Is COVID19 the best time to innovate? I would love to answer that with a resounding ‘yes’, but looking at previous research the answer seems to be more nuanced. Yes, necessity is the mother of invention. And yes, external events trigger innovation. However, uncertainty impacts how we make decisions and if you have never brought […]
How do you integrate old and new business models and technologies into your existing services? In this blog, I discuss several options and compare these with how architects revamp old buildings.
Not all innovation efforts pay off equally. Which type of development projects to pursue? Which offer most value to your clients and the highest return on investment for the organization?
Do you still have unspent education and training budget left over for the year? Ensure it delivers value and spent it on new business development education.
According to the World Economic Forum, the Fourth Industrial Revolution is happening right now. Steam engines, electricity, and information technology revolutionized industries, yet not the professional services. Now cyber connectivity is causing a fourth revolution, driven by artificial intelligence and connectivity. Connectivity between and among people, organizations, and things, is driving this fourth revolution. Does your organization have the capabilities to deal with the impact of this fourth industrial revolution?
Many industries, from banking and insurance to retail, are undergoing a fundamental redefinition. In part because digital technologies are making it possible for new entrants to disrupt established markets. When this disruption is followed by changes in regulations, many incumbents find themselves having to redefine their business. You need to ask yourself: If these changes are impacting your clients, how will they impact your future business?
Disrupted Growth: Sometimes growth requires a detour, but that does not mean that you have to stop growing or have to leave your roots behind!
The Institute for Healthcare Improvement (IHI) held its 26th annual forum. A wonderful venue to learn how to achieve better health, better healthcare at lower costs. The speakers and exhibits showed in numerous ways how this triple aim can be realized.
Top talent has traditionally been the scarcest resource in the professional service industry. However, top talent seems currently abundantly available. First due to increased mobility, top talent can be recruited from the market as long as you are willing to pay a premium price. Second more professionals are being educated than are needed, leading to an oversupply of for example lawyers and some types of clinical specialists. How is your organization adjusting to this new reality?
Is innovation a core business process or support service in your organization? Your first answer is probably innovation is core to our business—because improvements and new services enable our organization to sustain its profits, survive, attract new customers, etc. But do you need to innovate in order to advise your clients or see your patients? Likely not. Although important, innovation is a support service in most organizations, just like Accounting and Human Resources. Important, but not an integral process of each service delivery.
In the innovation management literature, business model innovation is the new buzzword. What is it, how is it different from other types of innovation, and is it applicable to the health care and legal industries?