Going into 2020, companies were facing huge challenges due to digital disruption. This level of complexity and uncertainty has increased significantly due to the pandemic with the pace of change accelerating even faster, all while uncertainty related to the creation of a “new normal” that is evolving in parallel. Due to the pandemic, this pace and volume of change have grown from 10X (pre-pandemic) to 100X (during the pandemic). This increase in change is forcing all firms to seek changes that they can implement related to how their firm is organized and operates in order to accelerate its ability to adapt to and take advantage of the results of these many sources and impacts of change. The top focus being pursued by the executives who lead these firms is improving their ability to innovate. The need to commercialize breakthrough innovations is stronger than ever and a leading indicator of the firm’s ability to sustain success.
The ability to innovate in large legacy firms can be compared to the difficulty of redirecting the course of a large aircraft carrier instantaneously. However, the ways that workers must engage and navigate the firm’s strategy, processes, decision making, and innovation processes to achieve commercializing innovations differ significantly in complexity from company to company. Employees face issues when the firm’s innovation criteria are misaligned to the current market and management concerns that it could negatively impact the existing revenue stream.
We will explore how a firm is organized can have a substantial impact on the firm’s ability to compete, innovate, grow, and thrive. The key components of organizing a firm, and the pros and cons of some of the alternatives available. We will address these various components and alternatives of each on how a firm can be organized: Organization Structure, Staffing, Leadership & Decision Making, Culture, Strategy, Enterprise Program Management, Operating Model, Incentive/Reward System, Collaboration and Communication, Continuous Learning, Innovation Management System, Digital Technologies, and Transformation and creating an Ecosystem. Individual choices are important but understanding the impact each individual alternative selected will have and establishing strong integration between them in the overall innovation competency of the firm is essential to the firm’s ability and effectiveness to innovate and be successful.
This is a unique opportunity for passionate, expert professionals to join 20+ panelists to advance the thinking in this field. This engagement is moderated by an expert Facilitator and is open asynchronously, around-the-clock for your convenience.
Every two weeks, the facilitator will introduce a new subtopic – each theme exploring a new facet related to the accelerating innovation.