For Olle Alvemark, Scandinavia Industry Director at IFS, one of the main drivers of innovation should be problem solving.
“Looking at our market and our customers we see a shift towards growth as the main driver for innovation,” shares IFS’ Olle Alvemark, “Even as cost savings and productivity are still important, companies now look to innovation to help them grow and stay in business for a long time.”
Growing means learning, and one of the trends today is instead of starting innovation with the newest technology, organizations start with a problem to solve, “Begin with one important question, followed by, ‘How do we get the answer to this?’ One initiative that we have is IFS LABS. It enable us to explore and implement new value to our customers.”
In order to create value, there has to be an understanding of the different stakeholders’ problems and drives, “Co-ops has created some of the most important innovations ever, but sometimes the projects tend to be too big to handle, so it might be a good idea not to scale a project until you can see the value. To start small and create a minimum viable product to test might be the better idea.”
In Alvermark’s observation, many startups have a very strong vision and they are able to change and adapt, but still keep the drive, “Established companies need to understand that change is good and that you are allowed to change as long as the value to customer is in focus. New companies often do not survive more than a few months if they don’t deliver customer value – which is a pretty powerful adaptation driver.”
Take the soon to be legendary innovation disruptors Airbnb and Uber, “They will probably still be used as examples for a time, but new innovations will come for sure. Artificial intelligence is fast approaching and we’re already seeing examples like IBM Watson. The possibilities around AI are huge and we will surely see new products, solutions, and services around it that will change the way we live and work.”
The Industry Director also enumerated three innovation musts:
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