The future is indeed now. The Internet has not only provided companies with another sales channel and communications tool, it has helped restructure the very basic concepts of time and place: Businesses must anticipate and meet customer needs quickly, in any location, at any time. Unfortunately, many close-minded, entrenched organizations lack the courage to change their ways for the betterment of their employees, customers and shareholders.
These companies will falter in the coming age of revolution and the changes in marketing. Companies that continually reinvent themselves and their industries will be able to survive in an era in which radical innovation will be the best — if not the only — source of new wealth.
“Gray-haired revolutionaries” who are leading the way in innovative thinking, development and management, know that;
● The age of incremental change is over. As a result, incumbency no longer holds the protections it once did.
● The revolution is based on innovations in business concepts: radical “reconceptions” of existing business models in ways that create new value for customers, rude surprises for competitors, and new wealth for investors.
● The need for business concept innovation stems in part from the diminishing returns of old ways of doing business — reengineering, cost- cutting, cutbacks, and the like — that focused on maintaining, rather than changing, the way business was conducted.
● Activists are leading insurrections within companies struggling to adapt an old business model to someone else’s business concept innovation.
● Companies can reshape themselves into perpetually innovative organizations, by continually engaging in a cycle of idea generation, experiments, assessments and implementations.
So what does it take to be a change agent? It takes;
(1) Vision- Someone who can accurately translate where you want to go and energize people to get their.
(2) Knowledge – Having a lot of data doesn’t mean a hell of a lot if you don’t understand what the data is telling you. Smart people know the right questions to ask but more importantly they know what they don’t know and what follow up questions need to be asked.
(3) They win small battles to gain new ground. Change is best when it’s evolutionary not revolutionary.
(4) They have the courage to ask “why ?” or “why not ?”
(5) They are not satisfied with the status quo. Want to really get them upset ? Tell them “this is the way we have always done it” or “this worked before”.
What we are seeing and learning is that the window of opportunity to innovate is becoming smaller and tighter. My Space is learning this the hard way as their new approach to social media may be too late to gain back market share lost to Facebook and Twitter which have been consistently innovating their business models.
- Wired up for a new business model? (onemanandhisblog.com)
- Managing the Uncertainty of Open Innovation (customerthink.com)
- The DNA of a company: How social media is impacting business models (socialmediaportal.com)
- Adapt Or Die (twistimage.com)
- Business model versus technology innovation (entresociety.com)