While reading Management Today (Aug 2009) I came accross an interesting article entitled: Business cocooning curbs innovation Streamlining business models to survive the GFC is curbing potential innovation, says Lee Ward, General Manager of Unisys global outsourcing and infrastructure services. Many businesses are trapped in a dangerous state of mind, Ward calls 'cocooning'. Business cocooning describes when a business focuses only on cutting operational costs rather than looking at ways to improve business processes through innovation; putting them at risk of not being able to respond efficiently to changes in market conditions. Ward believes outsourcing offers a key way of innovating for a business. "The longer the relationship, the better your suppliers know and understand the intricacies of your business and increase innovation," Ward says. Source: Management Today (Aug 2009), Australian Institute of Management
Subscribe To
Posts
Comments
About Me
- Craig
- Craig Rispin is a business futurist, trends tracker and technology guru. From age 10 he began teaching business people about the trends and technology that would change their businesses...and lives...forever! With an innate ability to spot trends and to create new markets, Craig went on to design and launch hundreds of products for major companies in the computer, consumer electronics, multimedia, internet and broadcast industries.