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Radical Innovation

A new economic context

On a strategic level, the contexts of economy, society and technology are experiencing ongoing evolution thanks to  some fundamental drivers:

  • the globalisation of markets and competition
  • increasing market expectations
  • environmental responsibility and limited resources available 
  • building on existing know-how
  • speeding up the pace of technological change
  • widening the access to technologies

An integrated response to the new context

Any business expecting to play a significant role over the next few decades needs integrated capabilities to respond to this new economic, social and technological context.

These capabilities will allow:

  • a targeted, prompt response – in terms of products and services – to an increasingly globalised market
  • a prompt response in terms of processes, throughout the life-cycle of each product and service
  • a prompt response regarding human resources
  • strategic technological responses

A strategic intervention

Businesses, therefore, need to commit to making strategic changes in terms of their human capital, products, processes, and the structure and organisation of enterprises themselves.

The following areas of intervention are particularly important:

  • the value chain, which ranges from production to the use of  know-how – the only sustainable resource which can assure a competitive edge;
  • the rapid realisation of products and processes, as the time factor  is decisive in an ever-changing context; being market leaders means being ackowledged as INNOVATORS;
  • the management of innovation: the new global enterprise needs to create and preserve an environment that promotes, encourages and rewards creativity and innovation;
    the management of change: the new global enterprise needs to incorporate a continuous process to which systematic methods are applied in order to optimise the company's position and obtain a competitive edge;
  • new-generation production processes and state-of-the-art machinery: the development and constant improvement of these processes will be a key factor in success, and in allowing the new global enterprise to be competitive;
  • modelling and simulation: this will guide all corporate decisions in the new global enterprise, and will form the basis for "Virtual Production", a new way of carrying out support activities;
  • reactive, flexible information systems: all computers, software, data and communications links supporting the engineering, production and logistics processes - within the limits of the company's culture and organisation - play a fundamental role as they enable a rapid restructuring of production systems; thus, customers' needs can be promptly met;
  • cross-company collaboration: this solution is essential, if businesses are to access and build on the skills they need. Partnerships need to be open to change, which means ongoing adaptation to reflect evolutions in competition on a technological and economic level;
  • business integration: commercial activities and manufacturing systems need further integration and interconnection in order to allow human resources and corporate systems to obain accurate, timely information; this will enable new, global enterprise to operate in a coordinated, but independent, way.