Corporate transformation

CEO’s today work in a very different environment to that of the CEO of yesterday.  Today’s business platform is dynamic and rapidly changing.  In this short video CEO Ben Verwaayen sums up the Philosophy behind BDCMI's Diversity on demand module. Innovation is necessary and comes from a business that has unlocked its diversity dividend.  

Today the top challenge in business is innovation. To innovate requires behavioral change both within the organisation and within the individual. So then how do you create behavioral change, because to do so is a massive undertaking.

You need to work with others rather than work on your own. To do this you need to overcome peoples psychological need to keep a project close to them, to protect it and not let anyone see what they are doing. To deal with change is to deal with human nature. People can be defensive; input by others is seen as stepping on ones toes. Of course there is also intellectual property considerations and legal considerations to be taken into account.

Open innovation is something that needs to be driven by leaders.

Talent is needed to address innovations challenges. Talent to innovate requires a variety of skills. When the new fails the organization needs to regroup and become better. This is a management process which requires another kind of talent in letting go and then collaborating in order to adopt better methods. The process of supporting this transition so the new can succeed is yet another kind of talent.

This spirit of collaboration that is involved in open innovation is enhanced by diversity.

Ben Verwaayen lists not only gender diversity but also culture diversity, age diversity, experience diversity in fact  “whatever diversity you can think of” as a must for any organization. A rigid “this is the way we do things” approach is not suited for the future because of the changing and complex environment we all live in. Debate within the organization about what impacts what do do this properly you need people with diverse experiences.

Corporations need to create an environment where jobs and growth occur. In fact anything that can contribute to growth is a very powerful part of the conversation. It is important to create and nurture an entrepreneurial spirit where investment risk and opportunity can create growth with socially beneficial outcomes.