The Next Big Thing
Posts about next generation technologies and their effect on business.

Scarcity, abundance and innovation

 

empty.pngRecently, someone pointed out a video from McKinsey that is talking about how Technological advances can not only improve resource productivity dramatically but also spark the next industrial revolution. I had to laugh a bit since this concept is something that we’ve talked about since the very first blog post (almost 10 years ago) and for our strategy work years before. The abundance of IT can drive innovation in almost any industry.

 

Understanding the interaction between scarcity and abundance is an important part of any enterprise strategy effort. If an innovation can’t be understood from its effects, it probably can’t be used for that particular organization. Just being new, interesting or exciting isn’t enough. Adoption can’t be assumed but needs to be built in the mind of those who should adopt (and adapt).

 

In some situations like the service space that has been traditionally built on access to people and process, the ability to remove people through automation can shake the foundation of how an organization approaches the market. The same could be said about the concept of middle management. Once you shift your view to the default perspective of “Prove that we need them” rather than “We’ve always done it that way”, real chance can happen.

 

I am on my way home from a couple of weeks on the road. Hopefully, I’ll have some time to sit back and think about some of the things that I’ve seen recently and follow my own advice.

 

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