Innovation & Disruption at Companies
Often at times, when one thinks of innovation and disruption it’s looked as something that comes from startups. If there is innovation at larger established companies it comes in the form of Research and Development and not at the rapid deployment speeds of startups.
Innovation can stem from looking at existing market situations and thinking how to improve them. The issue arises when the mindset within a company is, ‘well it is, how it is’. Why is it we hear xyz industry is being disrupted by a new startup in the field. Do the existing market leaders not see the full market or don’t have customer feedback? The answer is they do, and they don’t. Often at times in a startup world, the smaller issues are noticed by various people in the organization, but larger organizations and their employee’s mindsets might overlook issues as that is the status quo.
An example: A Logistics/Shipping Company
A customer service agent, might apologize for the same issue multiple times to the customers, but collectively there is a pattern. Maybe it might be a simple employee that is holding up a delivery, but at times it might signal an opportunity for innovation. Rather than react to any disruption from an outsider, they can act instead of just reacting. Act on the issues, not just solving an issue every time it arises, but instead look at why the issue occurred and tackle it ahead of time to solve the greater issue. That is where innovation can kick in. Sure, they are can innovate and react by following in a startups lead, but if they used their insights and feedback they can be even more innovative than an outsider can be. Applying outsider thinking to insider information.
Breaking it down:
Customer complains -> Customer Service Agent resolves it/apologizes (rinse and repeat)
By utilizing insights into the nature of the complaint they might have a temporarily solution (replace x employee with y employee), but the greatest solution is to innovate to the point the problem can’t possible arise again. Innovate, disrupt and fill the gaps in the system, (the gaps you didn’t even think existed).
Working with our clients and partners we often look at problems with a fresh take, not just as an outsider, but as an insider with innovative mindset and disruptive outlook. At times, it’s about prototyping a concept and see if it builds traction, build fast, fail fast (if required) vs. taking a costly analytical approach. The risk of startups is that they often innovate in vacuums void of the actual market. The ones who can prove traction and solve actual problems are often the ones that remain resilient when investor funding dries up.
Sustainability of an idea is paramount in our philosophy but utmost of all is fulfilling an unregistered need of the end users.
Feel free to reach out to us if you have any comments or are interested in learning more about what we do.