In today’s rapidly changing business environment, companies that rely solely on full-time employees are finding they have neither the skills nor the agility to sustain success. For instance, 40 percent of U.S. companies can’t fill their open positions, according to a McKinsey Global Institute study that found that analytical, engineering, and management roles are the hardest to fill.
CIOs drive innovation by building digital awareness, forming digital innovation teams, and creating innovative opportunities in the form of new products and services. This three step approach accelerates the innovation cycle and optimizes the leveraging of information and technology for competitive advantage.
According to this research article, except for the COO role, the executive whose traits were most similar to those of the CEO was the CHRO. The researchers asserted that in our modern economy where attracting talent, creating the right organizational structure, and building the right culture are essential for driving strategy, the CHRO’s experience makes a leader more likely to succeed at those tasks.
Large, established banks and financial institutions are moving away from physical branch locations and toward technologies such as mobile payments, wearables, social media and gamification to enable remote interactions.
This article can also be viewed at cio.com
Identifying the desirability of new products has always been a challenge, especially so for innovation products. As Lenovo step into the fast changing PC+ era, the company feels an urge to adopt requirements on consumer insights such as faster, lower cost, and larger sample size. Social media has thus been selected as one source to test products/features to determine customer desirability; improvements on value proposition. We will share our learnings in this process on how Lenovo adopts social media data into product innovation process.
Ruoyu Bao is the head of Global Analytics Hub for Lenovo. He was a physicist by training, who also gained business acumen through strategy roles at McKinsey and Lenovo.
This presentation can also be viewed on ieondemand.com