To reinvent yourself, you must destroy part of yourself. The only way you can do this is by embracing change and creating a culture where innovation can be nurtured and acted on. Ismail Amla, the Executive Vice-President of Professional Services of NCR on how this 130 year old company retained its staying power and harnessed the ability to stay relevant.
NCR started with a cash register but has expanded far beyond that in the years since. So how is Ismail helping to bring NCR’s 130-year legacy into the modern world and helping NCR’s consumers along the way? How has the company continued to stay at the cutting edge all these years? Find out on Business X factors.
Main takeaways:
- Big But Still Bold: Large organizations or companies are often painted as dinosaurs and the overriding narrative is that only scrappy startups are nimble enough to harness innovation for growth. This is rejected by Ismail Amla and Vivek Wadwha in their book, From Incremental to Exponential: How Large Companies Can See the Future and Rethink Innovation. They argue that big companies have boatloads of customer data, decades of brand equity, robust distributional channels, and enormous financial assets that make it possible to remake their businesses. But doing so requires courage and fortitude.
- Sponsor Change: Executives at the top need to be the ones who embrace and create an environment that yields innovation and change. Make it normal practice that different departments interact with each other, even if only informally. The more you can get people to come together, the more that you will find ideas can flow naturally, and executives have to lead the charge in making that happen.
- The Need for Speed: In the past two years, decision-making, productivity, and the scale and scope of innovation has accelerated, and according to McKinsey, there is no turning back. Technology and people interacting in new ways is at the heart of the new operating model for businesses and as a result, post-pandemic organization should be reinvented for speed. This can be done by rethinking ways of working, flattening the structure, unleashing nimble teams, providing options, and targeting top talent.
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