innovation

The Age of Innovation

On Friday, I had the pleasure of presenting to Tech Mahindra’s Innovation Day event at Georgia State.    In preparing for this meeting, I researched the massive change that has occurred in technology over the past 25 years – in hopes to shed some insight on what I think will be the future for innovation. My conclusion: everything is now aligned for disruption in every industry. Nearly all of the traditional barriers have been eliminated. Disruption and innovation are inevitable now, and your company will likely be innovating and changing your industry—or a competitor will do it for you!

I advised CEOs and CIOs to totally rethink their mindsets around IT. In the past, all innovation involved large capital outlays, and obvious limits existed on creating value with existing technologies.  Let’s look at the traditional barriers one by one:

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New Dinosaur Discovered: Vendor-Consoliraptor

I have worked for large companies, sold to large companies, and consulted with large companies, and I am always amazed at some of the procedures, policies, and strategies they implement in the name of cost savings or efficiency. Some of these strategies last for years, if not decades, until someone with some common sense looks at the process with a different lens. Over the past few years, some of these dinosaur strategies have become more evident. New technologies have created tremendous opportunities for companies to drive innovation, enter new markets, and cut costs. Yet, these decades-old practices thwart innovation and inhibit creative managers to drive change within their organizations.

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