Monday, February 06, 2012

Innovation - A must have! Don't know how.

Innovation – “The introduction of something new” ; “A new idea, method or device”… These are traditional and simple definitions of innovation. In business world, innovation is not that simple. Companies work hard to make their employees think differently; to think outside the box; to be innovative. Historically, most successful companies are those that innovate rapidly and change with time. GE, Apple, Microsoft, Google, Tata Group, Goldman Sachs etc. have a history of bringing new product and services into the market in a timely fashion. They continue to survive and thrive despite weak economy or recession. Innovation is a necessity for companies not just because of street’s high growth expectations but also because it is now the basic ingredient to compete. The physical world around us is changing rapidly. The expansion of internet and access to information has enabled people with very limited means to be able to challenge big brands. As Thomas Friedman quoted in his book, “The World is Flat” – Internet has leveled the playing field. Big or small, if you can innovate and be agile, you will succeed.

Recently, I met with Erick Mott from Ektron. Ektron hosted developers meet-up in San Francisco. As a keynote speaker, my presentation focus was on change - The dramatic shift that is happening around us in digital world that is also altering our genetics. You can download the presentation here: .This change is forcing companies to think differently. Following is the video of my interview with Erick as part of Ektron’s “Web Innovation Now with Erick Mott” program.

I personally, grapple with how to innovate or standardize a process where innovation is inevitable. I don’t know how. In philosophical terms one can write a book on innovation but when rubber meets the road, those philosophical thoughts are nothing but whims of fancy. I hope one day we as collective community can wrestle this beast to the ground.

--Salim Hemdani