Darwin & the Demon- Failure to Innovate

In the article “Darwin & the Demon,” it is said that “failure to innovate equals failure to differentiate equals failure to garner the profits and revenues needed to attract capital investment.” The Internet is about constant innovation. So how can existing companies best deconstruct old processes and organizations to take advantage of opportunities presented by the Internet?

So let’s first understand the statement here that is presented to decompose the different factors. To start with innovation, the literal meaning of the term is to bring change or renew an existing thing. Today, the focused need is to change the way we're doing things and find a better way. Every investor or venture capitalist in today is looking at how the company is adapting to the new terms of work and technology. That is all about innovating and bringing something new to challenge the silos. The better a company is at innovating, the better the chances of creating a differentiating factor than that of its competitors and eventually being able to take market share. Existing companies can only better themselves by knowing what they are good at. Now comes the business architecture practice. Understand the companies core capabilities to see where you stand and what makes you “YOU”. Once you've identified that, start exploiting the internet to explore what others in the same segment are doing. Gather data, use analytics and statistics to substantiate this gut feeling. Post or try to carry out a survey on something like, "What should you stop doing?", "Continue Doing?" and "Start Doing?". This will give you some perspectives on what your company needs. Create a capability assessment to understand what is the best process or product that is unique about you, try and strengthen it, and focus on the 80/20 principle. The internet is a great source of information, so the more you exploit it the better.

Click the link below for a copy of the full article:

http://apps.business.ualberta.ca/mlounsbury/techcom/readings/darwin%20and%20demon.pdf