Organisational Competences: Innovation, Adaptability, and Resilience

An organisation’s dynamic capabilities will drive innovation, which in turn will improve revenue or productivity, which in turn will contribute to the achievement of competitive progression. The well-established motivations are that innovation in productivity will reduce costs whilst innovative products will be unique and increase revenues. The innovating enterprise with its differentiated and proprietary position has a higher chance of success than a follower. The benefits of innovation include cost-efficiency, productivity, quality of service (both production and delivery), inventory management, process improvement, and price. To convert innovation into tangible assets or resources though will require the complementary skill of being able to adapt strategy, stewardship, policy, structure, and process. It will also be dependent upon the organisation being able to withstand the buffeting that it will inevitably encounter as it makes the transition to any new system, process, or structure. This is referred to as resilience. Innovation, adaptability, and resilience are symbiotic and the elements that comprise each will be discussed in detail in this chapter.