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Innovation is Not Just for Technology Companies Anymore

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We tend to think of “innovation” in terms of new technology – gadgets, hardware, new apps, and software. But true innovation more often comes in the form of new business models, workflows, service offerings, and office and staffing patterns. This session will center on those innovations that are significantly impacting our firms and our clients. You never know where innovation might sprout!

This session was produced for the DCPA15 Conference in Las Vegas.

Publicado en: Empresariales

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Innovation is Not Just for Technology Companies Anymore

  1. Innovation Is Not Just for Technology Companies Anymore! Tom Hood, CPA, CITP, CGMA @tomhood CEO Maryland Association of CPAs Business Learning Institute
  2. If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today Tom Hood, CPA, CITP, CGMA   CPA Practice Adviser Accounting Hall of Fame   Named the Second Most Influential in Accounting by Accounting Today Magazine 2015 (11th year in Top 100)   Top 150 Influencer by Linked-In   Top 25 Influencers in Learning & HR by HR Examiner   Top 25 Public Accounting Thought Leaders by CPA Practice Adviser   Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations CEO Maryland Association of CPAs (MACPA) Business Learning Institute (BLI)
  3. 3  
  4. The # 1 Challenge
  5. Will disruption come from inside your industry?
  6. The Warning Signs •  I don’t buy my own company’s products or services •  We are investing at the same levels or even more and not getting margins or growth in return •  Customers are finding cheaper or simpler solutions to be “good enough” •  Competition is emerging from places we didn’t expect •  Customers are no longer excited with what we have to offer •  We are not considered a top place to work by the people we would like to hire •  Some of our very best people are leaving •  The growth trajectory has slowed or reversed
  7. “How would you think differently about your strategy if you knew your advantage might not last?”
  8. What?
  9. Source: CPA.COM Insight into the CPA of the Future Study 2014 92% of CPAs are NOT Future Ready Future Ready is the capacity to be aware, predictive, and adaptive of emerging challenges, tech innovations, and trends and changes in business, population, and social environment.
  10. Gradual then Sudden ExponentialTimes!
  11. More Uber cars than yellow taxis on the road in NYC
  12. Will your job be done by a machine? Source: NPR Planet Money, May, 2015
  13. In the next five years we will TRANSFORM How we market, sell , communicate, collaborate, innovate, and educate – Dan Burrus
  14. So What?
  15. •  Agricultural Age Land Ownership •  Industrial Age Means of Production •  Information Age Information •  Creative Age INNOVATION Source:The Nomura Research Institute Shift in the Source of Competitive Advantage
  16. 74% Next gen leaders do not believe their organizations are encouraging practices that foster innovation Source: Deloitte Millennial Survey
  17. “Innovation at the institutional level is needed to sufficiently shift an organization’s mindset to allow new ideas to truly emerge and thrive. While our current business leaders can debate how and where to innovate, it’s clear how much importance our future leaders place on innovation—not just as a driver of business growth but also as a catalyst for solving society’s most pressing problems.” - Barry Salzberg, CEO of Deloitte
  18. Innovation is not Invention
  19. Innovation is not Creativity
  20. Connect the dots “They used to say knowledge is power, but now there’s google…” Illustration by David Somerville based on original by Hugh McLeod @gapingvoid
  21. Innovation is creating value in anticipation of future trends.
  22. WWGD What would Google Do?
  23. What about these guys? Colleagues Against Virtually Everything!
  24. Disruption and RONI