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Business Agility & Continual Innovation Fueled by Social Media & Co-creation

In the ever increasing competitive landscapes, blurring markets and consumer demands, business agility is the business’ capability to adapt rapidly and cost-efficient to that landscape and its target audiences. This is where social media and co-creation fuel business agility through continual innovation. By using social media as a doorway and opening up the business, the entities that actually force/create the changes in demands are being let in to swiftly act and react with them and their intel. This applies to any supply chain, for any discipline.

As spend in digital peer-to-peer environments rise, rapid and consequential changes in digital and social marketing for organisations to take control – to get serious and efficient.  The organisation as a whole (infrastructure, workflows, stakeholders, data streams and so on) needs to be reconfigured and enhanced so that the least amount of money is being wasted on social media usage and that the highest possible return is being enabled. As soon as as the groundwork has been laid, it’s time to bring in the continual innovation process.

Continual innovation “may be the most powerful of any competitive advantage for a business. It creates game-changing breakthroughs. Along parallel lines, bit by bit, it also tweaks improvements in existing products, chips away at costs and debugs processes — in every corner of the company, all non-stop. In a turbulent business environment like today’s, it’s essential for helping a business move from playing defense to playing an aggressive, and winning, offense.” Take this and overlay it with social media and co-creation, real-time consumer insights that can be extracted, moulded and poured back into the right supply chain. Co-creation comes in a later stage after having conducted the research and know in what phase(s) of the innovation process you want to co-create.

At this point, the usage of social media and co-creation for business agility and -marketing- innovation purposes is on the rise and not yet diffused, but in the not-so-far future it will be a conventional integrated process.  Adapting to that coming state is the first act for businesses.