In this episode of the Business Review, former GE Lead Innovator Beth Comstock explains how to use the power of imagination to plan for future growth and business expansion.
Change is always just around the corner, and knowing what to look for can help businesses better prepare for what the future holds. That’s according to Beth Comstock, former Chief Innovator at G.E.
I do think a new kind of change is emerging, just with the hyper-connectivity of our world — we’re more connected than ever.
I think you get yourself ready by starting to see patterns, you understand where things are connected, and you start to play out scenarios in your mind as a practice in your company, so that when some of these scenarios start to potentially play out I believe you can be more ready for it. It’s about those leaps of faith, those leaps of creativity, the ability to wallow in ambiguity, and imagine different kinds of outcomes — I don’t know how you can’t allow for that in business and stay competitive.
By looking for trends and cutting-edge innovation in other industries, those with imagination can see what the future holds for their own businesses, she says.
You can start to see these things in a very powerful way. I believe that everyone needs to make room for discovery in their daily lives and their jobs. Go explore what’s next. Have conversations. Ask people, customers, read industry reports, start to understand what’s happening and what’s next. See around those corners. Marketing starts in the beginning. It’s where are the trends, what is happening in the market, and how do we translate that into what we’re doing and where we’re going? The better you can get people ready for the change, the more ready they’ll be for your product.
The Business Review is a production of KWBU, Livingston & McKay, and the Hankamer School of Business at Baylor University.