MANAGING INNOVATION IN ON UNCERTAIN TIMES
Preparing your innovation today to extract MORE™ value from high growth markets tomorrow.
We are living in uncertain times. Brexit, faster changes in government policy, consumer expectations and the impact of new technologies are all catalysing disruption in all markets and sectors.
The good news is that many of these changes are creating big new innovation opportunities and markets with real potential for long term growth. Ambitious leaders in business and research face the challenge of driving innovation despite these uncertainties.
How will you prepare for success in emerging high growth markets?
GLOBAL CHALLENGES
INDUSTRIAL STRATEGY
Uncertainty creates challenges for all innovators
Whether we like it or not change is affecting all UK organisations.
Most obviously Brexit is impacting businesses of all sizes either directly or through secondary effects on their customers, partners and suppliers. Clearly research organisations face loss of traditional funding for their research (H2020), disruption to proven collaborations and threats to wider sources of revenues (student fees).
Whilst of vital importance to the UK, Brexit is happening at a time of wider global changes affecting economies, the environment and people and their societies.
The accelerating pace of technological innovation is transforming the ways organisations can operate are bringing seismic shocks to business models everywhere. The availability of information is increasing customers’ power to identify the best value, business suppliers are also able to demand better prices for goods and services in high demand. As a result, competitive rivalry is extremely high with brand value being hard to acquire and easy to lose.
Also, technological advances mean that no organisation is safe from the threat that their offer being substituted by virtual solutions. It is now taken for granted that the world’s biggest retailers own no high street stores, the world’s largest hospitality business owns no hotels and the world’s largest taxi firm owns no cars. How long before the largest educational organisations have no classrooms or lecture theatres?
The next generation of information technology based on unconstrained volumes of structured and unstructured data combined with machine learning or artificial intelligence, will deliver even bigger changes to working practice. It is likely that this phase of IT innovation will extend these shocks to knowledge workers and processes.
Faced with all of this change how can the leaders of businesses and academic institutions make plans to exploit these changes? How can you anticipate the best new market opportunities for your organisation and ensure your competitive advantage is sustained?
The Challenge for Businesses
Although new innovations that will succeed in this time of uncertainty may not yet be obvious, leaders need to enable a response that will:
- increase organisational agility in the face of new competitive threats and market opportunities
- engage with new market opportunities less affected by political and economic uncertainties
- ensure that your innovative ideas leverage game-changing, data-centric technologies e.g. IoT, big data and machine learning
- harness the potential of new public investments designed to support and accelerate strategically important innovations e.g. Industrial Strategy Research Fund
The Challenge for Research
Big changes to traditional research funding sources are highly disruptive, but research leaders can respond by:
- Targeting research programmes that offer the potential for greater external impact
- Ensuring research programmes leverage talents across a wider diversity of academic disciplines
- Earlier validation of research agendas with the economic, environmental and societal challenges facing business and the wider economy
- Reviewing your organisations ability to compete effectively for new public research funds associated with the Industrial Strategy (ICSF) and Global Challenges (GCRF)
All innovators need to find the best opportunities to secure their sustainable, successful future.
The big question is how do you lead your organisation to prepare for success in these changing times.
How to get MORE value from your innovations in uncertain times?
Anticipating good market opportunities has always been an essential element of business success. However, the risks in today’s climate appear more unpredictable than ever. Despite this uncertainty there are ways in which you can prepare your organisation to respond with agility to the opportunities that the market presents. In short you need to:
Know the new growth markets that are resilient to uncertainty, yet capable of long-term growth
Know what assets your organisation can leverage to enable your success in these markets
Know which are your best opportunities to secure your sustainable, successful future
In short, your need to know MORE
The MORE™ (Market Opportunities Review and Evaluation) process developed originally in a highly dynamic research context is all about knowledge management. It helps you catalogue what you’ve got so that you can find it again; it helps you evaluate which opportunities you are best placed to respond to; it helps you work out who does what to whom, why, how and where to optimise your chances for success.
MORE™ transforms your innovation opportunity
MORE™ enables future success by mitigating the risk of investing today in tomorrow’s best innovation opportunities
MORE™ accelerates your organisation’s capability and capacity to innovate and derive sustainable competitive advantage from tomorrow’s most important high growth market opportunities Driven by important national imperatives and major global objectives, such as the UK Industrial Strategy and the Global Goals, these market opportunities are resilient and less affected by short term uncertainties, such as Brexit. As a result, investment of resources in their development can be made with confidence of a return that will help achieve you to achieve your strategic priorities in the medium term.
MORE™ provides a structured approach that is built on Cambium’s Smarter Sustainable Innovation philosophy. This approach combines a deep understanding of these markets, the application of next generation information technologies and most importantly the role of the people and collaborations needed to ensure your innovation’s success.
The MORE™ advantage for Businesses
MORE™ helps business leaders rapidly build an agile response to new emerging market opportunities. MORE™ provides:
- a rapid independent audit and appraisal of your relevant organisational assets, such as: skills, technologies, partnerships, market presence and corporate insight.
- a data driven decision framework to objectively assess the value of these assets to capitalise upon future market opportunities.
- an innovation plan that takes account of next generation information technology e.g. data-centric technologies e.g. IoT, big data and machine learning.
- accelerated organisational readiness to compete effectively for new public investments e.g. Industrial Strategy Research Fund or Global Challenges Research Fund.
The MORE™ advantage for Researchers
MORE™ helps leaders of research organisations quickly build organisational readiness to compete effectively for new sources of Research funding. MORE™ provides:
- A strategic efficient approach to identification of multi-disciplinary collaborations and projects with high Impact potential.
- Accelerated development of a distinctive research agenda and innovation plan reflecting these multi-disciplinary strengths.
- Validation of research insights and ideas against priority challenges facing UK business and their wider environmental and societal issues.
- A clear and agreed strategy and plan to secure a fair share of new research funds associated with the ISCF and GCRF.
All innovators need to find the best opportunities to secure their sustainable, successful future.
The big question is how do you lead your organisation to prepare for success in these changing times.
Discover how MORE™ helps you navigate uncertainty to secure your future success