According to EY, Agile Innovation is “the art of making hard things easy and creating new viable business offerings faster”
In today’s digital age, where we are continuously connected and online from anywhere, customers expect and demand more. Companies that don’t delight and wow customers will soon be replaced by those that do!
Innovation in the digital age has forever shrunk the cadence of business; companies need to create new business offerings faster. To reach 50 million customers, it took Google 6 years in 1996, Facebook 3.5 years in 2004 while in 2010 Apple only needed 1.5 years to sell 50M iPads! Those companies that embraced Agile have ridden the digital waves of technology while companies that were rigid in their approach and didn’t adapt ceased to exist –Do you still remember Circuit City, Blockbuster and Nokia? – In today’s digital age, these would be your Amazons, Netflix, and Apple!
Innovative Products, according to David Jensen of EY are products that:
• Improve Lives
• Disrupt traditional patterns
• Delight Customer
Don’t agree? Think Uber, and AirBnB!
So how can you embrace Agility to improve the innovation factor in your company?
- Empower all your employees to be creative and think out-of-the-box
- Collaboration is the power of your Agile self-organizing teams
- Don’t punish uncertainty
- Fail often and fail fast as you experiment with new products and services
- Use Agile retrospectives to inspect-and-adapt to maximize value release
This above article is inspired by a presentation by David Jensen of EY titled: “Delivering Agile Innovation”