You're faced with investing in innovation or optimizing operations. How do you decide on your strategic path?

It's not a choice between the two. Innovations that don't inherently optimize an organization that isn't already running efficiently will likely be a distraction or source of overwhelm. If an innovation will optimize a process or output, it is always worth exploring. Innovation for the sake of innovation is often the downfall of organizations that care more about optics than actual impact.

One thing I learned over the years is to be honest with your core competencies as an organization. Is the organization better equipped for optimizing operations? Do you have the resources to realize the benefits in a timely manner? Take a bold look at your track record in these areas. On innovation, does the organization perform at a higher level than most in the industry? Be honest with the assessment and maybe best to lean toward the area which supports the core competencies you have in place.

Innovation and optimization go hand in hand. While it is difficult to estimate the ROI of innovation accurately; optimization can show clear outcomes. Share the investment and resources in a manner that both short and long term interests are served

Start with the end state in mind .. ask yourself and the team what are you goals and trying to accomplish. Work backwards from there and determine if the tasks and elements not accomplish that goal are time based , event based , constrained by resources and bounded by risks. Find ways to have and give regular updates and feedback to people and progress

Aunque son dos desafíos claramente definidos, no tiene porque ser absolutamente excluyentes. Sin embargo, el foco a seguir, podrá surgir del análisis inicial del equilibrio de aspectos internos y externos de la compañía. Vale la pena analizar el equilibrio de fortalezas y debilidades Vs. el de oportunidades y amenazas. Esto dará una idea de la posición competitiva de la compañía y ayudará a determinar el énfasis estratégico. Eso si, en ningún caso, deberá descuidarse ni las operaciones, ni la innovación.

Analysing market trends should come first. There are most likely several trends in a different mix by geography. It will require to address them distinctively and sequentially when resources are limited. Strategy will be to lay these next to the company competitive advantage and potential business growth to define where to act first.

Start with understanding customers, their needs, their journeys and how well are you currently able to alleviate their pains or improve the process for them. Competitor moves while serving as an important indicator of the overall trend, do not necessarily indicate successful decisions and without deep insights into their business performance, it is difficult to estimate positive or negative impact of initiatives or technologies. Internal expert teams should be assembled to come up with solutions after the customer journey is clear and deconstructed into critical elements, which can be addressed through innovation / new offerings.

No se debe gerenciar pensando solamente en el corto plazo, el desafío de liderazgo pone un pie en el presente y otro en el futuro. Tener un buen producto o servicio, no es suficiente, hay que ejecutarlo muy bien, llevarlo al mejor estándar del mercado.

I remember an interesting case with one of our company's suppliers, a digital marketing agency in a highly competitive market. Although they had innovative campaign ideas, they faced challenges with inconsistent delivery timelines and irregular communication with clients. Seeing the opportunity for improvement, we decided to work together to address these issues. We implemented a project management tool to enhance collaboration and transparency, as well as provided training for their team on effective client communication and feedback integration. These initiatives not only optimized project execution but also increased client satisfaction levels, solidifying our relationship as reliable strategic partners in the market.

Planificar los recursos. No solo se puede vivir del ahora, un negocio que no se renueva, pierde a la larga margen. Tampoco se puede pensar solamente en el largo plazo. La rentabilidad debe permitir la reinversión; la verdadera pregunta es: quien soy hoy? qué quiero ser?

In a previous role at a manufacturing company, we faced the challenge of optimizing our production line efficiency without a large budget for new equipment. Instead of investing heavily in new machinery, we focused on analyzing and redesigning our existing processes. We conducted time-motion studies to identify bottlenecks and inefficiencies, then implemented lean manufacturing principles to streamline workflows. This approach involved cross-training employees to handle multiple tasks, reducing downtime and enhancing productivity without significant financial investment. By leveraging existing resources and strategically improving our operational processes, we achieved substantial cost savings and improved overall efficiency

Ce n'est pas parce que l on détient une pépite que le marché est gagné. Innover entretenir ameliorer, protéger ses brevets dans le monde entier. S'entourer et se faire conseiller Rester à l écoute des besoins, des critiques. Consacrer un temps défini et s y tenir sinon l innovation va vous coûter cher ou vous ruiner.

Long term success come more from the right management of opportunities than risks. Risks must be dealt with diligence, but opportunities must be pursued with even more determination. A business that does not gear towards the best possible outcome will never win.

Ignorance of one’s own competitive advantage is the foundation of a strategic misfit. And the resources allocated to this awareness are regularly undersized. This is the second most important task after market trend : competitors analysis.

Attention à l'identité et les valeurs de votre marque car innover ce n'est pas copier mais apporter un produit nouveau et innovant qui n existait et qui répond à un réel besoin. Le meilleur moyen d innover est de résoudre un problème ou de combler un manque.

You have to develop a 10 year path forward which connects your optimization investment with your innovation plan. There has to be a balanced approach. If you only focus on today you will be reacting to every risk. Becoming climate resilient will require investment in innovation. Which can be partially offset by your optimization. It’s not an “or”, it’s an “and”. Focus on the balance and you’ll find success today and in the future.

Strategy is a martial art. Design is already a challenge but implementation is a constant fight against your own organisation, who is biased to deprive you of all resources and direct them to meet short term targets instead of long term goals. Do you have a robust resilient dedicated strategic team?

To effectively manage a company's technical debt while implementing new technology, it's crucial to conduct regular health checks on your tech stack to identify risks and security gaps. Balance proficiency in both old and new technologies to keep your team adept and systems robust. Maintaining a healthy tech environment involves mitigating risks and integrating new advancements without compromising existing infrastructure.

When you optimise you gain marginal improvements on the "as is". When you innovate, you have to rethink and then re-do the whole set-up. so that gains are in orders of magnitude.

Do not always consider the investments to be two separate investments. You are likely at the decisional point of Innovation or Optimization because of unique requests received from stakeholders and/or business intelligence. Be creative and resourceful. In fact, they may and should be a single investment, merging the requirements into a single investment to gain efficiencies and cost savings while employing cutting-edge innovations that will drive business improvements and overall business optimization. You secure the business impact while also gaining broader stakeholder advocacy for finding the win-win.