Current global outlook indicates major changes are underway covering multiple industries and sectors. There have been both simultaneous and independent shifts constantly occurring over the last two (2) decades due to global monetary policy, fiscal and financial framework, macroeconomics, structured finance and microeconomics. As a result, there has been dynamic transition in considerable wealth creation / transfer, purchasing power and consumer demographics.
As part of any new and emerging wealth creation, Value Innovation can potentially be a positive path going forward. The main drivers that can help enable and advance “game-changer” Value Innovation can be categorized or classified into specific groups covering; Creative Inspiration, Design, Invention and Supply & Demand Chain. In addition, a key catalyst can be advances in “S-T-E-A-M-I-E” (Science – Technology – Engineering – Art – Math - Innovation - Entrepreneurship).
New and multiple “Business – Revenue” models will emerge globally which may be further impacted and undergo continual transformation in order to keep pace with changing market conditions, customer segmentation, demographics and purchasing power of consumers. Impacted areas can include, but not limited to, corporate governance, investment, and business strategy as well as functional operations along the entire Value Innovation chain.
In the next few years, it is important for various stakeholders in Government – Academia – Corporate – Industry, in a joint results-oriented collaborative and cooperative effort, to better understand and appreciate the dynamics which will take a definitive foothold on Value Innovation.