“Innovation and resiliency are two sides of the same coin, a coin that unlocks our potential to meet the challenges of an ever-changing world” - John Dumo, SCS instructor.
The pandemic has shown us just how fragile many of our operational systems are. From health care to supply chains, we are seeing the importance of organizational resilience — a concept that is often overlooked in business strategy. Most organizations want to be more resilient, however many do not know how.
A company’s ability to adapt, recover, and thrive in altered circumstances is critical to its longevity and success. “Innovation and resiliency are two sides of the same coin, a coin that unlocks our potential to meet the challenges of an ever-changing world,” says John Dumo, Director of Customer Experience and Business Transformation at Softchoice, a leading North American IT solutions provider. “When paired with the tools to quickly anticipate and address obstacles to innovation, that coin buys us the insurance we need to avoid pitfalls and enables us to pivot while staying ahead of the pack. In these times, it is those individuals and companies that put innovation and resiliency to work that future-proof their organizations, and create an environment of relevancy for years to come.”
Today’s business environment is unpredictable; factors such as rapidly evolving technology, interconnected markets, changing climates, and mounting social inequalities all contribute to a highly dynamic landscape. And of course, the pandemic has had unimaginable effects on businesses. “In January 2020, every single company, small or large, had some business plan for the year ahead. By March 2020, every single one of those plans were worthless and impractical. When the pandemic hit, nobody in the business world had a plan for it,” says Ferhan Bulca, a VP in the medical device industry, serial entrepreneur, and innovation expert. “As a result, hundreds of thousands of businesses worldwide went out of business, or will in 2021. In contrast, a large number of companies thrived in the pandemic.” According to Ferhan, some well-known companies have expertly innovated in the face of chaos. For example:
- Amazon quickly adapted to an enormous increased demand by continuing to offer fast delivery while prioritizing high-demand items, such as coffee and dog food.
- The Gap utilized its textile business to address the shortage of personal protection equipment (PPE) in the USA.
- Givenchy, Louis Vitton, and Dior all leveraged their perfume and cosmetics manufacturing capabilities to deliver hand sanitizers, instead of luxury fragrances.
“These companies used their strengths to address a rapidly emerging market need in a way they had never planned,” he explains. “The fundamental capability they had was their ability to recognize an emerging need, know their strength, and create a solution to meet the need. Innovation is addressing a real need in a timely manner. Companies that can do that, repeatedly and consistently, will continue to be with us for a long time. Those that cannot, will have a short shelf life.”
So how can companies cultivate and exercise resiliency and innovation? According to Michelle Sengara, a learning innovation strategy consultant, innovation is not just a business outcome, but a systemic process that directly connects to organizational culture. “With many moving parts to consider, it's critical that both individuals and organizations are able to better identify and address the components required for a culture of innovation,“ she says. “By breaking down innovation into smaller themes, such as lifelong learning and data management, we are able to train specific skills, like creativity and communication, and learn how to more sustainably build and maintain either an individual's or an organization's capacity for agility.”
If you are eager to foster innovation and resilience within your organization, our Innovation program explores concepts, frameworks, and processes that will help you identify, develop, and deploy innovation opportunities. Through hands-on, practical exercises and projects you will learn skills you can apply directly in your day -to-day work, while receiving valuable feedback from innovation experts.
Check out our program if you are ready to:
- build resilience
- improve processes
- gain competitive advantage
- evaluate current processes and resources
- identify opportunities for resource reallocation
- find solutions for new and unexpected challenges
- stimulate idea generation
Upcoming courses:
- Foundations of Business Innovation, Instructor: Ferhan Bulca, starting March 3, 2021
- Systematizing Innovation, Instructor: Michelle Sengara, starting March 10, 2021
- Leading Innovation and Managing Development, Instructor: John Dumo, starting March 11, 2021