Dave Nemeth, a consultant to businesses on change, discusses the need for companies to change cultures when it comes to innovation.
According to Dave Nemeth, a consultant to businesses on change and moving forward, companies are quickly coming to the realisation that innovation won’t simply come from individuals within the business or business units and departments, but rather from the company as a whole, creating an urgency to change culture.
Publications such as Harvard Business Review and Fast Company have been writing about the topic of company-wide innovation for some years, but the urgency will be better realised in 2016. “Executives will be forced to explore new approaches such as design thinking and holacracy, which not only define new business strategies but also company structures and operations,” explains Dave.
“Companies will realise that they cannot do everything in-house, and they will realise how the use of external companies and consultants can assist with this business remodelling, ensuring a smooth process, whilst not decreasing existing revenue by being overzealous without researching and identifying the correct and safe opportunities.”
Along with this, one can expect to see many changes in marketing departments and in some cases even changes in the way we refer to processes within the business. “The way in which we communicate and connect with clients has never been more complicated,” Dave highlights. Collaborative teams will be the order of the day, instead of specialised roles and responsibilities. This will assist in eradicating the silo culture of many marketing departments, which continues to mislead consumers instead of gaining loyalty.
Outdated terminology, such as below the line, above the line, multi-channel and so on, will be replaced with terms such as PIM (personal interactive strategy), LBM (location-based marketing) and IOT strategy (Internet of things). “The marketing department will need to be involved throughout the early stages of product or strategy development, instead of later in the process,” he concludes.
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