Internet technologies have been evolving drastically as a way of communication, socialising, and entertainment to cloud technologies and further business tool. Businesses and senior executives seek solutions from Internet technologies to solve old age operational and business problems. Web technologies have always come with tailored solution though least tested and fail to overlap the best suitable solutions. It's time to re-analyse the web technology’s capabilities and nurture the seed of innovation for the future technologies. Innovation has to be egalitarian providing revitalised solutions.
Managerial knowledge and understanding has been developed to assist senior executives and management to resourcefully utilise organisational capabilities. Management knowledge base has strongly supported innovation as critical part of business growth and sustainability. Businesses have developed ways to incorporate innovation in organisational culture to achieve competitive advantages and build brands that maintain customer loyalty. Management nowadays emphasise on long term multilevel interactions to solve fundamental problems which can be easily overcome through simple feedback, communication and transparency. Internet, intranet and web based products, software programmes brought in place to minimize gap between businesses and its stakeholders. Recent trends from the automobile industry and multinational firms’ management have started to enhance innovation in collaboration with stakeholders. Organisations have begun to listen to the voice of customers through complaints, feedbacks and suggestions through internet technologies. Collaborative innovation is the fundamental catalyst suggests the solutions and innovation can be adapted and utilised by many businesses to achieve broader goals of strengthening economies and stimulating better well-being.
Information and creativity are enormously available through web technologies. Vast data and ideas shows trend of evaporation and gets lost in translation. The main barrier in not utilising the full potential of internet technologies is leading to the failure of value capture by companies to harness readily available innovation. Organisational management shows prominence on innovation but lacks the developed technologies to capture ideas and thus lacks value creation through innovation.
Considering the under utilisation of capabilities of internet technology in a physical way, computing power and capacities are expanding exponentially same as the software and internet technologies. This Provides upgrades of better solutions with added features to the old computing technologies. Managements of all sectors (public or private) are failing to utilise the dramatic evolution of internet technology in innovation process. Businesses have recognised the innovation inside the organisation and outside the organisation, but substantially lack the methods and technology to capture those innovations efficiently and effectively.
Here, problem itself provides the possible solution for lack of value capture, understanding the potential of open innovation through the medium of internet technology and having collaborative adaption of innovation within the value chain for future growth and excellence.
Simple solutions like web based software or tailored intranet software capturing ideas and minutes of brainstorming to provide solutions and innovation is the first stage of development. This provides organisational culture and customer behavior change thus encouraging and motivating everyone in the value chain to participate in innovation. Collaboration is the key ingredient to minimising pressure on the R&D of the organisation and thus in-house innovators then can further develop the captured idea and provide well-tested solutions to the problem. Businesses have to develop and contain culture of transparency, minimising bureaucracy of excellency and provide long lasting trust to everyone. Furthermore, organisations should have to be considerate of universal citizens as today no constrain of geographical boundaries stops customers to provide innovations. Businesses have to become more responsible and have to value sustainability.
Strategies have to be in place to show a true and fair face of organisation. So, everyone in the value chain from suppliers to shareholders builds trust towards the organisations. These are the fundamental steps towards the open innovation using web based technology.
Social networking now has been explored for viral marketing and customer retention. Ad-hocs and competitions have provided significant problem solving to various industries. Social networking has to be harnessed to get quicker and true feedback.
Internet technology and computing are still growing and in its early stages. Nurturing and proper care has to be given to develop these technologies. Flaws and failures have to be improved and upgrading has to be ongoing to meet the global trends and demand. Social networking and internet technologies largely considered social use and entertainment. It has significantly failed to reach citizens as medium of game changer and revolution. Development of such technology requires proper skills of computer programming, understanding its efficient usage and the interpretation of problem by the developer and business in computing language. These inadequacies have to be solved first and foremost to develop well manageable, easy to use, internet solutions which harnesses innovation collaboratively.
Systems and softwares has been developed to achieve innovation but the next steps including open innovation, collaborative innovation, democratic innovation and self-evolving internet technologies are still in far reach. Proper nurture and development of the web based systems for innovation is the need of the era, to foresee robust future innovation process. Internet technologies which are lab tested and still in its development phase should provide scope of learning and innovating for self solving problems. Smarter technologies and artificial intelligence can be used to sort down vast amount of data and can present best suited options to the organisations saving lots and providing sustainable solutions. Future of innovation can be made simpler, efficient, greener and egalitarian through smarter well-groomed internet technologies.
Web based innovation enables open and collaborative approaches for the innovation process to take place. Everyone feels responsible and proud to be the part of solution. Organisational integrity, transparency and loyalty improve by involving citizens in the innovation process. Innovation becomes more readily available and suggestions flow through more frequently. Rewards can be considered and developed for contributions and every contributor can get their share of satisfaction.