First, we have innovation
Innovation needs a sharper meaning and focus within our organizations, it needs to be ‘crafted’ far more, and it needs to have a greater alignment and validation. It needs increased facilitation and understanding. We need to change many of our existing innovation practices that we perform into ones that deliver this increasing impact.
We need to look simply beyond ‘just’ innovation in product and services, we have to link this more into our social needs, to design different business models that give opportunity for different organization design, agility and vitality.
We are far too often stuck in the incremental mode and must find ways to get out of this rut or we never achieve ‘real impact’ and move the growth needle to a stronger value point.
Second, we need to seek out more value-based relationships
These need to be broader, closer and allowed to be more imaginative in cooperation and outcomes. We need to seek out different ‘pools’ of knowledge and complementary expertise.
We should leverage for all it’s worth our collaborative, network, technology skills to explore and push boundaries for discovery.
We need to have in place some mechanisms that allow for a greater choreographing of specific events and growing knowledge understanding to be able to come together due to this value-based set of relationships so we provide for more moments of impact.
Third, we need to enhance economic value as our business goal
This comes through clarity of purpose, alignment and collaboration. We need to scan our markets, our competitors and the changes constantly happening in our market environments to gather increased insights. We need to hone our selection and design of new solutions by better scanning and investigating,
We need to think of impact in different ways, ways like containment, improvement, reduction, improvements and efficiency. We need to consciously seek strategies that DRIVE growth.
Last, we have the application of knowledge to learn and apply
We need to learn how to trade in the new economy, the one called the idea economy. This is the place where we learn, grow, seek out impact and grow. It is the intelligence within our broader capitals, those often called the intellectual capitals made up of social, human, structural, relationship and learning.
It is finding new combinations within these different capitals we learn to combine resources, capabilities and competencies in new and different ways. To achieve growing positive impact we need to develop problem-solving abilities, we need to be allowed to visualize far more and to explore these ‘concepts’ more freely.
We need to focus on creation, on exchanging and acquisition of new knowledge. We need to release all the ‘idle capital’ that lies all around us to bring it back into contributing value.
We need to combine these four intersections for seeking out positive impact
It is finding the future value-creating points where you can extract the hidden values waiting to be discovered.
We need to promote the “thinking experience” and develop in us all the three parts, firstly of inductive thinking through direct observation, then the use of deductive thinking from analysis and logic and finally, the abductive thinking of determining what could be possible and valuable
We need to relearn how we work, how we think and how we search to combine. Our knowledge learning capacities provide the solutions into the delivering of high impact areas where we all gain in growth and wealth creation.
The power of value building is often in searching out and combining, we need to look at combining different intersections for new ideas and concepts that when combined offer real impact.
image credit: unoc.net
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Paul Hobcraft runs Agility Innovation, an advisory business that stimulates sound innovation practice, researches topics that relate to innovation for the future, as well as aligning innovation to organizations core capabilities.