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The focus on costs is gone, and so the focus on competition performed with an exclusive focus on cost reduction. The time of finance is over, as well as the attempt that many entrepreneurs have tried, in order to make their financial deals as a business driver itself, losing its meaning as an exclusive support to their core business. Now, and if the price to pay was not so high, I would say, “finally”, we only have innovation left, to save public and private companies.
I am not talking about a "heavy", primary innovation - perhaps today there are not even the proper resources to undertake it - but rather a "light" innovation, based on new applications and new combinations of existing drivers and factors.
Innovation is neither discovery nor invention, that they do not generate innovation by themselves.
The key word is "knowledge". It is not a new concept in our world and has often been revived as a part of the equation: data, information, knowledge.
OECD argues that innovation is responsible for more than half of productivity growth in highly developed countries in the decade preceding the crisis. Or, in other words, innovation is the most important engine of economic growth.
The OECD also shows how the innovation process has become very complex, going well beyond the development and introduction of new technologies. This means that only innovation can save us from the crisis and that innovation basically means changing the mode of production/service and of the organization of work. In this context, business & social intelligence becomes an essential and strategic tool to facilitate and lead these changes to meet and recombine demand and expectations: we must think and be able to use it at best!
How strong is your "intelligence" ability? How sensitive is your ability to perceive and put into circulation the signals coming from customers and markets? How much is your performance management system able to forecast and anticipate? How integrated is your financial planning system?
If you put high ratings to all these answers, it means that your company is already doing well and that you can only improve, if there is some "fairly well", it means that it is really the time to raise the score!