Digital Transformation and Innovation Management: How to Stay Ahead of the Competition

Digital transformation describes the dramatic ways in which businesses are adapting to meet the requirements of today’s digital era

—one in which we are facing profound and far-reaching changes in the way digital technology is created, managed, analyzed, and consumed. Digital business transformation is a paradigm shift. As organizations race to digitize more and more of the services they provide, we enter the age of “more”—more people, using more technology, from more locations, on more devices, for more of the time.  

Innovation in management principles and processes can create long-lasting advantage and produce dramatic shifts in competitive position. Over the past 100 years, management innovation, more than any other kind of innovation, has allowed companies to cross new performance thresholds.

In a recently published article entitled, “Digital Transformation and the Successful Management of Innovation,” author and expert, Fred Isbell, writes:

“Building a tailor-made solution– especially when it touches the mission-critical needs of the business – requires close collaboration between the enterprise and the team building the solution,” adding, “With the speed of disruption taking place in the marketplace, it is important that businesses move fast to maintain or achieve competitive advantage.”

Yet strangely enough, few companies have a well-honed process for continuous management innovation.

Why is management innovation so vital? What makes it different from other kinds of innovation? How can you and your company become management innovators? These are all important questions to ask. Isbell gives us an example of a particular type of innovation:

“There is a lot of buzz around application intelligence, where machine learning enables computers to learn from large amounts of data without being explicitly programmed,” Isbell writes. “This is something that everyone expects to take off, and we are already gearing our team up to prepare for this next wave of innovation.”

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