For large firms, the accelerating pace of digitalisation in modern business bears both opportunity and risk: On the one hand, it can be a source for significant growth. On the other hand, even small start-ups can quickly disrupt established core markets for big players. This makes innovation power a crucial factor for business success – and forces big companies to re-evaluate the way they organise innovation. Konica Minolta’s innovation approach is one of the best practices referenced in Capgemini Consulting and MIT Digital’s new research on “The Foundations of Corporate Innovation in the Digital Age”.
Innovation is a core virtue for Konica Minolta, from well before the digital era: for more than 140 years of its existence, the company has never stopped pushing the boundaries of technology for its customers.
Capgemini Consulting and MIT Digital’s report identifies three factors for a successful organisation of innovation in large corporations: the right innovation architecture, the right innovation sources and the alignment of the right capabilities. Konica Minolta’s innovation architecture spans the globe with its five Business Innovation Centres (BICs) on different continents. Their mission is to gain a deeper understanding of customers’ needs and deliver the greatest value by anticipating them, serving as core engines of growth for the company.
With regard to innovation sources, Konica Minolta believes that collaboration is a key driver for success. Therefore, it pursues an “open innovation” process, working together with clients, partners, independent research facilities and universities, to develop new offerings in the areas of The Workplace of the Future, Augmented Vision, Wearable Devices and Innovation as a Service. The BICs are the catalysts for change and success to deliver Konica Minolta’s future offerings. Finally, innovation is deeply anchored in the company’s culture of constant transformation, encouraging teams to take on its challenges:
The full report is available here: