In the age of digital renaissance, innovation is no longer a buzzword but a necessity. Everything around us is getting smarter by the day. Our cars, phones, homes, schools and cities – all moving towards a ‘smarter’ avatar. Obviously, much of this digitization has percolated to the enterprise data environments as companies seek efficiency and flexibility from available resources. But tough economic climes have made the business ecosystem more competitive and cut-throat. Inordinate operational costs, uncertain markets and record deficits have forced businesses to a new direction – a faster, leaner and more intelligent enterprise to succeed in the unpredictable landscape.
Raising Your Organization’s IQ
“Intelligent Enterprise” is a management approach that applies technology and new service paradigms to the challenge of improving business performance. The concept was introduced in James Brian Quinn’s influential book Intelligent Enterprise – it stipulates that intellect is the core resource in producing and delivering services. Businesses need to create and leverage a competitive edge that is sustainable to succeed in the long run. While the conventional wisdom of lower costs, intellectual property, and strategic leadership still holds true for a successful enterprise, they need something extra. Survival of the fittest in the knowledge economy will depend on the ability to make superior judgments and choices.
Intelligent businesses are molded by two separate forces.
Based on these forces, there are a few strategic capabilities that can help your company gain a cumulative advantage in business. These ideas help organizations to be “future ready” – prepared for whatever tomorrow may bring. Let’s take a look at these capabilities:
The cognitive-science revolution is both an opportunity and a challenge for businesses. For most companies, the struggle will be in choosing which human versus machine approaches to apply and how to get the best of both worlds. Once an organization learns to adopt hybrid approaches for making subjective probability estimates and keeps improving them, it can be truly intelligent and develop a sustainable strategic edge over the competition.