Being Innovative in the Fast Paced Industry
In a dynamic industry where innovative ideas are valued for quick execution and first-to-market products generally fare better, problems tend to arise. In addition, existing market leaders require the foresight to predict incoming changes in the marketplace environment and in order to adapt the organisation to reflect these changes.
To quote the late Steve Jobs, ‘stay hungry, stay foolish’. Embracing complacency and failure to adapt to marketplace changes may cause even the most dominant of market leaders to lose their footing as seen through the failure of giants such as Blockbuster and Kodak.
Participants undertaking this research project should identify root causes of problems rather than symptoms, in order to create a long-term, more sustainable, solution.
One possible solution is to undertake short-term projects as a possible vehicle to uncover potential problems. Other potential solutions include effectively embedding techniques into the organisation and building on a medical example.