Staying competitive in today’s tech-first climate requires businesses to innovate continuously. But innovation is no longer a linear project that can be mapped out and approached piecemeal. Instead, companies must be ready to act quickly and adapt their strategy as demand changes and external factors come into play.
Many businesses are struggling to keep up, with just 6 per cent of executives saying they are satisfied with their organisation’s innovation performance.
A lot of companies are still playing it too safe and focusing on the specifics of delivery timelines and dates, lines of codes and tickets, when they should be thinking more broadly about how their product will land in the market.
Truly successful innovation is only possible when businesses see product development as part of a bigger goal and build it into their wider strategy, rather than as a one-off project. A shift in mindset is necessary to achieve this; we must get to a place where...