{"id":10570,"date":"2019-06-20T08:30:00","date_gmt":"2019-06-20T13:30:00","guid":{"rendered":"https:\/\/blog.planview.com\/?p=10570"},"modified":"2019-08-15T10:22:02","modified_gmt":"2019-08-15T15:22:02","slug":"universal-market-disruptions-drive-innovation-at-hyper-speed","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/universal-market-disruptions-drive-innovation-at-hyper-speed\/","title":{"rendered":"Universal Market Disruptions Drive Innovation at Hyper-Speed"},"content":{"rendered":"

\"universal-market-disruptions-drive-innovation-at-hyper-speed\"<\/p>\n

Recently, Apple announced it was ending its iconic iTunes app, President Trump surprised the market with new tariff threats against Mexico, and the U.S. government increased scrutiny over Google, Apple, and Facebook over possible antitrust violations. All of these market disruptions are poised to hurt some companies while presenting opportunities for others. What effect could they have on you? And are you prepared to drive innovation fast enough to reduce their impact or take advantage of them?<\/p>\n

Market forces of this magnitude, including product and technology convergences and fundamental shifts in the workforce, are driving the need for innovation at hyper-speed. Companies are being forced to transform their business models, products, and employee cultures to keep up, which means accelerating and scaling innovation.<\/p>\n

To stay ahead of the competition and succeed in the new digital era, organizations must connect strategy to delivery, which is much harder to do than ever before. It means fueling employee engagement, creating a culture of innovation, and leveraging automation to support the innovation pipeline.<\/p>\n

According to Gartner, 40% of companies are experiencing business model changes driven by digital transformation. More than a third of companies that participated in a recent Planview study reported changes in their organizational structures, and updates to processes to complement their business models to grow revenue, enhance their customer experience, and improve their products and services.<\/p>\n

Much of this change comes by way of digital transformation as companies invest more in technology to drive changes in the digital era. In our recent study, we found that 73% of companies are increasing their investments in technology. So, it\u2019s a real issue to invest in technology that matters, but it\u2019s an even bigger issue to make sure you\u2019re picking the right technology.<\/p>\n

The other big part is the way digital transformation is changing the way people work. There\u2019s no one right way to do this whether it\u2019s an iterative, Agile, Lean, or unstructured approach of bringing teams together. Your preference may vary on the makeup of your workforce, especially when you consider that four generations are now actively working together to drive innovation.<\/p>\n

If all of this change and disruption is making your head spin, you\u2019re not alone. Based on a Forrester report, 77% of organizations are currently battling change. But there is a path forward in three steps that we shared in a recent webinar: \u201cInnovation @ Hyper-Speed<\/a>,\u201d which we\u2019ll cover in greater detail. They include:<\/p>\n