Tapping Innovation Potential

Download PDF

Tapping Innovation Potential

Experience No.: 58

Innovation requires creativity and freedom based on a systematic course of action, appropriate methodology and technological leadership.

Today, products and services are available around the clock and mobility continues to grow. As a result, customers are constantly tempted to change providers at the click of a mouse. For this reason, almost all companies, regardless of industry or business model, face two major challenges. First, they need to sufficiently innovative to stand out in their core business. Second, they must secure customer loyalty, as this is up to seven times more cost-effective than acquiring new customers.

Mastering both of these challenges requires the right basic conditions. This is why this issue of Experience is completely dedicated to specialized consulting services. As the articles in this issue will show, an outsider's perspective helps remove obstacles that may seem insurmountable from the inside.

The first step is to determine an organisation's level of maturity with regard to the basic conditions for innovation and customer loyalty. You can read more about that in the first article. The second piece looks into appropriate methodology: which methods should be used to make complex investments in the future, while respecting given deadlines and budget restrictions? One solution could be migrating to new systems. The third contribution examines how a successful balance can be struck between flexibility and maximum customer focus? Finally, in the fourth article we show that taking responsibility for customer requirements can also mean outsourcing certain tasks to help the customer concentrate on their core business. However, this can only happen if the external partner is able to create the strategic and operational space required.

We hope you enjoy your read.