brought to you by Logi Analytics.
In our minds, technology and innovation are interconnected. However, for every technological advancement, there seems to be a learning curve or adjustment period as we try to figure out how to implement automation into our daily lives. Technology: One Step Forward, Two Steps Back? source: pixabay.com. 1 The Devil in Design.
Disruptive Innovation is not just about technological breakthroughs. It highlights the dynamics of industry change and offers a lens through which teams can identify transformational opportunities. Individuals or groups excluded from the market due to cost or complexity. Users who rely on DIY or workaround solutions.
The ability to access cutting-edge research, market insights, and technical know-how from a wide network is a key driver of innovation. Agility and Adaptability : Ecosystems are naturally adaptive due to their diversity and interconnectedness. This resilience is increasingly important in a rapidly changing world.
First Mover Advantage: A Practical Guide for Strategy Projects First Mover Advantage (FMA) is a strategic concept where a company gains a competitive edge by being the first to enter a new market or introduce a groundbreaking product or service. What is the First Mover Advantage? How First Mover Advantage Supports Strategic Decision-Making 1.
Why do only a third of the organizations worldwide have formal innovation metrics in place despite accepting that innovation is critical to survival? Download this eBook to learn about the 5 basic principles that guide every successful innovation process.
For example, a technologycompany using Gap Analysis may discover that its software deployment speed is slower than competitors , leading to a plan for process improvements and automation. For example, an e-commerce company may analyze its customer service response times to determine how to improve resolution speed.
Identifying and managing these factors ensures that companies allocate resources efficiently, mitigate risks, and maintain a competitive advantage. Adapt to market changes while maintaining core competitive strengths. Strengthens competitive positioning Ensures the company excels in key areas that differentiate it from competitors.
The Four Key Factors in Porters Diamond Model: Factor Conditions The availability of critical resources such as labor, capital, infrastructure, and technology. Chance Events Unpredictable events such as technological breakthroughs or global crises that impact industries. What level of technological development and R&D exists?
Artificial Intelligence (AI) is revolutionizing various industries, and change management is no exception. By integrating AI into change management processes, you can gain deeper insights into employee behavior and enhance the effectiveness of your change initiatives. This leads to sustained improvements and long-term success.
Director of Communications, Integrated Benefits Institute The Integrated Benefits Institute’s recent analysis estimates that the cost associated with the loss of work hours due to COVID-19 is $213.1 A company culture that fosters flexibility and transparency is key to employees feeling comfortable, valued, and supported.
Benchmarking is a strategic process that involves measuring an organizations performance, practices, or processes against industry leaders or top-performing companies. It now applies across business functions, including customer service, technology, marketing, supply chain, and product development. Customer reviews or rankings.
Digital safety has never been more important in our increasingly technology-driven world, as the pandemic forces professionals and students to adapt to working and learning from home. . Additionally, companies should consider enforcing the use of password managers to store, generate, and manage their passwords. Secure Your Wi-Fi.
I'm returning today to one of my favorite activities - a book review. The book I'm reviewing today is entitled What about the Future? It was written by Fred Phillips, who is a professor and also the editor of the journal Technological Forecasting and Societal Change.
White Space Innovation is a strategic framework used to identify and pursue growth opportunities beyond a companys current product lines, markets, or business models. Companies that embrace White Space Innovation aim to break out of stagnation, stay ahead of disruption, and create long-term competitive advantage. Culture (e.g.,
In a world where thousands of startups emerge each year, companies looking to stay competitive need to engage actively with this innovation ecosystem. Startups often bring fresh ideas, new technologies, and agile development approaches, but identifying the right ones to collaborate with or invest in can be complex.
For example, a retail companys strategy map might link its customer satisfaction goals to investments in employee training and supply chain efficiency , ensuring a holistic approach to business growth. Learning and Growth Employee development, technology investment, corporate culture. HR teams investing in tech talent development.
In an environment where companies constantly seek innovation, launching new products or services without proper evaluation can lead to wasted time, effort, and financial loss. This involves: Reviewing top concepts with key stakeholders and decision-makers. Lead Successful Change Management Projects!
Why a SWOT Analysis is Important A SWOT Analysis provides a holistic view of a companys strategic position by examining both internal and external factors. Identifies competitive advantages Highlights what the company does best. Aligns Strategy with Market Trends Ensures that internal capabilities align with external changes.
Are we achieving specific business results that make these massive technology investments worth it? For every dollar a typical company invests in software development, only about 25 cents supports the companys highest-priority business outcomes. These questions are worth asking because, alarmingly, the answer is often no.
It should be: Clear and inspirational Aligns with the companys vision. For example, Amazons strategic objective may be : To become the worlds most customer-centric company by delivering unparalleled convenience, selection, and service. Investing in battery technology to enhance range and performance.
It hammers out who you are, your dreams, and what’s at the core of your company. Spotting Your Innovation Chances Kicking things off with innovation means you’ve gotta sniff out those golden opportunities for creativity in your company. Vision Statement : Where do you see yourself in the long run?
Company leaders are losing focus on well-being—but their employees aren’t. But as the world deals with historic change, a worrying trend has emerged: Employers scaling back support for employee mental health. For example, an employee having trouble sleeping due to anxiety can find tools specific to that problem on the platform.
The gender gap in tech is persistent, but it can be addressed by offering resources, fostering inclusive workplaces, and implementing policies that promote equity. The gender gap in tech remains due to a number of factors including lack of job security, gender bias, and work-life balance issues.
In todays competitive market, companies must ensure that they are investing in ideas that meet real customer needs and expectations. Without proper validation, businesses risk launching products that fail due to misalignment with market demand. Lead Successful Change Management Projects!
The image here is the list of exactly which capabilities your company needs to succeed at innovation. Almost every business leader will tell you that they value innovation and that it is a positive & important factor for their company. Now, I’m going to outline step by step what enables a company to deliver those ideas.
For example, Teslas success in the electric vehicle industry can be attributed to a strong market demand (Market Attractiveness), innovative technology (Sustainable Competitive Advantage), and strong supply chain relationships (Connectedness Across the Value Chain). These could include: Unique technology or intellectual property.
A well-executed Competitive Analysis goes beyond simply monitoring competitors; it involves deep research, data-driven comparisons, and actionable insights that empower companies to maintain a competitive edge. Anticipate market shifts Stay ahead of industry changes and competitor moves.
These goals align with the companys vision, mission, and values and provide a roadmap for achieving sustainable growth and competitive advantage. Unlike operational goals, which focus on day-to-day tasks , strategic goals set the foundation for long-term success by addressing: Market positioning How the company competes in its industry.
For example, IBM has successfully used the Balanced Scorecard to align its technology strategy with customer needs, internal efficiency, and long-term financial performance. These objectives should align with the companys mission, vision, and competitive positioning. Improve communication and coordination across departments.
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