External Sources of Changes
new opportunities for
innovation can be both within
the enterprise or industry and outside them. A three-level
business intelligence system is thus to be established to collect and
analyze information from within the enterprise; industry and market
structure; and external sources, such as demographics, changes in
perception, and new knowledge.
Innovators who want to exploit new
knowledge need to apply a careful analysis of the knowledge available and
the knowledge needed.
Keep your early
warning system on to
spot trends first.
Whatever you see, hear or
read, consciously remember to ask yourself: Will that eventually
constitute a driver of change?
Develop your company into a
learning organization that is
continuously expanding its capacity to create its future by continuously
learning new ways of doing things and also continuously forgetting old ways
of doing things. It will help you to adapt to and survive in the changing
business environment and to fulfill you potential.
External Drivers of Change
drivers – changes
in the market make-up such as
attitudinal moves in demand, income alterations, or demographic
shifts that change definitions of value and convenience
incremental or radical innovation that occur in either the
primary or enabler industries
changes brought on by institutional
investors and the resultant alterations in standards of performance
– new challenges by
competitors and new entrants
– legislative changes and
policy initiatives that can impact business