Over the last several posts, I’ve taken a look at the latest Corporate “next big thing” – creativity and innovation. Today, I’ll take a look at five impacts on corporate innovation from the continuing globalization of business.
There are numerous impacts on companies – and Cubicle Warriors – from globalization. Just because innovation is the “next big thing” in corporations doesn’t mean that the global economy has no impact on this culture change.
Here are my five impacts:
Globalization forces faster innovation. Companies are using global resources for getting things to market faster, not just to save money on operations. As a result, good companies know how their global resources can offer them speed to market on innovations. The classic example is one where the product is enabled through technology and the technology is developed 24-hours a day using outsourced programmers around the globe. Programming and testing 24-hours a day saves a lot of time to market compared to 8-hours a day.