Innovation. There’s been so much talk about innovation and digital transformation, but very little action. With an estimated $2 trillion being spent by organizations on “transforming” this year alone, there is clearly a demand, but what’s the ROI? That’s to be determined because there’s been a lot of money spent with very little action.
It’s easy to define all the factors as to why companies aren’t transforming, why they aren’t being innovation masterminds. Maybe it’s lack of a plan, strategy, limited resources, culture, resistance, structure and the list could go on. In most cases, digital transformations are conceived as this notion that there is a beginning and an end. In actuality though, digital transformation – innovation – is continuous. Companies should be constantly reinventing themselves. That’s the starting point to why organizations can’t seem to innovate or digitally transform.
The ability to undergo continuous transformation, relies on a series of critical attributes that the company must be aligned with in order to have a strong foundation ready to withstand the peaks and valleys of innovation and digital transformations.
There are three clear aspects to what it takes to be a digitally transformed company:
- Team Culture
- Innovation Pursuit Strategy
With these foundational aspects in play, organizations are better suited to tackle the transformation into a digital company. Having the mindset that innovation is an endless pursuit and that these aspects must be continually refined and inspected, will only open doors to the realization of faster growth with mitigated risk.
Learn more about the three aspects in the video below.
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