The Power of Tying Innovation Directly to Your Organization’s Strategy

The Power of Tying Innovation Directly to Your Organization’s Strategy

According to research done by the Conference Board, two of the top three internal hot button issues for CEOs globally are: Emerging technology that is driving new business models Creating a culture of innovation that energizes and enhances a company’s performance and keeps them relevant during periods of intensifying competition We shared in a prior article our 4 tips on how to create and...

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How the Most Successful Companies Can Foster Innovation Amongst Employees

How the Most Successful Companies Can Foster Innovation Amongst Employees

A spark. Planting a seed. A lightbulb moment. What exactly is innovation? Many companies claim to be innovating, but few think about how each employee can impact the creation of new products and service offerings. However, for some forward-thinking companies, what was once considered a function of the R&D department is now becoming intricately embedded into the entire organization.…

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Accepting the Leadership Challenge: Vadim Orlov on a Career in Innovation

Accepting the Leadership Challenge: Vadim Orlov on a Career in Innovation

Here at West Monroe, we encourage our employees to stretch beyond their current role, take ownership for their own career growth, and embrace the spirit of ‘intrapreneurship’ to better the firm. In this series, we speak to those who have stepped up to #acceptthechallenge and become a better leader. To kick things off, we interviewed Vadim Orlov, a member of West Monroe’s Technology practice...

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Eliminating Bias in Innovation: Supporting Good Ideas from Unexpected Places

Eliminating Bias in Innovation: Supporting Good Ideas from Unexpected Places

West Monroe invests heavily in innovation—just this year we welcomed Tyson Hartman, senior director of innovation and partnerships; announced a new Innovation Fellow career promotion for senior technologists; and launched the West Monroe Idea Hub, where employees can crowdsource and vote on new ideas for further development. Central to our approach is making innovation transparent and open to...

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Innovation Series: 4 Important Lessons that will Help You Run a Practical Innovation Function

Innovation Series: 4 Important Lessons that will Help You Run a Practical Innovation Function

In part 1, we discussed how emerging technology can take several decades to become mainstream and deliver on its commercial promise—highlighting touch screens, voice recognition, and machine learning as examples. Now we want to dive into turning innovations into realities. In our experience in building a corporate innovation function over the last five years, we have learned four important...

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Innovation Series: Learning What We Mean by ‘Practical Innovation’

Innovation Series: Learning What We Mean by ‘Practical Innovation’

Understandably, most CEOs want their organizations to proactively innovate instead of finding that innovation has shown up at their doorstep. Forced adaptation is rarely pleasant. But when you look at examples of corporate innovation in the market today, only a select few are successful. How is it that some companies can stay on top of changing technology and market trends and others...

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How Microsoft is Modernizing the Digital Workplace – Insights from the Ignite 2018 Conference

How Microsoft is Modernizing the Digital Workplace – Insights from the Ignite 2018 Conference

I recently attended the Microsoft Ignite conference where I spent my time attending sessions around Office 365, SharePoint, Teams, and OneDrive for Business. There was no shortage of announcements around the advancements Microsoft is making in the modern digital workplace with Office 365. We are seeing significant improvements across collaboration, process automation, intranet and all-employee...

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Innovation: Build it, borrow it, or buy it. Just don’t forget it.

Innovation: Build it, borrow it, or buy it. Just don’t forget it.

Disruptive innovation is top of mind for business leaders these days, and with good reason. Disruption is finding its way into every business sector. And in this environment of fast-evolving technology, it can happen quickly, leaving an organization’s primary revenue stream ripe for the taking. (Remember what Netflix did to Blockbuster?) Some organizations are aiming to be the change...

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National Energy Policy: What Might We Expect with a Changing Administration?

National Energy Policy: What Might We Expect with a Changing Administration?

With a change in administration in Washington, and a Republican in the White House, and the same party controlling Congress, one might expect drastic changes in federal energy policy. However, let’s look at the facts. States are leading the energy debate, by pursuing their own aggressive strategies to promote clean and distributed energy resource use and encouraging policies to support a...

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In the “Buy vs. Build” world of Pharma, Does Lab Productivity Still Matter?

In the “Buy vs. Build” world of Pharma, Does Lab Productivity Still Matter?

The cost of developing new drugs averages about $500,000 a day over 12 to 14 years (~$2.5B average cost per new drug). This high development spend has not translated into a meaningful number of additional new medical entities approved by the FDA (about ~35 per year). High development costs and thin pipelines have led many companies to shift towards a strategy of acquiring new drugs by...

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Driving Innovation through Technology

Driving Innovation through Technology

The first topic we’ll cover in our Deep Tech Blend series is all about innovation. If you are a CEO, COO, CIO or CTO of any technology-enabled organization, or influence the decisions made by those titles, this will resonate with you. Speed is critical in the digital economy and business disrupters are ever present.…

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Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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