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Innovation and creativity are business bingo words for sure. Even though they conjure up visions of blowhard empty suit executives clamouring on and on, they are still critical. At the end of the day, organisations grow by entering new markets, adding new products, reacting to changes impacting your current product set or adding new customers. All of these business actions are empowered and amplified by innovation and creativity. With one big consideration, new products can be driven by internal capabilities development and that’s where business analysts and project managers come in to play. More and more companies are developing internal systems capabilities as a competitive advantage in which they can use as a platform to drive new products and solutions. Ultimately a product portfolio is like a well. The deeper you have to go to find interested customers the more expensive it gets and the more work you have to put into getting the business. So if you can find new products or quickly locate new customers within the context of current capabilities you can continue to get the “richness” of margin without digging a completely new well. PMs and BAs are now at the forefront of developing additional capabilities to logically connect new services and products to existing systems.
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This is a recorded session of a live webinar event. Watch the webinar above.