"Connections enables you to connect to your teams, clients, and supply chain more efficiently and productively."
Innovation is strongly correlated with value creation and is a key factor in financial performance. However, not all organisations are good at generating and converting innovations.
Technology has made a huge difference in the speed to market with new products but it also means that it becomes more difficult to defend any competitive advantages you may have. Successful businesses now see innovation and change as a constant. Great ideas may come from unlikely sources and many organisations fail to capitalise on the knowledge that resides within. Why is that?
In companies which show exceptional rates of growth, innovation is an ongoing process of creating value from something new.
The pace of change is a challenge for many organisations. A recent report published by Harvard Business Review concluded,
"Speed is paramount. Fast and roughly right decision making must replace deliberations that are precise but slow." HBR, Leveraging Technology For Competitive Advantage, June 2013
An open and collaborative culture is an important aspect of managing change. This is where a shift to becoming a social business pays off and where software such as Connections can play a critical role. The days of managers making all the decisions and passing them down to employees who listen and act are over. Innovative ideas are as likely to come from the bottom as the top. The challenge is to capture these ideas and to be able to identify move the good ones through your system.
Innovation comes from collaboration not Eureka moments. social business software enables you to work in a different way, to capture ideas that may have been lost and to build a more innovative culture.
What's in it for your people? Why would they bother? Innovative companies offer social recognition and deploy reward systems to acknowledge the contribution individuals make above and beyond their day to day role. This is a win-win scenario. An employee who feels valued is also inclined to be more engaged. To find out more Ask Globocol.
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Globocol will benchmark your current practices and assess your readiness to become a social business. We will provide you with a written assessment and recommendations.