A2X Consulting

Innovation

We’ve talked about it here many times before. In this hyper-competitive, globalized world of ours, it’s often the key ingredient in an organization’s success – or the missing ingredient leading to another organization’s downfall.

Does innovation have to always come from within? Or, like so many other resources today, can it be found offshore? A  study by mega-consultant firm, Booz Allen Hamilton, and India’s National Association of Software and Service Companies (NASSCOM), says the global trend is clearly indicating changing sentiment on the once ‘sacred’ idea that innovation must always come from within.

A lengthy, but highly informative, Strategy+Business article entitled ‘Innovators Without Borders’ can be found discussing this study here – take some time and decide for yourself.

As for me, I’m not entirely sold yet on the idea that a majority of companies will, in the coming decades, view innovation as something as easily outsourced as, say, their payroll function. But I do think, in the right industries and under the right circumstances, the idea of looking outside an organization’s four walls for crucial innovative products, services and practices will no doubt become more commonplace as the years go by. It just seems like part of the natural ‘evolutionary process’ taking place in this globalized era we are all living through.

Because, I think, more and more, the phrase ‘Innovate or Die’ will be the mantra on the lips of business leaders around the world.

And that means innovation will be chased down however, and wherever, it can be found.

By Eric Cohen