Although the days of incremental tweaking aren’t entirely over, winning means creating break-through innovation. That calls for organizational structures that are nimble, open to new input from extended ecosystems to drive a higher percentage of breakthroughs. And working in tandem with consumers.
Yet most organizations are stuck in “small change” mode. Using outdated methods and expecting innovative results. In fact, fully 80% report that they are still using an outdated approach to innovation.
Companies should adopt a total solution mindset that creates a specific customer experience driven through an ecosystem of partners. And focus on creating customer experiences and building the ecosystem that supports those experiences.
They also need to change their mindset: from approaching innovation as one person/department’s wheelhouse to seeing it as the secret sauce that’s created when bringing different disciplines together.