Design thinking is gaining popularity among managers as a means to spurring creativity in innovation and problem solving. With design thinking, multidisciplinary teams work visually to see through the complexity of their project. Several Cutter Consortium authors have been exploring design thinking and how investing a meaningful amount of time and resources to thinking actively about the future, with transdisciplinary, collaborative teams based can help run an innovative organization. Transdisciplinary Collaboration According to Cutter Senior Consultant Edgar Barroso, in order to create new products and services, build startups, solve unexpected problems, and design projects, organizations need to think about the future in a transdisciplinary manner and come up with ideas that might be implemented three Read more
Posts Tagged 'Innovation'
It could be argued that digital technologies present more profound and disruptive opportunities and threats to established business models than anything that’s come before. In Digital Disruption of Business Models: The Mass Mitec Story, David Wortley charts the digital transformation of Mass Mitec, a UK-based small-to-medium enterprise, via a disruptive digital technology in the 1990s and uses the story to illustrate the potential and dangers of digital disruption. Even though Mass Mitec had a very good understanding of the evolution of the technologies upon which its business models were based, and the organization had built a business development plan that reflected that evolution, it seriously failed to properly secure or exploit the business and contractual arrangements Read more
State Street Corporation’s Advanced Technology Research Centres in Europe, the Middle East, and Africa (EMEA) and Asia Pacific (APAC), University College Cork (UCC) and Zhejiang University (ZJU), are proving that higher education and business organizations can successfully conduct R&D that benefits both academia and business. The joint research efforts have informed and benefited multiple stakeholders in the financial services ecosystem, including international standards bodies, customers, other financial services companies, and academia on how to efficiently integrate various fintech technologies, platforms, and systems together. Cutter Business Technology Journal recently published an issue dedicated to some of this research. The four articles included focus on semantic ontologies, next-generation robo-advisors, tools supporting internationalization and localization of legacy systems, and Read more
There’s hardly an organization that doesn’t strive to be innovative. But even well-managed companies struggle with it. Cutter Senior Consultant Borys Stokalski and Bogumil Kaminski report there are typically two points of failure for establishing a working innovation engine: Point of Failure 1: Lack of Clear Innovation Governance According to Stokalski and Kaminski, while companies think hiring creative people will automatically result in innovation, that is seldom the case. Instead (in addition?), you need to ask questions about the type of innovation that is required by your business strategy, that is, you need to engage in innovation governance. Innovation governance is critical to organizing for efficient innovation. How do you do it? Consider questions like, Read more
We recently asked Cutter Senior Consultant San Murugesan a question: If you consider the transformation of business to be phenomenal thus far, what do you expect the future of business will be? He answered our questions in his opening statement of a Cutter Business Technology Journal issue focused on the business opportunities in the new digital age: “Well, it’s definitely not going to be ‘business as usual.’ The business landscape is poised for an unprecedented wave of further innovations and changes. How these will emerge, who will be the leading players in different sectors, and how the changes will affect us — average people in both advanced and developing countries, young and old — are Read more
Is there a case for blockchain in your organization? Cutter Business Technology Journal contributing authors Steven Kursh and Arthur Schnure recently argued that companies should begin considering which parts of their organization might benefit from blockchain. Among their advice to CIOs and CTOs is to look for areas of friction when it comes to exchange of value or information that would benefit from a blockchain implementation and profit from a shared ledger system. Write Kursh and Schnure, “Take a page from IBM, which announced in July 2016 that it plans to implement a solution to help its finance division resolve client and partner disputes. IBM believes the new system — one of the largest commercial rollouts of Read more
By asking the CEOs of some of the most successful and influential companies in the world, such as GE and Google, a clear definition of innovation management emerges. The definition addresses the need to quickly and effectively implement organizational goals and objectives to remain competitive and the desire to strengthen advantages through the adoption of innovative ideas, products, processes, and business models. Enterprises facing increasing competition and the pressure of technological innovation are beginning to realize that to drive organic business growth and maintain a competitive advantage, they need to discover and implement innovation quickly and with great care to ensure maximum value. One-off innovations are moderately easy to take advantage of, but to create a pipeline of Read more