In the past, water as a resource worried only a few industries. This has rapidly changed due to the scarcity of water around the world, especially in the emerging markets. Companies now need a clear view on the role water plays in their value creation and what they can do about it.
All companies are hunting for the “next big thing” – a major growth opportunity and platform to safeguard future revenues and profits. But simply analyzing megatrends is like a ritual rain dance: much hoopla with a most uncertain outcome.
Companies around the world are expanding their local R&D footprint in emerging markets in order to strengthen their market position, gain access to local resources and reduce costs. But this creates a need to orchestrate cooperation between these dispersed R&D centers.
As a practice, crowd innovation has been around for more than 200 years. But only in the digital age has it become the hot topic it is now. And it cannot be implemented with a “one size fits all” approach, but needs significant planning.
Creating and commercializing new ideas using inputs from multiple partners has been used for many years as the foundation for an “innovation ecosystem”. However, collaborating businesses often don’t realize the benefits they expect.
Innovation in regulated service industries with a legacy of state ownership, such as public transport, remains a major challenge in many countries. What are the pre-requisites for innovation and what can policymakers and companies do individually to overcome the barriers?