Change is a constant both in technology & in the market conditions in which organisations operate. The pace of change is exponential. The organisations most likely to succeed, are those that consistently innovate in the face of this disruptive change. Many successful organisations claim innovation to be their most important characteristic in driving profitability & competitive advantage.
To innovate, organisations not only need to optimise the use of existing technologies & processes with incremental innovation, but more importantly, they need to reinvent themselves with radical innovation. This can be achieved by delivering technological innovation using new technologies, & at the same time, with process innovation by implementing new or improved operating processes & delivery methods.
Innovation Radar combines these different types of innovation into a two-dimensional framework. The degree of technological innovation is displayed on the x-axis and process innovation is shown on the y-axis. The framework model positions these innovation types into four zones.
The bottom-left zone of the model represents the as-is state for most organisations, with incremental levels of technological and process innovation. To reach the to-be state in the top-right zone, organisations must transform by adopting both technological & process innovation initiatives simultaneously.
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Innovate to succeed in the face of disruptive change, reinvent with industry 4.0 technologies & design thinking