Hard to believe, but out of all the Fortune 500 companies in 1955 nearly 90% are now out of business. This statistic proves the theory that companies must “innovate or die”. Unless a company can innovate and provide added value to their customers, they are less likely to survive – especially in today’s constantly changing business environment.
Innovation: a process by which a a new product or service is developed or an existing one is renewed and modernized by applying new processes, introducing new techniques, or establishing successful ideas to create new value. The creation of value is a defining characteristic of innovation.
Why do we need innovation?
One of the most fundamental objectives of business is innovation. If people and technology don’t progress, they will quickly become irrelevant and outdated. If companies are strategic, innovation results in added value to their organizations as well their customers.
McKinsey research showed 84% of professionals feel that continued innovation is critical to future success. Even though innovation is a broad notion, almost every organization places a high value on it.
Innovation is is essential to add value and resolve business challenges.
Innovation helps WIN deliver products that help customers streamline operations, optimize costs, increase productivity, etc. It promotes creativity and helps identify opportunities to serve your customers in new ways.
How is WIN driving innovation?
WIN is driving innovation in today’s market place by developing and delivering unified infrastructure services across the WAN, LAN, data centers and cloud environments. What makes WIN truly unique, is that it is a managed services provider that owns and operates a large-scale fiber network throughout the Midwest. This means that WIN has the ability to effectively tear down the demarcation point (DMARC) and provide seamless transport, construction, visibility, monitoring and management of our client’s entire technology infrastructure.
The development of across-functional “Innovation Team” and the inclusion of innovation in our planning process are two ways WIN is building a culture of innovation. What is the purpose of these teams? One of the innovation team’s key goals is to reduce and time-to-market for new products or services. This allows WIN to adapt more quickly to market disruptions and deliver technology infrastructure solutions that will better serve our clients.
The Innovation Team drives a companywide effort to continuously generate market-driven products and services that solve tangible customer problems. The team also provides leadership and guidance to the organization on how to leverage strategy, generate ideas, develop market research, set priorities, project manage, and help the organization achieve its goals and add value.
The innovation team researches emerging market trends and technological advancements
our clients can leverage for competitive advantage. By monitoring our industry and analyzing customer needs, the innovation process can recommend strategic directions and product improvements for both ITS and Network Solutions.
So where do innovative ideas come from?
Innovation is a cultural norm at WIN. Often, our innovative ideas come from our customers or staff. Working with customers, our employees gain insights into business challenges that may be opportunities to grow and provide added value. The innovation team promotes cross functional collaboration, bringing together expertise from various WIN work groups. This approach advances problem solving and promotes knowledge sharing. As our teams work together, they leverage each other’s strengths and unique skill sets to tackle complex business challenges.
Ready to learn more?
If you have questions or want to learn more about driving innovation, talk to a WIN Specialist today!