Developing full-spectrum innovation capability for survival and success in the global economy

摘要

In the last two decades the competitive landscape for many organisations has been changing rapidly in complex and unpredictable ways. As a result, their ability to survive in the global economy often takes priority over the industrial era goal of profit maximisation. This is particularly obvious now, following the onset of the current global economic crisis, the biggest since the Great Depression of the 1930s. Full-spectrum innovation capability refers to an organisation's ability to create value derived not only from new products and services for customers, but also from changes in its business model, in its culture and in the distribution of power for decision-making. The proposed approach involves pursuing innovations (1) horizontally, working from customer needs backwards along successive stages of a firm's value chain; and (2) vertically, at successively deeper levels of communications and decision-making processes, based on challenging the assumptions underlying the present business model. The purpose of full-spectrum innovation is twofold. The first is to achieve the outcomes needed for survival and sustainable excellence by creating value for customers and other stakeholders. The second is to capture most of the value created from the temporary monopoly-type competitive advantage conferred from innovations.