A Holistic View on Innovation in our World
Our articles in recent weeks have dealt in great detail with the current situation of innovation (in Europe). In the article innovation vs. invention we have explained the separation of the two terms. We have identified both the Importance of inventions and the Importance of innovations. We found that the more rapidly markets change, the sooner once innovative products can lose their unique selling proposition. Permanent innovation is therefore a corporate obligation. In our article on the innovation lifecycle, we explained how you can understand innovations from the beginning. We clarified in it that, in principle, the beginning is the idea, and the end is the market maturity of the innovation. However, not every innovation goes this way. Most attempts fail somewhere in this life cycle. These findings we have tried to process in a holistic view. We have established that the last few decades of our society in the Western world have been massively characterized und impacted by the VUCA world. Despite possible criticism of this theory and a possible extension with BANI (Brittle, Anxious, Non-linear, and Incomprehensible) of VUCA, the problems presented are drastic. In our article on innovation in China, we revealed the decline of European innovation in global comparison. And in our article on the Lack of innovative technology in Europe, we finally discussed the risk of losing wealth associated with this. Whereas there is a general understanding that advanced technologies and software exist and are legitimate products. Everyone has heard of terms such as artificial intelligence (AI) and has at least some idea of what is meant by it. But one thing is often still unclear to many, including some CEOs: What are digital business models and why do they work so well? For this reason, we have provided a fundamentally better understanding in our Digital Business Models article and expanded it extensively with our Digital (Business) Transformation Strategy. With this broad-based knowledge, we believe we have created a holistic view on innovation in our time. In the coming articles, we intend to enrich this thematically in the direction of transition to innovation.