Pursue Innovation, Reject Novelty – (Articles on GIBS campus July)

Companies need some structure for developing innovative supply chain ideas, not just implementing them.

GIBS Information Centre / GIBSIC‘s insight:

curated to GIBS Bog Blog, July –

 

“PwC suggests that companies follow some of these steps as a way to draw a line in the sand and separate out innovation from novelty. Though not supply chain-specific, they certainly apply and are probably already implemented to some degree among thought leaders.

  • Become systematic about innovation. Companies considered to be the most effective innovators have developed structures that allow employees to think like entrepreneurs, empowering them to think about problem-solutions scenarios that address their everyday concerns. Also, they have strong leadership that provides centralized support.
  • Think about the long haul. To vet out innovative ideas from novel ones, and to have a continuous stream of innovative ideas to pull from, innovative companies establish a pipeline where both incremental ideas and long-term big bets are frequently percolating.
  • Embrace digital. PwC notes the many forms of innovation have resulted from the digitalization of operational models. The firm suggests companies define what more complete digitalization could mean for the business and examine whether the company is taking full advantage of existing digital tools.”

 

See on www.ebnonline.com

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