Innovation is a buzzword that is seen everywhere. Used in a multitude of contexts, for many of us it describes ideas that appear out of the blue which lead to an unexpected discovery or achievement. However, in the business world innovation can be a tricky concept to nail down. It needs to be something useful, replicable without being expensive, and at the same time resolve a specific need. Vital for any business, it can breed resilience to an ever-changing environment, give companies an edge to penetrate markets faster and help improve customer relations leading to bigger opportunities.
Technology is evolving at a rapid rate with new, innovative solutions being introduced every day. As a result, marketplaces whether local, regional or global, are becoming increasingly competitive. The ability to create and successfully exploit new ideas is critical to any business being able to improve its processes and bring new and improved products and services to market. To get ahead companies in nearly every industry have learnt that innovation and agility is not only necessary but in fact crucial to survival. A study from MIT Sloan Management Review and Deloitte found that 81% of respondents at digitally mature companies cited innovation as a strength of their organisation compared with 36% at developing outfits and only 10% at early-stage companies. The same study also showed that 86% of respondents from those digitally mature companies had devoted 10% or more of their time to experiment or innovate, demonstrating the importance of dedicating time and energy to innovation.
Innovation helps us to deliver differently and is a core part of our company DNA. We recently held the Global Innovation Challenge, providing employees the opportunity to develop innovative solutions that address societal or environmental issues. A two-fold initiative, the challenge encouraged our employees to be part of something positive, addressing issues close to their hearts, whilst demonstrating the capabilities of Logicalis as an MSP and surfacing innovative ideas which could be turned into business opportunities. The winning team were given funding to develop their idea further into a minimum viable product. Encouraging employees to be innovative and have a positive creative outlet, helps to build business resilience from the inside out as we learn to be more flexible and adaptable to new ideas and ways of thinking.
As Architects of Change we help businesses transform the way in which they operate to build a better world and create more efficient, flexible businesses. In a year that has been clearly marked by change, innovation has been a key turning point to adapting to challenging circumstances and an evolving environment. By utilising our culture of innovation, we can help to guide and create resilience in other businesses through digital transformation.
Innovative architecture can transform a business and whether it is helping clients to engage with their employees through secure collaboration, connect better with their customers or optimising their IT operations and helping them to improve their business model, an innovative mindset is a key part of the Logicalis approach.
To celebrate innovation and recognise its vital role in modern business, Logicalis is dedicating November to innovation. Innovative thinking can help create tremendous efficiencies through the development and use of new strategies. Encouraging our colleagues to develop innovative ways of thinking to create disruptive ways of winning, throughout November we focus on inspiring innovative thought and to help not just create solutions that resonate with clients but develop potential solutions that could contribute to building a better world.