Pretty much of what we know today about digital technologies will be going the way of dinosaurs five to 10 years from now. As new entrants disrupt traditional business processes and make clearings for more efficient technologies, less agile businesses are expected to fall away or be pushed off to the back burner.
So how do we anticipate future innovations and stay ahead of the curve?
To remain competitive in today’s digital economy, one thing is important: relevance.
As any successful entrepreneur would tell us, it’s all about keeping an eye on emerging market trends and preventing oneself from becoming too complacent. In the business landscape where companies go neck and neck, it’s important to always pulse check our customers and reach out to them more innovatively.
Innovation as we don’t know it
When we speak of innovation, we’re also looking at ways of building our competencies that can help us establish our position in the long run. We’re not simply after short-term gains; as visionary thinkers, we must gun for solutions that address customer needs sustainably and help us grow a base of fully connected consumers.
As such, an innovative mindset should teach us to bring ourselves out there and pay attention to what the market is up to. What patterns are we seeing? How can we be more attuned to the needs and unspoken aspirations of our customers?
This is the kind of readiness every business leader should know. Referred to as agility in business parlance, this skill will be the prime mover of how companies can ride on the rhythm of the market dynamics, stake their relevance, and survive competition. It’s training our focus on what matters most to our business—our customers—and sharing their journey every way possible.