We all know Innovation matters, but...
The top challenge is the innovation has been a top priority and a top frustration for many organisations, businesses and leaders. According to McKinsey, 84% of global executives believe innovation is extremely important to their business survival and growth but only 6% are satisfied with their innovation performance and result. Most people would agree that the vast majority of innovations fall far short of ambitions.
One of the fundamental problems is, most of the masses of customer data companies create is structured to show correlations such as this customer looks like that one, or 68% of customers say they prefer product A to product B. While it’s great to identify patterns across the data, they don’t mean that one thing actually caused another. Also, it’s no surprise that correlation isn’t causality, we believe most managers have gone through basing decisions on correlations or leave it to a chance to innovate.
LIFE OF BUSINESS believes the innovation success happens in the Art & Science of Idea Transformation through mindset, strategy, practice and system together over time. Finding a novel solution comprises up to two-third of the total cost, time, and effort of new development.
However, every business has an army of potential creators and innovators at its disposal, not only its staff but customers, suppliers, partners, professional networks such as business communities, social networks such as fans and beyond especially in today's interconnected world.
LIFE OF BUSINESS is a Micro Digital Innovation Factory as a Service to enable individuals and businesses to innovate a new solution, concept, product, service, system or business model together through the Art & Science of Idea Transformation in a systematic way that can not be found anywhere else.
Maybe this is the time to think laterally and reinvent yourself and the business to do something smarter that matters the most in a systematic way.
Let's discuss to see how can we turn your challenge to an opportunity that matters the most.