In a wide variety of industries, companies are experiencing transformational changes. These changes are driven by global competition, technological changes, government regulations and the dynamics of an unstable economy. As a result companies’ expectations concerning their suppliers are changing – what they buy, how they buy, and what they are willing to pay for it are all in a state of flux.
Viewed from the other side of the fence, it means vendors are unlikely to prosper if they view improvement simply as doing a better job doing what they are doing – innovation is required.
The subject of innovation dominates the technology sphere. Articles on “wearable technology” like Apple’s much-hyped iWatch are easy to find. Likewise in sales most of discussion related to innovation is about technology. Lots of interest and dialogue on empowering your sales force through technology or the ten new mobile apps for igniting sales.
However, if companies are going to take innovation seriously and do more than just manipulate the status quo, then new technologies are just part of the solution – not the entire story.