Presentation on Innovation Unleashed: Low-Risk, High-Reward Strategies For IT Leaders

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INNOVATION UNLEASHED LOW RISK, HIGH REWARD
STRATEGIES FOR IT LEADERS
End-to-End enterprise IT solutions delivered with
precision and quality. Transform today to stay
ahead tomorrow.
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INTRODUCTION
When we think of innovation for IT digital
transformation, we usually envision pioneering
technological solutions or revolutionary concepts
that can transform various aspects of our lives.
However, such monumental leaps in innovation are
more prevalent in theory than in reality.
Dealing with complex and time-consuming
third-party integrations, interoperability
challenges, and scalability issues makes managing
multiple software platforms and integrations
difficult. This scenario can become more
challenging if the present IT service partner
offers limited customization and integration
capabilities for smooth workflows.
While embracing disruptive technologies and
radical strategies can bring immense value to
your organization, they also carry substantial
risks and uncertainties. Forward-thinking leaders
often consider pursuing breakthrough innovations
head-on as challenging and costly, with a fair
share of risks. Thus, many industries, including
IT, have witnessed a steep fall in risk tolerance
organizations find stability in the familiar
and endorse what works. This decreased risk
tolerance stems from multiple factors, including

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Sustained innovation for IT digital
transformation Finding the balance between the
risk-return conundrum

• The risk-return paradox heavily influences how IT
  leaders perceive the risk levels in innovation.
  Generally, IT leaders consider innovation
  initiatives and their supporting funding as
  investments based on the expectation that
  higher risks should yield higher rewards.
• On one end of the spectrum, we have investments
  focusing on incremental innovations or building
  upon proven concepts low-risk, low-return
  endeavors. On the other extreme are skunk
  works, i.e., innovation projects aiming to
  revolutionize technology and business models,
  creating new product/service categories.
• The risk-return paradox heavily influences how IT
  leaders perceive the risk levels in innovation.
  Generally, IT leaders consider innovation
  initiatives and their supporting funding as
  investments based on the expectation that
  higher risks should yield higher rewards.
• On one end of the spectrum, we have investments
  focusing on incremental innovations or building
  upon proven concepts low-risk, low-return
  endeavors. On the other extreme are skunk
  works, i.e., innovation projects aiming to
  revolutionize technology and business models,
  creating new product/service categories.

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Understanding the two innovation approaches
Moonshot and Lily Pad Strategies






Creating a significant impact through an
enabling innovation strategy starts with
breakthroughs this could be technical
inventions, discoveries, or radical ideas
representing a step change, even if their initial
impact is little.
Financial success is closely tied to the impact
of an innovation, and this connection is
strengthened when more users adopt the new idea.
Broader engagement with the innovation can speed
up user adoption.
Contrarily, lily pad innovation implementation,
IT leaders can take a strategic approach to
develop capabilities in spaces ready for
adoption. Instead of risking bulk resources on a
single use case, IT leaders choose the
low-hanging fruits (i.e., low-risk initiatives).
They integrate the existing solutions in parts
or as a whole to the needs of end-users in
spaces ready to embrace them.
More information about the topic visit
https//neevsystems.com/risk-strategies-it-leaders
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Thank You