In essence, innovation is,"intentional novelty bringing sustainable benefit."
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 about 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." Here are the collective blogs to brainstorm digital innovation best and next practices.
Innovation Management Best & Next Practices
Three Management in Innovation Management? The definition of innovation is simple, it is about transforming novel idea and achieving its business value. It is about gaining benefit by doing something different. 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. Here are three management disciplines in innovation management.
Innovation Best Practices vs. Next Practices The business practice is always a combination of people and how they are used to doing things. Digital is the age of innovation. Innovation is the process which can be classified scientifically and managed dynamically. Besides building a set of principles to follow, it’s also important to develop a set of innovation practices to scale up and amplify its effect. The point is that innovation is change, the overly rigid processes could stifle innovation and outdated practices perhaps fail innovation effort and decelerate the pace of innovation. So, best practices vs. Next practices, how to review and update them accordingly to unpuzzling the serendipity of innovation and improve the success rate of innovation management?
CIOs as “Chief Innovation Officer”: Three Aims of Breakthrough Innovation There are both incremental innovation and breakthrough innovation. Breakthrough innovation is disruptive, with high return and high risks. There are many areas within a company where the innovation process can be applied to create value, from product innovation to service innovation, from process innovation to business model innovation, etc. The innovation context goes beyond the traditional scope and extends to the full spectrum including both hard disruptions and soft touches. Innovation breakthroughs that really hit the spot are often the radical new approach that makes a leap of the business to the next level of the growth cycle and achieves the high return on investment. Here are three aims of breakthrough innovation.
“Out-of-the-Box” Problem-Solving Every mind has a certain box, some smaller, some bigger. the commonality is that "the box" tends to be what people with certain experience in the topic can identify as being "commonly known." It can also mean "solutions/answers" they have heard before. It is usually about how to fix problems via conventional ways. On the opposite, Out-of-the-Box” problem-solving is about continuing to break down the old box or known method, and shape the new box thinking to discover alternatives and solve complex problems via creativity and collaboration.
How to Inject Creativity into Digital Transformation Digital disruptions are inevitable, and digital transformation is unstoppable. Organizations shouldn’t just respond to them in a reactive way. They have to be proactive, informative and innovative. To make the journey more fun and engaging, it needs to inject the right dose of creativity. And test for how 'creative' or accepting of 'creativity a company is by asking insightful questions.
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