{"id":1254,"date":"2022-10-07T19:33:26","date_gmt":"2022-10-07T19:33:26","guid":{"rendered":"https:\/\/semaztech.sltm.ca\/the-importance-of-innovation-to-survive-in-a-hyper-competitive-environment\/"},"modified":"2022-12-01T15:27:08","modified_gmt":"2022-12-01T15:27:08","slug":"the-importance-of-innovation-to-survive-in-a-hyper-competitive-environment","status":"publish","type":"post","link":"https:\/\/semaztech.com\/en\/the-importance-of-innovation-to-survive-in-a-hyper-competitive-environment\/","title":{"rendered":"The importance of innovation to survive in a hyper-competitive environment"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1254\" class=\"elementor elementor-1254 elementor-674\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-095122d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"095122d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-007da90\" data-id=\"007da90\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-10b6023 elementor-widget elementor-widget-heading\" data-id=\"10b6023\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">The importance of innovation to survive in a hyper-competitive environment <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-477920a elementor-widget elementor-widget-text-editor\" data-id=\"477920a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Innovative companies, the majority of which are startups, consider innovation at the heart of their strategic planning. <em><strong>What about traditional and mature companies?<\/strong><\/em> As it happens, the planners of these companies have traditionally not placed much emphasis on innovation and have considered that good management is based on optimizing processes that quickly maximize the return on investment. Thus, when faced with a competitive advantage, the traditional strategy proposes to focus on performance parameters such as revenue growth, profit margin and compliance with certain accounting ratios. Of course, these parameters are valid and will always remain so and the majority of entrepreneurs adhere to this method of measuring the success of a business. The problem is that we forget that this performance model is intended for very mature companies that meet the following three assumptions (i) these companies operate in stable markets with clearly defined boundaries, (ii) the competitors are known and located in that same territory, and (iii) the talents remain loyal forever. However, the context of the economy has been constantly changing over the last few decades and is increasingly challenging the foundations of this traditional model. Indeed, in today&#8217;s reality, we must take into consideration the globalization of markets, the digital revolution and the emergence of capitalism in some countries such as China, India, Russia and Brazil.<\/p>\n<p>The consequence, you ask? The movement of talent is made easy by social networks, the market space becomes crowded with rivals arriving from all over and the competitive advantage, once well identified over a long period of operation, is undermined. Welcome to the world of hyper-competitiveness described by Ian MacMillan, &#8220;<em>Seizing Competitive Initiative, Journal of Business Strategy, 1982, 2 (4): 110-16<\/em>&#8220;. MacMillan proposed in 1988 in his article &#8221; <em>Controlling Competitive Dynamics by Taking Strategic Initiative; Academy of Management Executive, 2 (2):111-18<\/em>&#8220;, a model that explains in a very simple way the life cycle of any offer. The figure below illustrates the temporal aspect of an offer, the x-axis represents time and the y-axis represents some kind of competitive advantage which can be sales for example.<\/p>\n<p>The graph shows 4 distinct zones: launch, ramp-up, operation and decline. La divergence entre la strat\u00e9gie de l&#8217;innovation et la strat\u00e9gie traditionnelle r\u00e9side dans la gestion de la p\u00e9riode d&#8217;exploitation. Traditionalists seize this period to optimize all resources in order to maximize the bottom line of the financial statements and innovation becomes a mere sporadic activity, if not non-existent. The innovation strategy, on the other hand, is based on a structure that favours the maintenance of qualified resources and a corporate culture focused on the systematic renewal of the offer. I invite you to read my article entitled <a href=\"https:\/\/www.semaztech.com\/les-trois-piliers-requis-a-toute-entreprise-innovante\/\">The 3 pillars required for any innovative company,<\/a> the objective being to ensure a sustainable exploitation period. Thus, the innovative firm anticipates the launch of a new cycle described by MacMillan no later than the grace period Tg so that the intensity of the operating period of the new cycle (dotted line) is greater than or equal to the previous period.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-edddb97 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"edddb97\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-daa3a4e\" data-id=\"daa3a4e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ab6d1cc elementor-widget elementor-widget-image\" data-id=\"ab6d1cc\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" src=\"https:\/\/semaztech.com\/wp-content\/uploads\/2022\/10\/Cycle-de-vie-dune-offre-1-1.jpeg\" class=\"attachment-large size-large wp-image-1126\" alt=\"\" srcset=\"https:\/\/semaztech.com\/wp-content\/uploads\/2022\/10\/Cycle-de-vie-dune-offre-1-1.jpeg 960w, https:\/\/semaztech.com\/wp-content\/uploads\/2022\/10\/Cycle-de-vie-dune-offre-1-1-300x225.jpeg 300w, https:\/\/semaztech.com\/wp-content\/uploads\/2022\/10\/Cycle-de-vie-dune-offre-1-1-768x576.jpeg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-37132ef elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"37132ef\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cc8bd13\" data-id=\"cc8bd13\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a96d8ca elementor-widget elementor-widget-heading\" data-id=\"a96d8ca\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The importance of innovation to survive in a hyper-competitive environment <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c368d34 elementor-widget elementor-widget-text-editor\" data-id=\"c368d34\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In order to avoid a period of decline, modern companies <strong>MUST<\/strong> master<a href=\"https:\/\/www.semaztech.com\/fr\/defis-dune-gestion-equilibree-du-portfolio-dinnovation\/\"> the management of a portfolio of innovations.<\/a> <\/p>\n<p> To conclude this article, I can&#8217;t help but come back to the case of Sears Canada, as its bankruptcy is making headlines here. Imagine for a moment if the company had taken the turn to online sales a decade ago and I&#8217;ll let you guess the answer! Recall that Sears was a champion of catalogue sales, all that needed to be done was the digitization of the paper content. The question I ask myself then is <em><strong>w<\/strong><\/em><em><strong>hy &#8220;traditional&#8221; businesses like Sears don&#8217;t consider<\/strong><strong>innovation systematically<\/strong> <strong>in their strategic planning? <\/strong><\/em>Une des explications vient probablement de la formation acad\u00e9mique des strat\u00e8ges traditionnels d&#8217;entreprises issus des \u00e9coles de gestion. I will &#8220;take the risk&#8221; to develop this point in depth in the next article. I will try to explain who benefits from graduates with an MBA type of education and why this type of education is not yet adapted to solve the problems of innovation management. A promising topic. <\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The importance of innovation to survive in a hyper-competitive environment Innovative companies, the majority of which are startups, consider innovation at the heart of their strategic planning. What about traditional and mature companies? As it happens, the planners of these companies have traditionally not placed much emphasis on innovation and have considered that good management [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee"],"_links":{"self":[{"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/posts\/1254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/comments?post=1254"}],"version-history":[{"count":1,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/posts\/1254\/revisions"}],"predecessor-version":[{"id":1255,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/posts\/1254\/revisions\/1255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/media\/1136"}],"wp:attachment":[{"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/media?parent=1254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/categories?post=1254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/semaztech.com\/en\/wp-json\/wp\/v2\/tags?post=1254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}