Even those who don’t like to use foreign terms in their work routine end up giving in to foreignisms when their mindset in the area of innovation matures. But it’s not enough to use words in the right context; it’s essential to understand the real definition of each expression. And the challenges don’t stop there; even the most familiar words in our vocabulary raise doubts about their concept.
If you feel a little lost and insecure about participating in a conversation about innovation because you don’t know the vocabulary in this area, don’t worry. Don’t forget that everything changes quickly in this field and everyone is learning just like you.
But if you feel more comfortable having a minimum knowledge of some terms, this content is to give you the support you wanted.
Our goal is to feed this content by updating and inserting new terms and concepts. Therefore, save the link to consult whenever necessary.
Ambidexterity is the process
By which a company maintains its traditional structure while seeking to implement methods to middle east mobile number list a culture of innovation. It is as if the company had two main pillars in which one “feeds” the other, like a process of osmosis.
Exercising ambidexterity is essential! Old and traditional companies need to innovate. But implementing an innovative culture is difficult. Both for the company itself and for employees who have been doing the same bureaucratic routine for years and are forced by the market to study new methodologies to streamline their activities.
CVC (Corporate Venture Capital) – is one of the forms of investment in innovation
Through Corporate Venture Capital, the understand the new challenges in data analysis in industry 4.0 allocates capital in exchange for a minority stake in a startup of interest
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CX (Customer Experience) – CX, or customer experience, may not seem to have a direct relationship with the area of innovation, but it does. Investments in training people and acquiring new technologies, process agility and the search for new markets are resources that the company uses to provide a better customer experience. In other words, satisfying the customer’s desires, making the customer’s experience in purchasing a product or service so satisfactory that they recommend your company to others and become loyal to it. The customer is the company’s driver, and shows whether the corporation is on the right path or not.
There is no point in a company investing in new technologies that are not in the interest of the customer to use. A good example of this is the frustrating Google Glass, the futuristic-looking smart glasses, although interesting, were not the products that users wanted at the time. Despite being very technological, they did not meet the experiences that customers wanted to have.
Therefore, creating channels to listen to customers is one of the essential transformations in companies that want to innovate. Keeping the customer at the center ( customer centricity ) is a constant task in innovation.
Want to speak to a CX expert? Meet DIWE’s CPO, Eduardo Fonseca.
Strategic objective – this is perhaps the first b2b reviews to understand. Any innovation action is based on the strategic objective. Companies have difficulty defining the strategic objective because they are unable to project the company’s performance in the future.
What do you intend to do in your company to innovate? What are the strategies? Even so, did it seem difficult? How about outlining actions that involve the environment? There are many startups out there that can help you.
Look, you don’t need to think about 2, 5, 10 years from now. You can start planning a week, 2 months, and 6 months from now.
But don’t forget to define them. Strategic objectives are guidelines for decision-making. When they are not defined, each leader decides, of his own free will, which is the right or wrong path.