In our daily conversation, terms like innovation, invention and creativity are often used interchangeably. But, for academics, researchers and policymakers there are important distinctions between these terms and these distinctions give each term a unique, specific meaning.
Competition today it isn’t about big things, elements that are very easily seen but it is about small things that anybody else haven’t seen. This is why almost all enterprises are in a search of creating competitive advantage against its competitors.
PwC carried out a survey of 246 CEOs from around the world, and the surveys showcases changing role and nature of innovation in today’s businesses. 64% say innovation and operational effectiveness are equally important to the success of their company. What emerges from the latest survey is that CEOs are now taking personal responsibility for directing and inspiring innovation as it becomes an ever more vital element of business survival and success. The problem is that while the eyes of the CEO are fixed on innovation, the body of the organization may not be following. The ‘antibodies’ that inhibit innovation include a culture that sees it as separate from the mainstream operations of the business and is slow to commercialize new ideas.
This is where we at Panso Solutions differentiate ourselves from our competition. Innovation is part of our DNA. Be it a technical developer or the C level executives; each individual tries to imbibe their respective knowledge with a flavor of innovation. Trying to do things differently and efficiently is what we strive for but apart from that we pride ourselves is to do things that others haven’t thought about.
The byproduct of our constant urge for innovation is the Solution studio which showcases some of the most innovative solutions which has helped our customers in terms of cost saving, time to market, process simplification and much more.
Having an innovation doesn’t mean that a company has sustainable competitive advantage. In order the innovation to be used in gaining competitive advantage; companies need to have appropriate strategies in order to use these innovations in a proper way. Without these strategies having innovation is like having the latest smart phone but with no battery!
Competition today it isn’t about big things, elements that are very easily seen but it is about small things that anybody else haven’t seen. This is why almost all enterprises are in a search of creating competitive advantage against its competitors.PwC carried out a survey of 246 CEOs from around the world, and the surveys showcases changing role and nature of innovation in today’s businesses. 64% say innovation and operational effectiveness are equally important to the success of their company. What emerges from the latest survey is that CEOs are now taking personal responsibility for directing and inspiring innovation as it becomes an ever more vital element of business survival and success. The problem is that while the eyes of the CEO are fixed on innovation, the body of the organization may not be following. The ‘antibodies’ that inhibit innovation include a culture that sees it as separate from the mainstream operations of the business and is slow to commercialize new ideas.
This is where we at Panso Solutions differentiate ourselves from our competition. Innovation is part of our DNA. Be it a technical developer or the C level executives; each individual tries to imbibe their respective knowledge with a flavor of innovation. Trying to do things differently and efficiently is what we strive for but apart from that we pride ourselves is to do things that others haven’t thought about.
The byproduct of our constant urge for innovation is the Solution studio which showcases some of the most innovative solutions which has helped our customers in terms of cost saving, time to market, process simplification and much more.
Having an innovation doesn’t mean that a company has sustainable competitive advantage. In order the innovation to be used in gaining competitive advantage; companies need to have appropriate strategies in order to use these innovations in a proper way. Without these strategies having innovation is like having the latest smart phone but with no battery!
Very nice post. Thanks for sharing.
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