We are all getting back to our business leaving behind the pandemic disruption. It will be business as usual, but an awareness has set in that things have changed. It will take some more time to get in tandem with the changed scenario but meanwhile the best we can do is look for tools and frameworks that could help us read the situation from different perspectives and choose how to move forward.
We are being persistently asked to be innovative, use technology, and be strategic but without a direction not all opportunities get leveraged. Then when can we improve products by adding features? When do we bring in new products and enter new product categories? What is better innovation?
And when do we use technology?
Innovation and the use of technology can create growth, reduce cost, and help disrupt. With all that, we need to be clear about our goals and expectations. Only then we, with our tools and frameworks, and with the help of our teams can achieve them. However, whenever we consider goals and outcomes for today and the future, timeframes and horizons automatically dawn on us. The point to ponder here is do we really possess the clarity on the framework and the process from the perspective of technology and markets so that we can make the best use of opportunities and convert them into business profits.
The concept of using horizons as a framework is an interesting tool that has been used and adapted to suit specific needs. The representation here is from the work of Christian Terwiesch and Karl Ulrich which I have adapted with technology and market as the X and Y axes respectively and, which could help us understand and make choices for product development.