June 16, 2011
We’re kicking off day two of the 2011 Planning and Innovation Institute in Baltimore with a focus on innovation and how to leverage change to your strategic advantage. My general advice for organizational survival is that the future belongs to the organizations that are part of the change process – not those that are part of the resistance to change.
Today’s sessions focus on the innovations that are shaping the marketplace, such as:
Smart homes (see Smart Homes = New Consumer Choice all members and First MedCottage Units Available for Lease or Purchase )
Cognitive retraining (see Cognitive Training Effective at Improving Memory Recall and Posit Science Launches Brain Odyssey—Free On-Line Brain Games )
E-health (see Payers Pushing the Edge of e-Health all members and Integrated Systems of Care: Models for Expanding Behavioral Health Service Access with e-Health ).
Innovation raises questions in every market: What products or services will innovation replace? How does your organization use new technologies to gain a competitive advantage? How do you adapt your business model? And, most importantly, timing and transition – how fast will innovations be adopted by the market and how do you shift your organization to the new operating mode?
These aren’t easy questions to answer for any organization. And they have certainly stimulated a lot of discussion over the past two days among our attendees.
The key is to develop and refine your value proposition in the new environment. Finding a way to reframe market challenges into opportunities will be your organizations best bet for success in the future. (For more on “reframing” the market, see When It Comes to Disruptive Innovation, Think Reframe, Not Protectionism .)
If you couldn’t make it to this year’s institute, be sure to follow me on Twitter, where I will be sending updates throughout the day (@monicaoss #11PII) and check out the event web site where you will be able to download presentations from throughout the meeting.
Monica E. Oss
Chief Executive Officer, OPEN MINDS
To read more, see: If You Can Be Replaced by a Smartphone, You Will Be all members
This is free for the next sixty days to all registered OPEN MINDS Circle members.