Technology and Health & Life Sciences
Internal Audit and Cybersecurity Report Published
Announced on August 17th , the Institute of Internal Auditors has released its report, Internal Audit’s Role in Cyber Preparedness: The Importance of a Holistic Approach (Report). Created by The Institute of Internal Auditors Research Foundation, the Report offers cybersecurity guidance by helping organizations anticipate, endure and recover from potential cyber-attacks. Essential to organizations’ efforts is for board members and audit committees to be aware of available resources when creating cybersecurity strategies and policies. In particular, the Report lists protection, detection, business continuity, crisis management and communications, and continuous improvement as five main areas for cyber preparation. Also discussed in the Report is the role an internal audit function plays in cybersecurity. The Report notes that. Read More.
What a Great Idea! Innovative Ideas Generated by the Public
Companies source innovative ideas from many different relationships and connections; however, sometimes it is the general public that can foster new ideas and help grow a business. This can be a cumbersome approach if not properly developed and organized, but can open up the innovation mix to the most unique ideas resulting in powerful innovations. In part five of the Forbes magazine series on types of innovation models, public innovation is highlighted as the last innovation option, mainly due to the complexity that comes with the scale and quantity of that type of source. According to the latest installment, “With public innovation. Read More.
NC Tech Awards Nominations Due Friday, August 14th
Reminder! Nominations are currently being accepted for the North Carolina Technology Association’s (“NCTA”) 20th annual NC Tech Awards. Featuring Cherry Bekaert as this year’s Title Sponsor, North Carolina’s largest awards program recognizes excellence in leadership and innovation within the technology industry. Known as “The Beacons,” the awards are separated into three categories: Technology Corporate Awards Use of Technology Individual Applicants can nominate an organization or individual that has made significant contributions to the tech sector, as well as their own company for consideration in one or multiple categories. NCTA membership is not required for nomination and non-tech companies are free. Read More.
When Competitors Become Sources of Innovation
As the saying goes, “If you can’t beat them, join them.” Well, this could be very true when it comes to innovation. In today’s business environment, competitor alliances seem to be in vogue and are a way for companies to lessen their risk and reduce costs. In part four of the Forbes magazine series on types of innovation models, competitor innovation is considered “coopetition” and should be considered a component in the innovation process. Several examples are mentioned to highlight the value these strategic alliances have brought to fierce competitors such as Ford and General Motors, and Boeing and Lockheed Martin. Without. Read More.
Collaborate to Innovate
Creating strong relationships with partners and suppliers is an important part of what makes a company successful in its innovation efforts. The key to keeping those strong relationships is when information flows freely, trust is established and loyalty remains intact. Part three of the Forbes magazine series on types of innovation models, partner/supplier innovation , is thought of as a necessity to be successful in today’s environment. Not only is it just a partnership, but the sharing of data information is key to the success. The article highlights partnership examples such as Walmart sharing inventory data and store level sales with P&G. Read More.
Making the Customer Part of the Innovation Process
The customer is crucial to the success of any business and should be considered an important resource when it comes to innovation. In part two of the Forbes magazine series on types of innovation models, customer innovation is considered a vital part of the process. Setting up processes to receive customer ideas, comments and feedback and having a platform with those who interact with your brand on a daily basis is the first step. The article mentions Starbucks and FedEx as two examples of companies that have implemented many ideas that came directly from customers. Without this interaction, these companies may have. Read More.