Issue 175 - 02 | Reinventing Reinvention: Choosing the Continuous ‘Wise Pivot’ Over One-Time TransformationBy Omar Abbosh, Paul Nunes, and Larry Downes
Published April 17, 2019 12:00 p.m.
The alternative, however, isn’t just to rush headlong to the new, leaving behind and untended your still-valuable businesses that new technology could revitalize. It turns out that the best response to constant and potentially devastating change is continuous rebalancing of an energized innovation portfolio, applied with as much creativity to older parts of your business as it is to the new.
Our real-world approach to innovation will no doubt feel counter-intuitive to managers trained in old business paradigms focused on linear, lifecycle models of business management. With the future arriving faster all the time, however, the farseeing leaders in our on-going study of over 1,300 companies have learned to pursue repeated renewal and reinvention through a series of strategic pivots, applying innovation equally in the old, the now, and the new.
We call this self-renewing process ‘The Wise Pivot.’”
About Omar Abbosh, Paul Nunes, and Larry Downes |
Omar Abbosh is group chief executive of Accenture’s Communications, Media & Technology operating group and is a member of Accenture’s Global Management Committee. He previously served as Accenture’s chief strategy officer and prior to that served as the global client lead for leading multinational companies.
Paul Nunes is the global managing director for thought leadership at Accenture Research and leads the company’s principal business research programs that shape its strategic vision. He is co-author of three previous books, including Big Bang Disruption: Strategy in the Age of Devastating Innovation (2014).
Larry Downes is a senior fellow with Accenture Research. He is the co-author of Big Bang Disruption and author of the New York Times business bestseller Unleashing the Killer App: Digital Strategies for Market Dominance (1998).