Many people are interested in who the rich are, what they do, the size of their fortune, and the source of their wealth. In addition, decisions makers in enterprises need to assess – Could these people impact my business or industry ? With the rich, their companies, their vision of the future, their significant funding in many investments, their ability to attract top talent, etc. – they are accomplished at innovation and effecting change – in society and the business landscape.
Because of this, if you’re not one of the rich, or your business / industry is targeted for disruption by them – you and your company have a significant issue in the making ! And has been proven by industry disruptions that have already occurred, no organization is exempt ! To address this challenge, there is a huge urgency for enterprises to “ Innovate for Impact “ – by being much better at H3 or Disruptive Innovation. Further, the time to excel at Business innovation is now to recognize – the rate of change is increasing, the high importance of making good on new opportunities, rapidly rising User expectations, the need to create new products / services having high appeal, be good at monetizing wealth creation, effectively manage the changing nature of risk, etc.
Given the dynamics and that with 88 % of companies in the Fortune 500 list of 1970 are gone and 40% on the current list expected to be gone by 2030 – if decision makers aren’t proactive in meaningfully improving business outcomes from innovation in the near term – there could well be no long term for the enterprise !
March 2021 CAIL Innovation commentary email@example.com