Saturday, February 11, 2017

The Monthly “Unpuzzling Innovation” Book Tuning Feb. 2017

Digital is the age of innovation. And innovation is what leads to differentiation. There are many ways to differentiate and, therefore, there are many ways to pursue innovation. Talking of innovation is not new nowadays, everybody, every organization now is talking about innovation. It's been at or near the top of the business or economics agenda for a long time. However, there’re a lot of confusions about innovation and there is no magic sauce to guarantee its success. Back to basic, what is innovation, the more you look into this topic, the more difficult to give a definition of innovation, as it is such a broad topic? One of the good definitions of innovation is: "to transform the novel ideas into commercial success. In essence, innovation is, "intentional novelty bringing sustainable benefit."


       

  “Unpuzzling Innovation” Monthly Book Tuning

Who Should be Put in the Right Position for Accelerating Innovation: We all know innovation is important because it is the lifeblood of any business. But compare the upcoming digital era to the previous industrial era, innovation is becoming more intensive with broader content or enriched context; there are both radical innovation and incremental innovation; hard innovation and soft innovation; The speed of change is expedited, so does the speed of innovation. Innovation is the buzzword everyone is talking about it. But from innovation management perspective, who should be put in the right position for accelerating innovation?


Apply Discipline to Innovation Innovation is how to transform novel ideas to achieve their business values. Innovation management has overall very low success rate. Innovations in the digital era are coming at seemingly much fast space, with changes and potential disruptions, and therefore, innovation management also becomes more complex and dynamic. Innovation is not serendipitous, how to apply discipline to innovation for improving its success rate?


How to Build Innovation Strength in your Organization Digital innovation has a broader spectrum with hybrid nature, it is the incremental improvement- radical innovation continuum. It has broader scope beyond just a new product or service, radical innovation brings something that was not existing before. Incremental Innovation is more about taking something someone created and adding to it, changing it, adapting it; or to leverage the latest technology for business improvement. A fine tuned innovation is not a serendipity, how to build innovation strength in your organization?.


Digital Innovation Premium Many say digital is the age of innovation. With the increasing speed of changes and hyper-fierce competitions, at present days, innovation is the “Must Have” element of the business strategy if the organization want to stay competitive on the market. Digital organizations are complex adaptive living systems, which are comprised, in part, of people who are also complex adaptive living systems, all such systems function, grow and prosper by continually learning, innovating, adapting and evolving. Creativity has just become indispensable, and innovation turns to be a competitive necessity. From a business management perspective, how to build a high competitive organization with digital innovation premium?


Innovation as a Strategic Capability  Innovation becomes simply "creating value by solving simple or complex problems." Today, innovation can happen anywhere, anytime; it expands both horizontally and vertically. It’s the state of mind to think and do things from a new angle, it’s the business’s unique capabilities to gain a competitive advantage in the face of fierce competition and business dynamic. Generally speaking, innovation is to connect à solution to an unmet need, usually creating a win-win situation for both parties in term of value creation.?


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