Innovation and Resilience in Organizational Performance are Paramount in today’s Uncertain World

The world is changing and thus the organizational rules are also getting accustomed to this rapid shift after the emergence of Covid 19. The pandemic has altered the global dynamics and now in the 21st century, organizations need to ditch the traditional rules of performance and success. As of now, innovation is the only key to sustaining business and becoming resilient to ongoing as well as unforeseen upcoming challenges.

The pandemic has severely affected organizational performances across the world including India. But visionary leadership and quick adaptation to innovation has changed the saga with the right use of technology and digitalization. As per the Microsoft IDC study 2020, 77% of Indian organizations have experienced that the culture of innovation was proved to be the most important aspect of their organizational performance and resilience during the challenging times of Covid 19 pandemic.

Organizations today are now concentrating their focus on technology, data, and people to realign processes that can bring innovation in case of any disruption and quickly adapt to new changes. They are now investing more in upskilling their people and fortification of data through technology to become more resilient.

The emerging trends in technology such as Artificial Intelligence, Machine Learning, etc have given the required support to cope, connect and innovate various organizations and also fuelled up the growth of startups. During the pandemic when the traditional rules of organizational performances fail to perform, innovation becomes the torch bearer.

The disruption across the sectors has made people learn, repair, and prepare new solutions to counter the situation that will lead to organizational performance even in challenging times. Today organizations need to offer multiple solutions including climate change, sustainability, energy crisis, changing geopolitics, etc. But resilience and economic recovery can only be achieved when the innovative imagination works towards finding inclusive solutions with care and sustainability.

The preparedness for the next global emergency including the expected recession in the post covid world, organizations need to strengthen their culture to support disruptive ideas and reward innovation. The organizational budget is to be diverted towards digital innovation and adopt knowledge-sharing practices to leverage the power of data to enhance resilience and improve their products and services to transform successful growth trajectories into reality.