No Experimentation – Innovation for sure in the Automotive Industry
“The automotive revenue pool will significantly increase and diversify toward on-demand mobility services and data-driven services. This could create up to $1.5 trillion—or 30 percent more—in additional revenue potential in 2030.” — McKinsey
We at IdeaBridge understand the major structural changes and business alliances taking place in the automotive industry today. As companies in the realm grow and form partnerships with others, only a few would be able to survive independently – this would happen only through being unique, special competence, and laser focus on innovation.
To help companies gain and maintain a leadership position in this highly competitive market, and survive long term, it is necessary for them to reinvent and reorganize themselves – and do it now. Through innovation, are companies able to forge ahead of competitors, serve customers better, and would be able to overcome cost pressures. This cannot be done in the traditional manner and through ‘test projects’. The days of experimenting with small scale changes and mobility apps are over – it is the age of reinvention and constant innovation. Companies need strategies focused on redefining the very core of their business now and in the future – a strategy that would be ‘built to last and survive’.
Enter IdeaBridge : IdeadBridge is committed to the culture of innovation, and consistently help clients to understand the importance of creating effective, workable processes that result in continuous, ongoing improvement. We aim at transforming the mindset and once this happens, it becomes second nature for the company and its people. The process of innovation and ideation is central and we help companies build vision and commitment, changing conventional concepts and methods, and to move towards to transforming through innovation.
Our client lode is from varying industries – for example TAFE, benefited through our Enterprise Innovation Management Platform called ICUBE. ICUBE became a unified platform to manage ideas received from the workforce of the company. Employees now had the satisfaction of seeing their ideas transforming to projects, and also receive rewards for their ideas. The platform offers a gamified experience, which increased the feeling of value and the levels of performance. The entire workforce is geared towards creativity, improvement and systematic innovation.
Another example of our innovative brilliance is the changed affected at NBC. Given that a large number of the taskforce are workmen, and not as literate, the solution provided by IdeaBridge was highly innovative and unique, keeping in mind all the administrative and technical requirements of the client. Even the workmen could submit their ideas without having to log in to a computer or write or even type out their viewpoints. A kiosk was put up where the workforce could log in using a biometric system, and submit ideas by speaking and having them recorded. Given the solution from IdeaBridge, NBC noted a surge in participation and workforce morale. Since all had equal opportunity to present their views, a sense of belonging and self-esteem was very apparent. With the system having a multi-lingual provision, the acceptability and buy-in of the system was extremely high.
Conclusion: Open innovation today is critical to helping automotive companies advance in a nonpareil manner. It helps these companies think about the bigger picture, such as establishing partnerships with industries outside of their own in order to gain from technology that is not available in-house. We are one such value-added partner who can develop long-term strategies, bring cutting edge technology, and help you understand customer preferences, enabling a better focus on your innovation efforts. Connect with IdeaBridge to transform your automotive business today.