The corporate business times as we knew it until now are over. Traditional company (“Brick & Mortar”) that does not transform organizationally and digitally, a company that will end up being irrelevant. According to the consultancy Virtus Partners, the digital transformation rate developed by companies in Chile is at an initial level of digitization, with 48% (taking 100% how ‘very digitized’). These figures provide ample scope for improvement in the future.
In this sense, open innovation plays a key role when we talk about how big business begins to address their challenges. Organizations are often too focused on their processes, billing, their operational KPIs.
That is, in their Horizon 1, but they leave aside those new initiatives (strategic and business) that may increase their ROI in the future. That is, in your Horizons 2 and 3. How can we improve these points without neglecting our base operation? Open innovation, corporate entrepreneurship and Corporate Venture Capital (CVC) are attractive alternatives to adapt to the changing market.
Within these structural changes that digitalization entails, there are organizations that can assist the corporate world in this transformation of the business model effectively and agilely. For example, business accelerators can be a good ally in the process of digitizing and exploring Horizons 2 and 3 (medium and long term). The above for the purpose of the company can dedicate themselves to optimally exploiting its “core business” today (Horizon 1).
The value that a business accelerator can deliver to a corporate company is the connection with a portfolio of innovative ventures from different industries; support in the process of integrating entrepreneurship with the current business model; and the training of intra-entrepreneurs within their units.
The generation of pilots that serve to solve the pains of the organization are an excellent option to test quickly, agile and economical new improvements, new processes, or even, restructure areas and complete companies. If a business accelerator makes its portfolio of projects and its strategic-tactical “know-how” available to the market, it is quite likely that the ecosystem will end up benefiting from the contributions that they can generate.
We are entering a high-speed era in the way markets are changing, where technology and innovation bring development, mobility, and new ways of understanding business models and their articulation with the end customer.
The content poured into this opinion column is the sole responsibility of its author, and does not necessarily reflect the editorial line or position of El Mostrador.
