Innovation Today

So what has changed in the recent past that is making innovations which are driven solely by people working separately a thing of the past. Frankly I can think of three big changes responsible for this situation: These are:

1. Internet and today's interconnected world
2. Globalisation
3. Communication Advances

Briefly let us look at all three and how they have started to impact our innovations:

1. Internet and today's interconnected world - This started off with the internet and access to a huge amount of knowledge and information but is now spreading to social networks and communities of interest where experts can come together and exchange meaningful information. Look around and you will see interest groups being formed in various fields - not just cutting edge topics but even day to day experiences.
2. Globalisation - Truly I don't need to explain more on this. All of us have in one way or other been impacted by the globalisation trend. Today it is very common place to expect to work with people in different regions and time zones. It is not an choice any longer on whether we want to use global resources or not. In many situations it is the only way of working. Of course there are both advantages and disadvantages to this. But let us not get into that. Frankly the point I am trying to make is that you cannot ignore it any longer and it is in your interest to embrace it and see how you can take advantage of it.
3. Communication Advances - Again one of the main factors for the globalisation trend is the communication infrastructure. Today it is possible to feel as connected to the outside world as possible whether your team is in New York, Japan or India. You even have choices of doing this via teleconferences, video conferences or even online web casts.

So what does all this mean to the way innovation is done today? My feeling is that companies are only starting to realise the various opportunities available to them to take advantages of these trends. For Eg: The buzz word today is about having many distributed R&D labs in different locations and try and see if you can localise the research to enable companies to offer better products for a particular region. Here again the teams need to work together to ensure that they are not re-inventing the wheel and also take advantage of the work done by some of their colleagues in other regions of the world.

So in summary - we looked at some of the recent changes which will start to affect the way we are working today (especially when it comes to innovation). Next we will look at some of the challenges facing us today and talk about a few solutions as well.

Please feel free to write your feedback and any comments on this topic or anything related.

Until next time!!!

Bye