Innopreneurship: helping big businesses win big in today’s hyper-competitive global market.
Innopreneurship, the strategic combination of innovation and entrepreneurship, was the focus of the 2014 Business Transformation Summit. The two-day series of presentations and workshops was hosted by the Business Transformation Service (BTS), the Business Transformation Academy (BTA) and the Value Partnership Service (VPS). The event underscored how businesses can adopt a start-up culture to survive and thrive in today’s hyper-competitive global market.
Innovate or die
The need to create long-term, sustainable innovation to maintain market competitiveness is compelling and urgent.
In the past, many organizations have been able to survive with limited amounts of innovation. But today, global competition and the shifting loyalties of demanding customers are rapidly eroding tried-and-true formulas in every industry.
Lars Gollenia, Global Head of SAP Business Transformation Services, told participants in his opening address that the accelerated pace of technology and innovation is forcing large companies across all industries to think differently, act differently and innovate. “All big companies start out as small companies. Those that keep the entrepreneurial spirit alive win,” said Gollenia.
Open minds for open markets: Creating an innovation culture
In large organizations, getting ideas onto the drawing board is infinitely easier than getting them out of committee–the place where great ideas all too often die a quick death.
Otmar Ehrl, CEO of the think tank Querdenker (lateral thinker), told participants that as the frontiers of the old marketplace dissolve, businesses must create new knowledge ecosystems. With modern information-sharing platforms, he said that an organization’s visionaries can now reach across corporate silos and break down the we’ve-always-done-it-this-way mentality. “Out-of-the-box thinking is challenging, but it has its rewards”, said Ehrl.
Enabling individuals and organizations to overcome the strong gravitational pull of the status quo was the topic of Alexander Huber’s speech. The German physicist and extreme mountain climber inspired participants to foresee hurdles, visualize plans and stay focused to climb higher–and faster. In business as in climbing, he said that leaders can overcome limits with the right mindset and experienced, trustworthy partners.
It is not enough for a company to embrace innovation, though. Ultimately, customers must also enthusiastically adopt it. By applying integrative thinking to spot future trends, futurist writer and researcher Dr. Matthias Horx presented “synnovation”–an integrative thinking approach that allows companies to decode complex innovation patterns and make valuable predictions. This allows companies to pinpoint the ideas that are most likely to succeed–or fail.”
Enabling business-centered IT landscapes
In the search for innovative products and services, technology promises to help companies, collaborate, transform business models, accelerate manufacturing and get closer to customers in ways never before possible.
The most successful organizations will create a strong alliance between corporate priorities and IT. BMW global supply chain director Alexander Scholz and Jaguar Land Rover CIO Jeremy Michael Vincent showed how their partnership with BTS has transformed their IT landscape and business model for more long-term flexibility, control and competitiveness.
Today, BMW is using its enhanced SAP landscape to rapidly respond to future economic crises and streamline its supply chain. Similarly, Jaguar Land Rover has worked closely with embedded BTS teams in its “Race to the Top”. Its modernized and simplified enterprise IT architecture is now boosting the carmaker’s productivity and financial results.
Transforming Large IT projects into life-size successes
As project leaders have learned over many years, the road to project failure is paved with high expectations, under-delivery and poor methodologies.
Hartmut Wegener, former Secretary of State and owner of Hartmut Wegener Project Consulting, showcased two similar, large-scale projects with two very different outcomes: Hamburg’s successful Airbus plant expansion and the floundering Elbphilharmonie concert hall. Both projects provide powerful lessons for major IT implementations: Set realistic stakeholder expectations, pick the right person for the right job, and have a very precise strategy throughout.
When it comes to large IT implementations, great methods often produce great outcomes. In the run-up to the 2000 Summer Olympic Games, host city Sydney, Australia set out to clean up its harbor by building a major tunnel. By using the innovative management approach known as Future Perfect, Australian professor Stewart Clegg said that the municipality was able to complete the project on schedule and at only four percent over budget.
Transformation comes with rewards–and awards
Each year, the SAP Business Transformation Award recognizes three companies for making signification contributions to the discipline of business transformation. BMW received this year’s SAP Business Transformation Excellence Award. German sensor solution manufacturer SICK AG received the SAP Business Transformation Achievement Award. Finally, Rete Ferroviaria Italiana (RFI), the owner of Italy’s railway network, took home the SAP Business Transformation Distinction Award.
In accepting the award, BMW global supply chain director Alexander Scholz said that BTS has helped the automaker become a more adaptive company. “Now we have streamlined our business processes globally across the entire supply chain,” says Scholz.
Sumithasri Venkataramagupta Eranti, Global Head of SAP Value Partnership, closed the event by calling on BTS customers, consultants and partners to “keep the innovation fire burning” in the weeks and months ahead.
Learn more at the SAP Business Transformation Summit website.