If you’re not actively exploring what’s happening at the edges, you risk becoming aware of new threats to your current business model only when it’s already too late to catch the new wave of opportunity.
Much has been written about the need to review the capitalist models and the need to shift to ‘profit with purpose’ models that create ‘shared value’. Yet the rationale for creating shared value (CSV) is sometimes poorly understood, and it's important to distinguish it from corporate social responsibility (CSR).
In a digital, globalised world, with all the concomitant concerns of authenticity, biosecurity, financial security and money laundering, blockchain technologies are set to enable rapid, cost effective identity management, asset tracking, compliance and certainty of transaction completion.
The ‘big data’ generated by smart connected products is business’ new core asset, and capability in analytics the key to unlocking trapped value from the aggregation of multiple data sources within new data lakes. For those who move quickly, there is the opportunity to significantly expand their current industry boundaries.
Mention innovation to most people and, invariably, their thoughts will turn to the product offering. Yet opportunities for innovation can occur though throughout the value chain - starting 'backstage', within organisations' business design, right through to 'onstage', addressing customers' experience of the products.