Capco Institute Journal #52: New Working Paradigms

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INNOVATING FOR GROWTH IN AN ERA OF CHANGE

 

ALEX SION | Head of New Venture Incubation, Global Consumer Bank, Citi Ventures


In times of significant technological, societal, and behavioral change such as today’s, business leaders already grappling with digital transformation may find themselves facing growth challenges rooted not merely in competition but in a fundamental lack of fit between the solutions they offer and the needs of their customers. In this case, traditional innovation efforts may not suffice, and the need may arise to rethink core business models, make riskier investments, and measure success through new and different metrics. 


By creating two parallel innovation organizations within a business – one focused on ‘product change’, and the other on ‘product-market fit change’ – and testing new solutions in-market using a ‘jobs to be done’ framework, companies can prepare themselves to address both types of change simultaneously and win in a rapidly shifting market.