Innovation in technology is the biggest challenge that companies face. However, it can also be a good thing for companies as well. There are several things a company must do in order to successfully beat the challenged posed by innovation. They must execute their business model to the best of their ability. They must also make improvements and keep improving on them. If a business is able to keep up with the trends in technology innovation, it will have success.
Key Takeaways:
- Innovation is an imperative. Fortune 500 CEOs cited dealing with the rapid pace of technological change as their “single biggest challenge.”
- More than half of CEOs in a PWC global survey ranked R&D and innovation as generating the greatest return.
- Innovation is often thought of as the “B” process, which is to improve the organization’s ability to perform A.
“In my experience, however, too few are being innovative in how they innovate. This is the difference between buying fish and learning how to fish.”
http://www.forbes.com/sites/chunkamui/2017/01/10/abcs-of-innovation/
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