Corporate executives are increasingly looking to disruptive technologies and business practices to promote a new generation of growth within their companies, according to a recent survey from GE.
The company's Global Innovation Barometer has found that a considerable majority of executives who were surveyed have a positive response when it comes to internal processes. In fact, two-thirds (64 per cent) of executives now believe that innovation in their company is going to depend on shaking up their internal processes and pursuing new business models.
As a result, companies are now looking to make themselves "disruption ready" so they can handle different challenges as they arise.
One method for changing internal processes is to move corporate strategy into a digital medium using technology like StrategyBlocks. This business management strategy can help to interrupt internal processes which might otherwise remain calcified, while also introducing a new level of awareness into company operations.
StrategyBlocks also offers a way to get corporate direction down from the executive's office and into the hand's of people who realise this strategy. By taking this step, it is possible for companies to develop a much more responsive and flexible corporate model.
While disrupting internal processes is an essential part of ensuring that companies remain ahead of their competition, the survey also pointed to a number of other developments which can affect their operations.
Common areas which companies pointed to involve the development of collaborative processes with other firms to unlock greater engagement between different firms.
Executives also pointed to the value that innovation has brought, with 80 per cent suggesting that these developments have improved the quality of life in their countries.
While the survey was on a global scale, Australian companies ranked highly across the different aspects of the survey. Australia reached the 11th spot across the 27 countries surveyed, suggesting that it already has a strong innovation base, while leaving room for further improvement.