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The power of technology is not when it is created by geniuses or geeks, but when it becomes scalable enough for large number of people to use it. Technology always has a delayed gratification. Electricity, internet, bulb or computers none of them were hailed as great inventions until many decades later when the interface and adjoining business environment allowed the same to prosper as a business. That is where people such as Steve Jobs are hailed as implementers of business innovation as they brought out technology tools from outside the domains of scholars to regular people as users. Often the greatest resistance to popularizing inventions comes surprisingly from their creators themselves as they fear some degree of corruption to enter their product once it goes mainstream. Thus the actual effect of today’s fancy technologies such as electric cars or Bitcoin will only emerge on the surface in time when the related interface will get developed.

Source: http://www.innovationexcellence.com/blog/2016/06/20/the-one-thing-that-can-transform-an-idea-into-a-phenomenon

In order to stimulate business innovation, a method has been devised which has been proven to be much more effective than the traditional brainstorming. This process is called Quantum Idea Generation which assumes that most people have similar abilities to be creative, being naturally born so is not necessarily important. What is important is to understand whether then person has a left sided or right sided brain. The former are better at step-by-step execution and factual puzzles. The former on the other hand are better suited to demonstrate creativity out of seemingly chaotic circumstances and their best can be stimulated using visual content. Source: http://www.innovationexcellence.com/blog/2016/06/19/know-your-brain-type-and-get-more-ideas/

The digital head of Samsung’s UK division says that marketers must behave like entertainers, yet work with the passion of startups. Traditional advertising is being taken out of the game by business innovations. Netflix and Amazon Prime’s models are the best examples of such innovation. The customer is no longer being flooded by broadcasted one-size-fits-all approach. Instead personalized content is being communicated. Customer data can be leveraged using sophisticated business analysis suites to get better understanding of market requirements. With huge chunks of data now available, it is also important that the same is used up with responsibility.

Source: http://www.campaignlive.co.uk/article/samsung-digital-chief-behave-entertainer-move-start-up/1396248#x9R0sYvseIIvALxf.99

Scrum methodology also known as Agile is proving to be the world’s best source of systematically generating business innovation. As per a study more than half the firms are using this method, and a quarter of them are using it quite often. It has a success ration of more than sixty percent as per respondents. They also feel that Agile helps customers as their priorities are best met using innovative methods. Thus eventually it helps the business as budgets are met and time constraints eliminated. Usually this method works best when team members are co-located although they can work even without this. In the future it can further help in tangible measurements, deal with transitions and soothe any possible clashes with corporate culture.

Source: http://www.forbes.com/sites/stevedenning/2015/07/23/the-worlds-most-popular-innovation-engine/

Some of Australia’s prominent entrepreneurs have compiled a few aspects that determine business innovation for them. Alex Louey of Appscore says that for him, innovation is the entire mindset and an attitude that ensures the ideals will never get too old. Alastair Coleman who is the Founder of Nothing But Web feels that innovation is essential for his firm to achieve its corporate strategy. Taryn Williams who runs both THERIGHTFIT and WINK Models, feels that accepting the status quo goes against her understanding of innovation. Founder of WME, Nick Bell, says that innovation grips him with this constant sense of urgency. Flux’s Co-founder Nathan Spataro feels that it is innovation that enables his problems to give way to solutions. Nick Austin of Divvy Parking says that to him innovation is simply creating something better and smarter for the people around himself. Dan Nolan, the co-founder of Proxima says that innovation ensures knowledge can never be contained or curtailed. To Slingshot’s Criag Lambert, it is entrepreneurs using new technologies who are driving innovation. Meanwhile, Richard Kimber of OFX feels that innovation can sometimes be not something new, but reinvention from a new angle. Christ Strode of Invoice2go agrees to quite an extent. Innovation for Steve Shelley of Deputy is the improvement of some invention. Matt Bullock of e-WAY feels that innovation is the sum total of service, agility and technology. It is the only reason for Steven Marks of Guzman y Gomez to be entrepreneurs. The CEO of Afterpay, Nick Molnar says that innovation has given him the strength to look at life differently and accept the challenges.

Source: http://www.businessinsider.com.au/innovation-insights-14-australian-entrepreneurs-share-what-innovation-means-to-them-2016-3

As Starbucks has been amongst the big success stories in the business world of the last two decades, a lot can be learnt by studying their growth trajectory and business strategies undertaken. Four key lessons emerge from the Starbucks success story. First of all every visionary entrepreneur needs to have patience. The corporate strategy must be developed to take long term thinking and not abandon the same for short term gains. Each company that wishes to succeed needs to keep watch over business innovations round the corner which could apply to one’s own business. Tastes and preferences of customers also keep changing with time. This is especially true for services that are not absolutely essential for survival.

Source: http://www.innovationexcellence.com/blog/2016/03/02/a-slow-brew-what-starbucks-teaches-us-about-the-importance-of-innovation-and-timing-part-2-of-2/

Uber has emerged as the face of modern business. It exemplifies the gig economy, where an individual lends one’s services for several companies on part time basis rather than one particular stable job with nine to five timings. For millennials it is a very attractive option as they do not get bogged down at one place but can lend their creativity to several non –competing players. However, Uber has also faced criticism across the US and rest of the world as an organization that has taken away labour jobs. Uber’s disruptive business innovation has rendered traditional taxi aggregators losing business across the globe. This has created furor with several politicians claiming law changes to curb the same. Others however support Uber and other such firms working in the gig economy.

Sourcehttp://www.theglobeandmail.com/globe-debate/on-the-road-to-a-new-economy-with-uber-at-the-wheel/article25567035/

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