Are you confident with your business’ innovation readiness?

by Lars-Goran Larsson on November 2, 2011

Could innovation readiness be the key to long term business survival? In the cross roads of commodity and niche markets opportunities arise for turning a business into new dimensions by simply remake your business model. Do you really want to see your company become a commodity business player with slim margins where only volumes are the name of the game? Or, do you see the opportunities emerge by simply rethinking your business model to satisfy the deeper and more sensitive needs expressed in the hearts of a niche market?

Continue to do what your business is best at. But place yourself outside the box for a moment and rethink the real values you are bringing to the market. Remember, we are now rapidly moving from a world driven by ‘hard’ values towards a world governed by ‘soft’ values. This means that a ‘product’ might not only be a ‘product’ defined by its obvious technical functionality – but rather it represents some essential new values for the customers or users, that you haven’t grasped before. In this simple fact lies the opportunity for ‘cheap’ differentiation and reach of premium prices markets.

Innovation readiness is all about understanding those mechanisms and the ability to swiftly adhere to the new opportunities that now are brought to the business arena. Acting methodical, swift and fast in the response to these changes in attitudes and consumer behaviour is imperative in order to stay in the market and continue keep margins up at healthy levels over time. This is Innovation Readiness. Do you feel confident your company is ready and geared to cope with these challenges?

About Lars-Goran Larsson :

Lars-Göran Larsson, Senior Advisor in Bearing, resides in Sweden and consults internationally. He has spent most of his career in executive positions in the private corporate sector and in the cross-roads of public-private partnerships.

The last ten years he has specialised in assignments that involves design and implementation of holistically coherent national, regional and local innovation based growth systems. At present, implementation of Europe´s innovation strategy Horizion 2020 is high on his agenda.

His work includes assignments for national and regional governments and Innovation Hubs in Europe, Middle East and Africa with establishment of innovation systems for incubators & accelerators and science parks & clusters integrated with extensive SME development programs and funding. The methodology applied is anchored in the Quad Helix model, which constitutes an extension and refinement of the traditional Triple Helix model. It coordinates context management in collaboration between the public and private sectors, academia and civil society.

{ 1 comment… read it below or add one }

Montreal Businesses December 16, 2011 at 15:20

I’m pretty confident in the innovation that are taking places in my department here. I think it’s a matter of keeping what is workng and doing some AB testing with new stuffs to see if it’s worth keeping or try something else.

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