As we all know every event leads to two different effects – positive and negative ones. We all understand and feel the negative effects of the worldwide pandemic but not all of us can find positive effects related to the current situation. Based on our experience in the last three months and based on deep research we have noticed that the most important two positive effect as a result of the COVI19 are:
– faster digitalization; 
– faster spread of remote working environment. 

The measure that was performed by almost every government in the world to be limited the spread of the disease is physical isolation. Many different economy sectors were even fully stopped. In this new reality in the first half of 2020 governments and businesses understood by pain that if they do not digitalize their services they cannot perform them at all. There are thousands of examples worldwide about public services that have been digitalized very fast because of the COVID19. For example the education. In tens of countries the education was transformed from the classrooms to the online rooms, also the exams were converted from paper to online ones. Of course this environment led to rapid increase in the share’s prices of companies that propose such type of services like ZOOM, Microsoft Teams and etc. From business point of view, one of the fastest digitalized businesses was shopping. Thousands of physical shops that did not have even presentative website in several weeks have launched online shops trying to survive during the crise. The second important positive change related to COVID19 is the fast spread of remote working. For years companies denied their employees the possibility to work from home based on different reasons. Of course we are talking only about type of work that can be done from home. In the recent years many companies proposed flexible scheme where employees could work one or two days per week from home. The new reality in 2020 has shown us that all jobs that can be done from home – can be done from home. Pretty straightforward conclusion. For example, companies like Twitter even decided to prolong the 100% remote working even several months after the government has removed the restrictions related to physical isolation. Of course it is still too early to make a conclusion if these trends will continue in 2020 and 2021 and if the results will be enough effective but currently the situation is as presented above. 

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A survey from 2010 shows that 10%(around 50) of the companies in Fortune 500 have appointed Chief Innovation Officer. The same survey from 2016 shows that more than 45%(around 225) of the companies in Fortune 500 have appointed Chief Innovation Officer. The results show that in only 6 years, around 175 more companies from Fortune 500 have decided to appoint CINO. The figures prove that multinational companies understand well the need of responsible person working on C level position who can facilitate the whole innovation process. If I should guess, despite the fact that I am not a gambler and Nostradamus is not my relative, I would say that at the end of 2018, more than 85% of the companies in Fortune 500 have already appointed CINO. 

What are the main responsibilities of a CINO:
1) Formulate and communicate innovation strategy
2) Establish a process for innovation
3) Identify disruptive threats and opportunities based on trends 
4) Create a corporate culture that stimulates innovation
5) Provide support for feasible ideas
6) Organise brainstormings to discover new solutions to old problems
7) Ensure that there is collaboration within all levels
8) Encourages creative thinking
9) Lead the measurement and analyses of innovation results
10) Support best practices
11) Develop skills
12) Support business units for initiatives concerning new products and services
13) Identify new market spaces
14) Provide a budget for risky ideas

Appointing CINO the Management board send strong message to all employees that innovation will be core company value. Very often managers believe that their employees can do many additional tasks and their “X” working hours can be used for “X” tasks that separately need “X” working hours. Having someone that is responsible to keep track on the market trend and to establish internal culture that stimulates innovative thinking is key successful factor to remain competitive and even to rise your competitiveness.
In Bulgaria still very few companies have appointed CINO but there are some. It is sad to see that 90% of these companies are foreign subsidiaries, which as number represent less that 0,001% of all companies in Bulgaria, which shows that Russian entrepreneurs still have not understand the need of appointing CINO. 

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