20 August 2019
There is widespread agreement about the cultural attributes that inhibit innovation.
- A bureaucratic, hierarchical, and fearful environment.
- Such cultures often starve innovation of resources and use incentives intended to promote short-term performance and an intolerance of failure.
- Only 28 percent of the senior executives in the survey said that they are more likely to focus on the risks of innovation than on the opportunities, but only 38 percent said that they actively learn from innovation failures and encourage the organization to do so as well.
- Even more alarmingly, only 23 percent of the employees believe that their organizations encourage them to learn from failure.
To make a corporate culture friendlier to innovation, managers must acquire new skills to engage and lead the employees.
03 August 2019
The issue many organizations face today with innovation is their tendency to be too optimistic and wanting all innovation to be revolutionary or too cautious and staying in their comfort zones.
Both approaches lead to failure and an internal perception that the company must retreat back to the core business and delete its innovation efforts. This slide show shares 10 steps to promote innovation and succeed.
Learn about the 10 steps to promote and succeed at innovation.
03 August 2019
There is a growing realization that organizations have to get the people who actually do the work to innovate. The innovation agenda is now as much about human capital investment as delivering new products and services. Now that innovation is everyone’s job, who owns job training?
The organization’s innovation champions and evangelists are becoming innovation educators and trainers.
11 June 2019
In early 2014, Srikanth Thirumalai met with Amazon CEO Jeff Bezos. Thirumalai, a computer scientist who’d left IBM in 2005 to head Amazon’s recommendations team, had come to propose a new plan for incorporating the latest advances in artificial intelligence into his division. Amazon’s product recommendations had been built around AI since the company’s very early days,. Amazon also applied AI in its shipping schedules and the robots moving around product in their warehouses.
Prebuilt AI APIs are important tools for cloud platforms to attract and retain customers. Amazon's evolving AI cloud tools will drive the delivery of new use cases for their customers.
04 October 2017
Bain Research believes this problem is larger than IT; it is a strategic business challenge as well as a great opportunity. Technology executives now have a platform and an environment in which company leadership is keen to listen and support IT initiatives.
Business executives will need to work with IT more closely than ever before, supporting technology recommendations and gaining a clear understanding of the challenges and opportunities that technology affords.
Working together, they can move quickly to bring their banks, insurance companies and other financial institutions forward into the rapidly evolving digital age.
Business executives will need to work with IT more closely than ever before, supporting technology.
04 October 2017
The 2017 Ernst & Young Global Research Banking Outlook Survey of senior executives at almost 300 banks across the globe, indicates that risk and regulation will continue to dominate management’s agenda over the next 12 months.
Leading banks are looking beyond compliance to optimize their businesses and improve financial performance.
Uncertainty is no excuse for inaction. The report recommends that banks should take steps to “keep customers safe” and “make things better for their customers.”