Paul Tate, the Research Director and Executive Editor at Frost & Sullivan’s Gil Community, a leadership community for manufacturing, recently posted the article “Innovation Urgency: A Framework For Success?” It details what an organization needs to do to stay competitive and be considered one of the top innovators in today’s fast paced markets. The competition is fierce with pressure from customers and stakeholders driving the high expectations.
At the Growth, Innovation and Leadership conference, Angel Mendez, Cisco’s Senior Vice President of Transformation and a member of the Manufacturing Leadership Council’s Board of Governors, shared his insights on how to effectively drive innovation:
“‘Right now there isn’t sufficient growth in most industries to put wind in a company’s sails by just focusing on internal business productivity initiatives,’ argued Mendez. ‘The fast moving turbulence of global markets, the short lead-times between new ideas and industrial commoditization, and the continuing explosion of customer demands for innovation excellence make innovation a huge issue today. This is not an intellectual exercise or a thought experiment any more. This is really urgent.'”
In the article, Tate outlines what Mendez considers to be the best way companies can allocate their innovative efforts: a systematic approach. By utilizing strategic alignment, successful idea generation, proactive management of innovation portfolios, and building a collaborative culture, manufacturers can overcome obstacles in their innovation pipelines.
A systematic framework as such has the potential to make a real market difference with new ideas more attainable.
To access the full article, click here.