Open Innovation Ecosystem EarlyBirds.io is pleased to partner with the Leading Innovation Summit being held in Sydney from 28 – 31 March 2023. This first of its kind event, will provide leaders with the skills they need to encourage and drive innovative thinking throughout their organisations. The summit was created by The Leadership Institute with the aim of helping all types of leaders with continuous learning to develop and hone their management and leadership skills. The four-day immersive program will provide learning and mentoring from the best innovative leaders globally.
The Leading Innovation Summit’s programs are based on The Leadership Institute’s four pillars of ethics: trust and purpose; innovation, technology and digital leadership; equality, inclusion and diversity; and strategy, growth and development. According to The Leadership Institute, the winners of the global innovation race will land the next generations of consumers and provide better services to stakeholders more efficiently. A recent McKinsey survey indicated that 70% of senior executives view innovation as one of the top three drivers of growth for their companies in the next three years. Yet most executives are generally disappointed in their ability to stimulate innovation. More information about the event can be found at the event homepage, https://www.theleadershipinstitute.com.au/leading-innovation-summit/.
There are two main types of innovation. The first is sustaining innovation typical pursued by businesses wanting to stay on top of their market. The other is disruptive innovation when smaller companies challenge larger businesses ranging from low-end disruption to new market disruption where new market segments are created. The most successful companies incorporate both types of innovation into their business strategies. While maintaining an existing position in the market is important, pursuing growth is essential to being competitive. It also helps protect a business against other companies affecting its standing. These types of innovation foster adaptability to market forces, stimulates growth and separates businesses from competitors.
One dilemma for organisations is balancing the demands of the operational world with the innovation world. The operational world reflects an organisations routine processes and procedures where risk taking in usually discouraged. In the Innovative world creativity and experimentation is encouraged to enable creativity and experimentation to openly explore ideas and trends. However, both worlds are necessary for innovation as creativity must be grounded in reality.
According to McKinsey ‘leadership in innovation requires a commitment to an operating model based on it. Organizations that hope to catch up to the leaders must stop treating innovation as a product game and instead evolve new business models. They should also take a more iterative approach to development and make scale a requirement from the start. Even committed innovators have room to improve, but the volume of innovation during the recent crisis shows that companies can overcome even the harshest challenges if they have the right practices in place and believe that innovation matters’. For companies that understand this, EarlyBirds offers its Early Adopter programs, which can be found here: https://earlybirds.io/en/early_adopter
EarlyBirds offers its unique and world leading open-source intelligence platform and services to leaders and managers, across all types of business sectors, who need to function in both the operational and innovative worlds. The platform holds data on over 4.5 million global innovators covering startup, scale-up and mature companies across all types of technologies. Its range of offerings and services is designed to enable organizations with the capabilities they need to address the strategic and tactical needs to function effectively in the operational and innovative worlds.
EarlyBirds ecosystem innovation maps are created on a business or technical theme and populated with global industry data that is dynamically updated. The maps have multiple uses from providing critical data for strategic decision making including the impact of emerging and disruptive technologies through to solving wicked problems, understanding strengths and weaknesses, and determining opportunities for collaboration. The EarlyBirds framework and collaboration tools are designed to assist companies and leaders to scale their capability edge. Innovative companies interested in connecting with other organizations via the EarlyBirds platform can find out more here: https://earlybirds.io/en/innovator
SOURCE: Press Advantage [Link]
Early Birds is a B2B platform for Innovators (Startups/Scaleups/Mature), Early Adopter organisations and SME consultants to solve business challenges.
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