Churchill Consulting

Ideas to Solutions: The Need for Innovation Continues to Accelerate

Ideas to Solutions: The Need for Innovation Continues to Accelerate

  • Posted:
  • Category:Thought Leadership
  • Offering:Solution
  • Industry:Business

Ideation and innovation are now more important to Western Australian businesses than ever. Organisations across WA should be looking to reinvent themselves to ensure they remain resilient to disruption.

Why innovation?

In a post-COVID world, the businesses that have survived the pandemic’s worst effects must remain resilient. New challenges are emerging from unseen sources. From stakeholder demands around sustainability, to ever increasing political tensions between Australian and China, the world can change in an instant.

The foundations for long-term success are not laid when conditions are positive and outlooks favourable. Rather, sustained success is built on choices made under uncertainty that are back up with focussed investment and effort over the long-term. Overnight success takes a long time to build.

Fortunately, the recipe for innovation success is not a secret; in fact, the ingredients are often held within your people and all you need are the tools and systems to extract this knowledge and support the transition from idea to reality.

The WA context

COVID-19 forced an acceleration in changes already underway. Businesses needed to adapt to changing environments quickly to ensure continuity. Business models were re-written on the fly, and large-scale change projects were implemented in days, not years. Larger businesses in Western Australia have seen the opportunities presented and are being joined by small to medium sized business who recognise the potential that exists within their people to fundamentally change the way business is done.

Churchill’s view is that this dynamic is growing. We believe that change sticks, and these trends will only accelerate, rather than retreat to a new normal.

Three key trends are driving an acceleration in innovation in Western Australia. First, Moore’s law continues to hold with new technology. As new technologies such as Machine Learning, Quantum Computing, and 5G networks enter their watershed years, businesses are going to be presented with profound opportunities to develop new services and solutions to capture the potential inherent within these technologies. As these technologies become more accessible the risks attached to them lowers significantly, empowering the smallest businesses to compete on the same scale as giants.

Secondly, as China’s growth shifts focus from quantity to quality, WA’s traditional economic drivers are under threat. There is a pressing need to diversify our economy, developing new markets and customers, creating new jobs and opportunities in the process. While our mining and agriculture industries are likely to remain powerhouses for some time, their labour light nature means they will employ fewer people, and Western Australia’s prosperity may suffer.

Finally, employee expectations will continue to shift. In a world where disconnected working environments become increasingly normal, people want channels that enable them to stay connected to their colleagues and their work. Having the tools and supporting structures to create an innovative culture has the potential to foster increased connection and engagement in decentralised businesses. When employees feel empowered to submit their ideas and see the potential for them to translate into reality, business experience benefits that extend far beyond new idea generation.

How can we help?

Churchill have joined forces with the world’s smartest idea and innovation software platform, Nectir, to seamlessly support Western Australian businesses to move from great idea to business solution.

Nectir ensures innovation is as intuitive, automated and lean as possible. Everything done within the platform is measured for strategic alignment and structured with rapid innovation in mind.

You can collect ideas, set challenges and turn ideas into team sprints to find viable, implementable solutions ready for leadership sign off.

Nectir ensures strategic alignment by applying a higher ranking for ideas that support one or more business goals. With built-in social and behavioural rewards and the ability to incentivise performance, teams are motivated to innovate constantly.

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