According to Ugo Geri – Robert Managing Consultant the Insight Place (TIP) in Lagos COVID-19 sneaked on the world economy but the development has created opportunities for a change of status quo along many fronts. Zoom and Teams meetings are now a way of live , working from home is not a big deal any more just as university education and certificates are beginning to lose their value …our world is indeed evolving in many ways.
Sound iinnovation helps create new methods for alliance creation, joint venturing, flexible work hours, and creation of buyers’ purchasing power. Innovations are divided into two broad categories: Evolutionary innovations (continuous or dynamic evolutionary innovation) that are brought about by many incremental advances in technology or processes and revolutionary innovations (also called discontinuous innovations) which are often disruptive and new. Innovation is synonymous with risk-taking and organizations that create revolutionary products or technologies take on the greatest risk because they create new markets. Imitators take less risk because they will start with an innovator’s product and take a more effective approach. The reward of the genuine innovators are obvious and that’s the interest of this piece,
While working within the Kantar marketing research system in Africa , regional boss and marketing research guru Charles Foster severally drew our attention to the fact that the use of mobile devices for collecting data is the way to go but many clients and researchers resisted the suggestion but when COVID -19 hit us all , no persuasion was required for all stakeholders to ‘ think without a box’ and the journey so far though rocky and not smooth, we are moving forward and that’s what matter.
Marketers are blazing new trails as they prioritize innovation, digital transformation, and a work- from- anywhere culture that constitutes anything but “back to normal.” To get here, our industry and others are embracing technology, data, and new measures of success because we do not want to die. Because we refused to innovate.
The origin of the phrase “innovate or die” is a matter of some dispute. Professor Peter Drucker father of new school management famously declared it, though others may have shared in its coinage. But whatever its genesis, the sentiment is now widespread: Stay ahead of the pace of change or you’re toast.
Your complacency could put you at a disadvantage because you may miss out on the benefits of a fresh, updated mindset. In fewer words, stubbornness(and a lack of willingness to innovate) can leave you in a dangerous position, especially when everyone around you is innovating…while the fear of the unknown is palpable and real. Clients and marketers can’t afford to be fence warmers they must in the words of Adi Ignatius editor in chief Harvard Business Review innovate on the fly to ensure corporate survival.
Feel free to share your thoughts with me : Michael Umogun , Deputy Registrar , Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) 08023117969.