A642.7.3.RB – Leading through Disruptive Times
Driving innovation is becoming to be paramount that it gives organizations stronger position from competitors, it generates consumers’ favor or appetite apropos to the organizations’ offering, and innovation magnifies organizations’ capacity to impact the global
market. Although innovation is geared towards increasing efficiency and reducing the cost for the customers, we also have to keep in mind that innovation is a result of the creativity of the human minds. Incentivising employees for their creative work in not enough to boost advancement in technology and employee morale, retention, and development. Open communication that is built on trust and acknowledging the employee’s creativity and contribution is of utmost importance to continually promote and encourage innovative and creative thinking within the organization.
According to Canfield & Smith (2011), for organizational leaders to compete, they must innovate and to innovate they must be open to change, doing new things and stopping processes and procedures that are no longer helping the company to be competitive. In short, deciding to innovate and improve are now business imperatives. Disruption is inevitable and forecasting the particular progress of interruption in any industry; leaders will still be caught by surprise and leaders will always look at the advent of new competitors with utter disdain (Christensen, Wang, & van Bever (2013).
Disruption and innovation often correspond as both creators and accelerators. But can distinctively be differentiated as disruptors can be derived as innovators. Innovators, on the other hand, cannot and will not always be assumed as disruptors. Disruption extracts and modifies the way we behave, learn, operates our business and think on a daily basis. For an innovation to be disruptive, it must displace a subsisting low-end market or industry producing something new and turning non-customers into profitable customers.
For health care professionals, disruptive innovation is not quite acceptable due to what the challenges it poses. Through innovations, healthcare practices, service delivery models, and the patterns of patient referrals may be disrupted. The traditional reasoning regarding the organization’s structure and operations, investments in technology, equipment, and human resources may be affected by disruptive innovations or simply by changes. Disruptive innovations on a personal degree may also spark negative reactions to physicians, registered nurses, and other non-clinical and clinical staff due to perceptions of being undermined on their reputations, status, power, or even ego.
Occurrences of innovation and disruptive innovation need to be navigated in the same manner regardless of what occurs first, last or both may be happening at the same time. As a leader in the healthcare industry, it is of utmost importance that I presume or deduces the best way to react or respond strategically to a disruption or change. Supporting local or company-wide organized efforts by analyzing and blocking disruptive innovations that are unsafe or untested is one of the ways to navigate through the disrupters. Another strategic way in navigating through innovation and disrupters is by recognizing or determining plausible disruptions. This can be accomplished by empowering our leaders and team members to pioneer change and primed to react efficiently and expeditiously when innovation thrives. Lastly, as a leader, I could influence our organizational leadership team and team members to study and maybe follow other healthcare industry leaders’ strategy of obtaining a notoriety as an innovator through pioneering, diagnosing, and advertising disruptive innovations as a business junctures.
A powerful way to encourage a culture of innovation is to focus or aim our direction to usefulness, today and in the future. Insight to Innovation pathway will be effective and efficient if organizations make their determination to new ideas based on potential value. Innovation needs a rebellious innovator as its refuge for creativity that is practicable. But the challenge for organizations is how to influence or create a climate or culture of practical creativity. Organizational leaders will need for their workforce to care or conform to the overall success of the organization as a whole (McKeown, 2014).
According to Chakravorti (2004), executive leaders must change the manner they introduce new ideas to the marketplace. They can develop new methodologies or strategies by utilizing new game theory when playing in today's world of networked. Understanding and learning the behavior of social, physical, and commercial networks, new strategies on how to be creative can be developed. Markets by nature are resistant to new products and ideas, but when organizations work back from an endgame, they will have the ability to change the markets from an adversary to an ally position.
In our organization, diversification, and growth are driving how we manage finances and our workforce directing a higher level of flexibility and scalability. The required regulatory changes are forcing our Executive Leadership in restructuring cost management, engaging employees in decision-making to fully leverage talents, and data changing resulting in adopting new technologies that reinforce imperatives in cost and P&L governance gearing to a value-added reporting and analysis. Although new technology-based product development is one of the most explanatory variables for a beneficial organization performance (Suzuki, 2014), we can also say that exploitative and exploratory innovation significantly influence organizational performance (Suzuki, 2014). According to Suzuki (2014), exploitation relates to increased efficiency, organizational improvements and incremental adjustments while exploration equates to new possibilities, radical or revolutionary change, and diversified generation.
References
Canfield, J., and Smith, G. (2011). Imagine: Ideation skills for improvement and innovation
today. Holland, MI: Black Lake Press.
Carmeli, A., Gelbard, R., & Gefen, D. (2010). The Importance of Innovation Leadership in
Cultivating Strategic Fit and Enhancing firm performance. The Leadership Quarterly, Volume 21, Issue 3, Pages 339-349. Retrieved from http://www.sciencedirect.com/science/article/pii/S1048984310000494
Chakravorti, B. (2004). The New Rules for Bringing Innovations to Market. Harvard Business
Christensen, C. (2012, March 30). Disruptive innovation explained. Retrieved from https://www.youtube.com/watch?v=qDrMAzCHFUU
Christensen, C., Wang, D. & van Bever, D. (2013). Consulting on the cusp of disruption.
Harvard Business Review. Retrieved from https://hbr.org/2013/10/consulting-on-the-cusp-of-disruption
McKeown, M. (2014). The innovation book: How to manage ideas and execution for outstanding
results. Harlow, England: Pearson
Suzuki, O. (2015). Unpacking performance benefits of innovation ambidexterity: Evidence from
the pharmaceutical industry. Management Revue. Retrieved from http://dx.doi.org.ezproxy.libproxy.db.erau.edu/10.1688/mrev-2015-04-Suzuki
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