MANAGING in the

NEW WORLD

While most organizations worldwide are trying to innovate, a lot of efforts are not being implemented beyond the confines of the White Paper. There are some ways in which sincere efforts can be put to bridge the gap. The scope of the term innovation must be allowed to get broader as it does not have to be a new product but simply a newer method of executing an existing one. While the eventual outcome may be altered, the original intent must not be regarded as failure if innovation is eventually achieved. The business model here becomes key driver of innovation, not necessarily core product or service. Thus businesses are facing severe reversals. They must realize that even basic innovations are leading to alterations in operations, internal systems, channels and packaging. Whether planned or not, the change has to be incorporated by the management. The relationships between innovation, change and business models means top innovators will develop business plans difficult to replicate.

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