fbpx

ACCELERATING AND COMMERCIALIZING INNOVATION

TWO CORE COMPETENCIES ARE NEEDED TO SURVIVE IN TODAY’S WORLD

1: Operational Capability

2: Dynamic capability

Operational Capability

Operational capability (oc) involves day-to-day logical details to survive the immediate. Operational capability is critical however for short-term relevance.  

The operational capability will produce profit for today in order to create tomorrow

a successful business or entrepreneur is one that can give cash flow for today.

Dynamic Capability

This is the mindset needed to curate the future. it is highly critical for a future relevance

To succeed as a leader, you can’t only focus on fixing the performance gap, you must also focus on the opportunity gap, and that’s where Dynamic Capability comes in. 

FRAMEWORK FOR DYNAMIC CAPABILITY

1: Ideate

2: Create

3: Innovate

Ideate: 

  • CREATE A DUMP Idea is a commodity, and to survive these turbulent times, ideation is a must. This process starts with creating an Idea dump where you deposit all kinds of ideas. 
  • KNOW WHAT WORKS FOR YOU Know what triggers your ideation process, determine the environment your ideation thrives, and embrace systems and people that think about the future. 
  • CREATE A FEEDBACK SYSTEM Build into your structure a system that gives you feedback, and that feedback loop must be very strong. LEVERAGE CORE TOOLS The two critical tools for ideation are FUTURE CASTING or SCENARIO PLANNING.

CRITICAL TOOL FOR IDEATION

FUTURE CASTING/SCENARIO PLANNING

This is a well-established approach used to model the future and to help organizations make strategic decisions needed to capture the value and drive future innovation

HOW DOES FUTURE CASTING WORK?

The first step in future casting is researching and evaluating how the world may change, identifying trends, and what new products and services may be needed as a result. it can be described as a ‘disruption simulator’. For example, we might imagine that AI will one day control all traffic, then the question is how do we bring it to life before the future comes?

To read more, Click the link below

POSTED BY EKO INNOVATION CENTRE

AOT LAGOS 5.0 - The Creative Economy & A Digital Lagos