The average lifetime of a company listed on the Standard & Poor's 500 stock market index has fallen from 67 years in the 1920s to just 15 years today. Every two weeks an S&P 500 company disappears from the market, and by 2027 three-quarters of the 500 largest companies in the US are expected to be replaced by new ones. Given this speed of change, even (digital) innovations have a short half-life. What promises a competitive advantage today will become a commodity in a few years.
"If you're not fast, you're fucked."
(inofficial claim of Google)
Great changes happen in many small steps. The right steps are based on good decisions.
Innovation is the fuel for economic success. Executives find it difficult to strike a balance between the need to run a profitable business and investing in future innovation. Often, these two goals conflict, and most executives mistakenly focus only on the former and ignore the latter. The older the company is, the more stuck they are with policies, procedures, levels of management and risk aversion: their own processes are hindering change. As a result, mostly only fake innovations are produced - fake innovations with little effect.
Over the next few decades, agility will not come from speed; it will come from the ability to explore multiple domains at once and combine them into something that produces value.
It is becoming increasingly clear that the groundbreaking innovations of the future will not be based on a single technology. The challenges we are facing are far too complex for anyone to develop them on his own. Therefore we can expect that the basis of competition will shift away from design sprints, iterations and pivoting towards building meaningful relationships to solve major challenges.
Cooperation, even across company boundaries.
In order to work on a field of action, the responsible department (the responsible circle) creates a situation and asks various stakeholder groups for their input. This gives them the opportunity to contribute information and ideas based on their different experiences. The primary goal in this phase is to create a mutually uninfluenced basis for developing possible options for action. Therefore, in beeBlum the view of each perspective can be isolated from the overall view if desired.
Imagination is ten times more important than experience. Just betting on someone who has done it before could mean betting on something that was done wrong a long time ago. The secret ingredient in the innovation process is to find a truly new approach. Ever thought about inviting your community to help you get ahead?
beeBlum supports you in finding the most promising ideas from a collection of good ideas.
Before an innovation is launched, alternative approaches can be considered and individually evaluated. This includes "soft" factors, such as the consideration of opportunities or enthusiasm factors, as well as "hard" key figures such as budget or price. In this way, a catalogue of criteria is created and filled with content, so to speak. If the decision template is classified as ready for decision, the decision maker(s) will have the possibility to request further criteria or information, to make the decision or to decide on the existing basis.