Monday, June 26, 2023

Innovation

There are both innovation paradoxes and dilemmas that innovation leaders must deal with in order to overcome challenges.

Organizational and economic environments play an important role in spurring creativity and catalyzing changes. There are both tangible and intangible elements which need to be knitted into the unique innovation competency of the organization. 

High-innovative companies or societies can source creative ideas in a more open way and leap innovation management to the next level of maturity.

It is important to capture the rising trends and take advantage of changes in the external environment to spur breakthrough innovation: To disrupt, you must hear the whispers of customers, understand knowledge contexts, harness cross-functional collaboration. There are introspect, retrospect, or techno-spective of innovation It seems that many companies going through a period of introspection believe that they already implicitly understand the nature of innovation. There are many human links within the innovation phases and usually implemented in teams. If you have a stable process to generate, share, implement ideas, then innovation is not serendipity, but a management practice.

An open business system is value added to create a dynamic, interdependent methodological environment with a set of multifaceted practices to catalyze innovation: Organizations define what innovation means to them and how they choose or need to deliver, such as business model innovation, culture innovation, structure innovation, products/service/ process innovation. Breakthrough innovation is disruptive, often it changes the competitive landscape, even creating entirely new industries or products capable of empowering an overwhelming number of those who were previously unserved and underserved, with high return and high risks.

A substantial innovation sometimes leads to unexpected organizational changes, sometimes to handle success and sometimes to build on that success: People can be provocative, passionate, really intrinsically motivated about, and courageous enough to be innovative. There is a willingness to "not know"; from letting go of the current reality to allowing an unknown future state to emerge; be able to source possibilities in the emerging space, implement or execute in new and unexpected ways. In the final phase of innovation, where the idea is evaluated, applied, adapted, and optimized, change management is essential, so that individuals and organizations can benefit from the value of the innovation and sustain its impact.

There are both innovation paradoxes and dilemmas that innovation leaders must deal with in order to overcome challenges. They are more open to diverse opinions and feedback, listen to customers, take the path perhaps no one ever takes before, and become more resilient to fail forward.

3 comments:

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