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10 Predictions for Innovators in 2012

10 Predictions for Innovators in 2012

In an article published on-line on InnovatioExcellence.com, the author brings out that in 2011 companies tried to make innovation an integral part of their culture. The article also makes ten predictions for 2012. Essentially it says that to prosper in 2012, companies will have to involve their entire workforce in the innovative process and be willing to accept new ideas from anywhere. When they are aware of these issues, why is it that some companies will still refuse to adopt a flexible approach to innovation management and will loose their competitive edge and fail?

In all the hype surrounding the various predictions for 2012, an article on the innovation website InnovationExcellence.com examines some innovation related events of 2011 and makes some predictions about innovation in 2012.

In 2011, the article states, the world saw very large growth in the numbers of organizations that pursued innovation excellence. What was noticeable was that they attempted to embed innovation into the DNA of their organizations and make it a core capability. The year also saw organizations involving their employees extensively in their innovation mechanisms and switching from a suggestion box model to a need driven model that responded to challenges and made best use of limited resources.

As far as 2012 is concerned, the article sees ten major trends.

  1. Innovation will be more open and companies will accept ideas from anywhere. There will be a competition for ideas and consequently companies will deliberately woo potential innovation partners. P&G already symbolizes this approach by rejecting the ‘Not invented here’ thought process and adopting a ‘proudly found elsewhere’ approach.
  2. Companies that do not innovate will fail. Organizations will need to make innovation a deep and sustainable capability and renew, reinvent and reconsider their fundamentals continuously.
  3. 2012 will see small businesses embrace innovation extensively. These SMEs will choose between basing their business model on innovation or on invention. If they choose to focus on an invention, they will not grow beyond the invention. These companies will need to build a culture of experimentation, learning and information sharing. The difficulty will be in innovating continuously without dedicated manpower and on small budgets.
  4. The year may also see governments getting increasingly involved in nurturing innovation. We have already seen the US and the EU pledge large sums to support innovation. This is not limited to innovative nations alone. Other nations, not highly ranked in the innovation index are also taking steps to help companies innovate.
  5. Entertainment would give way to self expression. More people are self publishing books than are reading them. Passive entertainment will give way to self expression.
  6. Leaders will need to change. They will need to evolve into people who can think outside the box, use social media, converse with their people instead of directing them and be able to use their employees’ ideas, passions and insights into their organizations.
  7. The traditional book publishing industry will give way to eBooks. Traditional publishers will possibly evolve and learn to use digital media and adapt, but it is quite possible that self publishers will gain the upper hand in this contest. Amazon, on the other hand is evolving new compensation models and services.
  8. Apple – which has already revolutionized media players, cellphones and tablets will probably launch an iTV that will be a beautiful blend of TV, streaming media and applications. If such a product were to be launched, it would be a logical next step from Apple.
  9. The focus of all devices and innovations will be on purpose. A sense of purpose will drive innovative efforts.
  10. And finally, the article makes a quirky prediction that says that Mexico will use the prediction made by the Mayans to draw tourists to the Mayan Tombs. This way people can see the end of the world occurring from the very location where the prediction was made centuries ago.

Note: The preceding is a summary of an article found though our research, and is provided here with editorial comment for members only. Please see the full article at the following link for full original content. http://www.innovationexcellence.com

The New Asia Innovation Team

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