The triumphs of human endeavor of the last quarter century are indeed significant. The power of technology from intelligent handheld devices, high-speed wireless Internet, bioinformatics, nano and opto technologies to large scale engineering systems deployment in deep seas to hypersonic air and space travel, - in resonance with each other have opened up new frontiers of human imagination. If properly cultivated and purposed we will for the first time in history harness those hidden powers of nature, which could spread innovative solutions and well-being across all nations.
It is important to realize that unlike the previous technological discontinuities triggered by the steam engine and the internal combustion engine which essentially helped mankind to go beyond physical limits of humans there-by change the meaning of space, mass, and time, the developments of the last 25 years today enable us to leverage the power of mind, the power of human spirit, a power which in an ideal world is infinite.
In order to face these challenges and explore new possibilities, we need new approaches, new ways of relating with nature and each other, that will enhance innovative capacity of society and allow us to leverage the power of emerging technologies in ways that will make future progress more equitable, sustainable and peaceful.
Dr. Ghosh argues that leaderships of organizations will need to frequently readjust thier lens as to how they view the problems and possibilities at all levels of thinking/decision making hierarchy, - Philosophical, Strategic and Operational, in turn how we unleash the “power of innovation” to uncover the new rules of engagement with nature and each other.
The Power of Innovation in my view is a product of two fundamental vectors (Exhibit below):
- Perspective or Conscience with which we view the possibilities and
- Courage & Creativity with which we break/reform the rules to realize new possibilities.
Industry will need to learn how to reconfigure the conventional processes with new technologies with a higher-level purpose, while developing more robust systems capabilities with a holistic perspective to tap into earth’s resources in a more responsible and sustainable fashion.
In view of the complexity of the challenges ahead organization will be required to renew strategic discipline for the management of innovation that could drive the convergence of multiple disciplines of thinking to create “innovation led“ growth paths which are profitable, perpetual and sustainable.
Partha Ghosh’s work with organizations around the world, across dozen industries suggest that “Innovation can only be inspired and maximized when senior leaders commit to the creation of a self-reinforcing culture”. A truly innovative culture is a function of four components, which he terms X, Y, Z and Σ (Exhibit below), - which together shape organization’s culture and discipline of innovation and the dynamics of technology management at multiple levels of decision making, - including definition of corporate technology strategy, management of technology portfolio and guidance/execution of specific technology initiatives.
XYZΣ Model Overview
Companies across industries are indeed faced with an historic opportunity to renew their approaches to access frontier technologies, while uncovering new technologies. Who will win in the future, will be determined by how companies embrace new innovation and technology management processes, and cultivate cultural attributes that will celebrate (i) cross flows of ideas and IP ( X) (ii) real-time structuring and restructuring of projects (Y) for ensuring R &D/project portfolio are dynamic, (iii) zig zag and resilient development(Z) of specific projects within strategic boundaries to reach specific targets while not loosing serendipitous opportunities in adjacent areas (iv) continue harmonization(Σ) of XY and Z to create the intellectual and creative ferment all across to continually nurture an innovation ecosystem.
Partha S Ghosh works in partnership with client teams to design, develop and deploy formal and informal processes – a few loose and few tight, to instill XYZ and Σ to cultivate sustainable, self-reinforcing and self-enriching innovation culture.