The Myth Of Efficiency – Forbes.com


The following article reinforces the argument for business change through innovation.

But if you are too focussed upon cost cutting (improving efficiency), on trying to "sell" (increased new business activity) or "buy" (acquisition) your way through these challenging times surely you are merely endorsing a business culture that has shown itself to be, at least, flawed!?

Not the best route to encourage contribution from your employees and other stakeholders who, inevitably, will feel the pressure of each scenario upon their own position. So, by these actions you are effectively stifling any opportunities to innovate. NOT a good message to be sending out about your business!

If you aren’t "open to innovation" you may be snubbing potentially invaluable input….and so much more….to your business from the very people it relies upon. In so doing handing the opportunity for your competitors and new players to satisfy the new needs of a changing markeplace.

Figure the impact upon your business for yourself! 

Article 

The Myth Of Efficiency – Forbes.com
Everyone talks about the need for innovation these days, but they especially talk about why businesses are so bad at it. Procter & Gamble recently reduced the washing power of Tide, labeled the new version "Basic," and trumpeted it as an innovation. If that’s the best we can do, no wonder there’s such concern. A recent report from the Doblin Group claims that 96% of innovation resources are focused on incremental improvements. The best-selling book Blue Ocean Strategy claims that only 14% of innovations are "radical," and that those few radical innovations produce 61% of profits.

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