Paul Schoemaker has published an interesting article at Inc.com where he identifies four future innovation trends that help companies determine where they are headed. In his mind “companies are moving from inside-out innovation to open innovation”, as they no longer develop change by building upon their own strengths, but they rather source from the outside “with a connect and develop” approach.
What does this mean for our businesses?
- “Quantum innovation“. This category is related to “out-of-the-box” thinking, the kind of change that is so disruptive that it can only be compared to the likes of Elon Musk or Richard Branson. This category includes all innovation efforts that signify a paradigm shift and re-imagine our businesses from the bottom up.
- “New organizational forms“. Companies are slowly saying goodbye to the old “9-to-5, Monday-through-Friday” work environment. Many new firms don’t even have an office: they are fully virtual companies. Even those who seem more traditional are changing: Zara may be a fashion retailer, but it’s “sense-and-respond” approach to business means that it brings new products all around the world on a weekly basis.
- “Reverse innovation“. Instead of developing innovation in mature markets and then outsourcing its production to emerging countries, many organizations are doing the exact opposite.
- “Embracing mistakes“. A culture of risk helps promote entrepreneurship… and with it comes a more humble approach to innovation, where we see projects as experiments that may fail but will still yield learning opportunities for future success.
Ennomotive is trying to bring these changes to real businesses! We are looking for talented engineers to accelerate the innovation process of large companies around the world, so make sure to register as a solver and you will soon be able to participate in challenges that reward you with enhanced knowledge and potential money prizes!