Why new approaches to innovation are needed to foster growth

5 minute read 28 Oct 2019
EY Global
By EY Global

Ernst & Young Global Ltd.

5 minute read 28 Oct 2019
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As businesses get larger, agility tends to get lost on the way. But, does it have to be that way?

For both big and small businesses, growth is often the ultimate goal. However, navigating unprecedented growth can be daunting at times. Some businesses are concerned about losing their organizational culture, while others risk losing their agility. At Innovation Realized 2019, thought leaders, such as Emilie Sydney-Smith, Managing Director, Art & Commerce LLC, spoke about why innovation should be a collective mindset. Without a cultural shift in the organization, innovating at scale is harder to sustain.

To accelerate innovation, it is key to reach out to various market players or ecosystem players who are working toward the same goals. According to Scott McGurl, EY Global Consulting, these ecosystem players could be technology partners, service providers, or data analysts. Collaborating with such market players can help businesses to innovate on a global scale, quickly. So, in this Transformative Age, will you compete or collaborate?

Summary

Innovating at scale demands more than innovation itself. From a shift in the organizational mindset to collaborating with other market players, Innovation Realized 2019 sheds light on the tactics essential for growth in the Transformative Age.

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EY Global
By EY Global

Ernst & Young Global Ltd.

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