Understanding The Impact of SMAC & Innovation

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Accenture, Analytics, Big Data, Business Ecosystem, Capgemini, Cloud, Google, Innovation, Marketing, Mobility, Radical Innovation, SAP HANA, SMAC, Strategy, Technology

“It would be a terrific innovation if you could get your mind to stretch a little further than the next wisecrack”

– Katharine Hepburn, Academy Award winning American actress

In the last blog, we introduced some of the terminology used in innovation. In this post we discuss examples of innovation in the two types of companies – product companies and services-based companies. Interestingly we notice, the former is easily getting into the space of the latter, but not vice versa!

If you study Google for instance, they approach Innovation by –

1) Developing products at “Scale” (more than 1).

2) Doing things that amazes people, make them go ‘wow’. Going the “Radical innovation” way.

3) Systemize by using a portfolio approach. Making various groups innovate independent of each other and changing organization structure. You will notice Google is not simply/randomly developing products. There is a careful portfolio approach that drives a product or a service offering to use the other.

Innovative enough for the job application?!

If you study companies like Capgemini and Accenture, Innovation show typically the characteristics of –

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An Introduction to Innovation – Types, Categories and Design

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Business Ecosystem, Exploration & Exploitation Innovation, Innovation, Open & Closed Innovation, Radical & Incremental Innovation, SAP, Schumpeter, Strategy, Technology

“Science fiction writers foresee the inevitable, and although problems and catastrophes may be inevitable, solutions are not”.

– Isaac Asimov, Professor & Science Fiction Author

For long innovation has captivated the minds of many. No difference with me. So I thought why not blog about innovation? Why not give a brief overview if possible? Anyway, I had specialised in innovation and entrepreneurship while at TU Delft 🙂 This blog is unlike what I usually post, but hope it’s useful and we understand innovation in a somewhat different way!

I’ll start with Schumpeter’s definition of “Innovation”. Innovation is characterized by new (re)combinations of products, processes, services, markets & organizations. I like this definition particularly because Schumpeter looks at Innovation holistically. I won’t go into definitions henceforth but summarize and give an overview of classical literature in 2 lines and add a third, albeit my vision is part of this third statement. I won’t be audacious or foolish to claim this covers all of innovation and their terms (because they do not), but I would be fair in saying the broadest range is covered below.

Innovation grows and can actually be designed!