In a world of hyper-competition, continuous innovation is imperative to gain a competitive advantage to find and defend the sweet spot that defines future success. However, the coin has a flip side, as product and service innovation is often expensive and can be easily imitated by competitors. A company’s ability to define and redefine its capabilities, satisfying customers’ needs on a deeper level not fully explored by its competitors, has become a skill and the path to success in the twenty-first century.
The life cycles for competitive advantages are diminishing in time, and the importance of building meta-capabilities, using market dynamics in conjunction with a corporation’s inherited strengths, is rising. Process innovation, business model innovation, management system innovation, and service innovation are examples of innovation types that lengthen the cycle for competitive advantage. Supernormal profit instead of diminishing margins and constant growth instead of declining market share and turnover are the results of successful corporate innovation management – that is, innovating and executing, on a micro and macro level, short term and long term.
Bearing has unique competence, academic and practical, combined with extensive experience of generating successful results, short term and long term. The key lies in a highly strategic and academic level of knowledge and insights combined with a superior track record of executing projects at high speed in complex environments globally. We work worldwide, constantly challenging ourselves, looking for new insights, methods, tools, and processes and helping our clients achieve their goals.
Corporate innovation projects with Bearing often start with assessing current capabilities and potential to develop new capabilities, using the Bearing Innovation Navigator.
The Innovation Navigator approach covers the following:
- An X-ray of the business to uncover all aspects of your innovation capabilities.
- Presentation of actual and perceived strengths and weaknesses, showing your innovation patterns.
- In-depth analysis of your organisational and staff qualifications.
- A tangible roadmap on how to improve your efficiency in terms of innovation and execution.
- A visual Internet-based tracking tool measuring and tracking progress in the area of your interest, securing maximum return on all measures taken.
- Benchmarking versus your industry and/or the ‘best in class competition.
- Establishing a unique long-term strategy, building innovation capabilities, capitalising on your unique sweet spot and extending your market space.
- Focussed on talent management strategy to release the full potential of your business aligned with your corporate strategy.
- Assistance in closing contracts, monitoring delivery and reviewing customer satisfaction.