This is episode #43 of Custom Made and this week I’m sitting down with Dialexa founder and CEO, Scott Harper.
Earlier this week we hosted a panel event at our Dialexa offices on the topic of Business Impact Innovation.
Right after the event, I grabbed Scott and we recorded some of the key themes that were discussed by the panelists and the attendees.
Real quick, when we talk about Business Impact Innovation we mean bringing innovative thinking to solve real business problems and needs, that is measurable and impactful to the current state of the organization. Not exploring emerging technologies with no direct link or impact on your business today or in the next couple of years.
With the notable closures of innovation labs for organizations such as Nordstrom and The New York Times, you could argue that “innovation” can mean putting a target on your back. But, we saw the importance of having an event on this topic with innovation leaders who are putting in place the right process to solving problems, people to drive the change, and yes in some cases new technology to solve their organization needs.
Two reports have also been recently published that reinforce the need for this to be a topic that should be discussed across enterprise organizations.
The first is from Forrester on CIO Predictions for 2019. Their predictions for CIOs next year include the need to embrace tech-led innovation revenue and speed metrics. How will what you are doing impact the growth of the company and the speed in which you drive change and roll out new offerings.
Also, that Forrester full expects a tech moonshot meltdown to happen that will cause many organizations to refocus their efforts on the business needs of today and near-term, not the future. IBM’s Watson seems to be firmly in the cross-hairs of that conversation.
What was also interesting was that they expect 20% of top-performing firms will be looking for new CIOs in 2019, which if you are in that role today looking for partners like Dialexa to support in accelerating projects and initiatives seems more important than ever.
The second report we discussed at our event was a State of Innovation report that has been recently released from CB Insights. A couple of the takeaways from this included:
- Corporate innovation is slow: 60% of companies said it takes a year or longer to create new products. Corporate propensity for building over partnering or buying slows down innovation.
- Companies lack confidence in their ability to innovate: The companies CB Insights spoke with found evidence that innovation becomes progressively more difficult as ideas move into development and then into commercialization.
Be sure to tweet me @dougplatts with your thoughts on this episode and your thoughts on the business impact innovation.
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I hope you enjoy this episode!
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