The challenge of sustaining innovation at a growing organization is one that is not easily solved. While large corporations are able to weather a storm of new ideas, disruptive technologies often pose a significant risk to their business model. The ultimate objective of the sustaining innovation effort is to allow an organization to continue to function in the face of disruptive technological change without fully or partially discontinuing existing operations and functions. To achieve this goal an organizational culture must be in place that accepts and supports the ongoing evolution of its business model to meet the continually evolving needs of customers and competitors.
The current challenge of sustaining innovation relates primarily to two areas: organizational behavior toward external threats, and information security itself. While organizations have been successful in dealing with internal threats, which usually refers to threats to employees and proprietary information, dealing with external threats is a much more difficult endeavor. This challenge relates to the organizational culture as a whole and not just to the corporation as a unit. The larger organizational structure requires much more than a single layer of security – multiple layers of security must be implemented if goals of protecting the company are to be met. This involves creating policies and procedures, and training for key personnel, as well as educating merchants, consumers, suppliers, and other external parties as appropriate.
In terms of information security: the challenge of sustaining innovation relates primarily to how to deal with the threat of internal information security breaches. This includes issues such as the handling of company or network security clearances, the protection of networked consumer data from unauthorized access, and the identification and prevention of security breaches originating from the company’s internal network. Effective measures must be developed that provide a better product for current customers and a cheaper product for the company in the future. Prevention is obviously the easier solution to this problem. Developing policies and procedures to ensure that no information security breach occurs will provide a cheaper solution over time, while providing better security for present customers and for future needs.
Another aspect: of the challenge of sustaining innovation relates to the organization’s ability to stay ahead of technological developments that may impact its ability to deliver new services and products to customers. Innovation may be a constant challenge to businesses if they are not able to respond appropriately. Staying on top of emerging trends helps to ensure that new services and products quickly reach the market. Maintaining effective information systems that can handle the speed and volume of information that is produced by an expanding business requires resources and time that may be scarce in a changing business environment.
While each organization: will face a slightly different set of challenges to handle, all must focus on providing a cheaper product for current customers, meeting present customer needs, and finding a solution to emerging needs. Each of these areas has a distinct set of characteristics. All have an effect on the organization’s ability to remain relevant in a technologically competitive environment.
Staying ahead of an industry in any industry is easier said than done: However, technology change is continuously occurring, and businesses must adapt quickly and effectively to meet growing customer demand and reduce costs while improving service and quality. The key is being aware of changing trends and adopting a strategy that will leverage present technologies while effectively handling potential threats and ensuring a better, more cost-effective product for future needs.
Keeping current customers happy and developing a better relationship with your existing customers is essential to staying on top of technology and evolving to meet new needs.
