Strategic transformation and managing innovation is an ongoing state of being for organizations who want to survive or maintain market leadership. When the business environment is disruptive, innovation keeps organizations competitive. Organizations should embrace innovation, learning and adaptability with the goal of creating smarter organization that can thrive in a world of exponential change.
Organizations’ management then, have their work cut out for them as they compete in a world where the shelf life of business models is going down, thus there is an urgent need for tools, skills, and experience to envision, implement new business models that will transform the organization. They must take on the challenge of experimenting and leveraging on people who have the will and the skills to visualize and implement change. As the legendary innovation mastermind Clayton Christensen says: "You don't change a company by giving them ideas. You change them by training them to think a different way."
External market drivers are likewise forcing organizations to evolve and change their traditional business practices. These are:
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