The Business Careers Handbook 2020
SPECIALISATIONS
Innovation and digital
For graduates seeking a career in innovation, there are no hard and fast rules. The desire for innovation is pervasive and can be found in anything from larger corporates to professional services firms.
What is innovation and digital? Organisations face increasing pressure to stay on the right side of the cutting edge. With no time to rest on their laurels and competitors constantly seeking to take a slice of their pie, organisations are always looking to create new ways of doing things, whether it’s a new product, service or radically improved process.
specialist innovation consultancy, for example, 2nd Road (part of Accenture Strategy) or perhaps even a start-up.
Whatever it may be, organisations are spending more money on fostering innovative cultures, from empowering their people to tinker with ideas (think Google) to developing in-house innovation labs.
During this time, you may be exposed to a range of roles such as user experience (UX), product management, digital sales, customer-centred design or digital content. Alternatively, as a consultant, you may be expected to take a higher-level strategic view of the organisation and recommend avenues for innovation.
That’s why innovation has become the new darling of the corporate (and non-corporate) world – and why we are increasingly seeing the rise of customer-centric cultures, plus technology to foster this innovation. For graduates seeking a career in innovation, there are no hard and fast rules. The desire for innovation is pervasive and can be found in anything from larger corporates to professional services firms. If you work for a larger corporation, for example Commonwealth Bank, you will have the opportunity to embed yourself within a digital team and learn what it might be like to work in an innovation lab. Consultancies such as McKinsey and Deloitte also offer their own digital services. Alternatively, you may choose to work for a
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What is the graduate experience in innovation and digital? Your experience as a graduate will depend on where you land. Larger corporations and consultancies are more likely to offer structured graduate programs and rotations.
What is common across these roles however, is the ability to operate in an environment of immense uncertainty – and potential scrutiny. The very nature of innovation is that the outcomes are unknown, which is why there is such a focus on customers and designing for their specific needs. As a graduate, you may be expected to assist in interviewing customers, collating feedback, researching the market, doing a competitive review or financial modelling to test the commercial viability of an idea. Being able to develop an informed view off the back of analysis and articulate this will help your team take ideas to the next level. Being prepared for failure – but doing what you can to pre-empt
it – is critical. While at times working in innovation may be heartbreaking, seeing an idea take off and become a success is hugely satisfying. What are your career prospects in innovation and digital? The world of innovation is, well, constantly innovating. Jobs that weren’t around only a decade ago have become the new norm – from user experience designers to product managers, these types of roles are ever evolving. The best way to progress in this field is through experience, whether that’s as an entrepreneur launching your own start-up, or an intrepreneur working within an organisation to incubate ideas. The skills learnt in innovation are easily transferable and depending on what area you are interested in, you may eventually seek roles in marketing, sales or operations, or even launch your own start-up! Choose this if you have: ■ The tenacity and passion to push ahead with radical ideas ■ An ability to operate in an ambiguous and uncertain environment ■ A love of new things and learning how to make things work. Interested in this specialisation? Jump to
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Community sector
46
Freelance and startups
50
Government sector
52
In-house and corporate
64
Professional services
86
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