Disrupt, Collapse, and Transform

Social change is fast taking place in developing economies, as the business and technology are fusing together and becoming part of the lifestyle. Trends that are creating widespread disruption, collapsing industries, and transforming spaces are giving context to opportunities for growth.

GIL India: 2013 paved the way for an interface with delegates on 'Disrupt, Collapse, and Transform - Are You Ready?' As disruptive technologies replace current trends the presentation drew the delegates' focus to what they could do to cope with the rapidly changing business environment - from newer business models to integrating 'Smart' with everyday objects. With the virtual world becoming increasingly commonplace, the world around us is collapsing fast causing the rigid boundaries between industries to fade rapidly. Innovations in technology and materials are responsible for transforming the manner in which the human race interacts with the external environment, associated enablers, and internally within the society.

The Blue Sky Innovation workshop touched upon the current business scenario and concluded that while it is important for companies to focus on the cash cows of the present, the rapidly changing market could mean that the current business is heading towards a dead end. It is important to make sure the companies are aware and in tune with the greater market changes and looking to develop new offerings that keep up, and potentially, disrupt collapse and recreate new and current market spaces.

Mark Simoncelli, Global Director, Growth Implementation Solutions, Frost & Sullivan said, "Blue Sky innovation complements traditional innovation in driving business performance. Collaborations can lead to increased pipeline of ideas, more robust ideas with quicker and more directed development, and a reduction in costs. Innovation requires synergized interaction between all the key players in the broader innovation environment. The key components, separately and in combination, provide the foundation for successful innovation. Organizations move beyond an ad-hoc approach when they develop the capabilities and synergies that support sustainable innovation. But the larger question is - How should you be incorporating Blue Sky thinking into your business?"

The innovation diagnostic proposed by Frost & Sullivan is the first step towards developing the roadmap towards optimal innovation. The diagnostic tool evaluates an organization's innovation readiness through a parametric understanding of its strategic, operational, and resource capabilities or through evaluation of capabilities like Strategy and Leadership, Organizational Structure, Market Intelligence and Insight, Technologies and Resources, Culture and Performance Management, The Innovation Process, and Risk and Portfolio Management.