New Trajectory of Innovation

 So it's critical to build strategic agility and stronger capability to reach the new trajectory of growth, build innovation competency, and keep moving up organizational maturity. 

Innovation is about moving forward. In any business, if you are not moving forward, you are lagging behind. There is no standing still. The innovation must be perceived as new by individuals or other units of adoption, but it does not need to be a new invention. 

In hyperconnected and interdependent global societies, innovation includes both hard innovation and soft innovation; incremental innovation and radical innovation; local innovation and worldwide innovation. The characteristics of innovation, including relative advantage, compatibility, malleability, and complexity, influence the likelihood that it can be implemented and adopted. 

Communication: Communication is essential for the diffusion and subsequent acceptance or rejection of an innovation, which can alter the structure and function of a social system. Change is measured by the number of people, groups, or institutions adopting the innovation over time.

Innovation Growth Trajectories: There are three points at which there must be some social involvement in technological innovation: social need, social resources, and a social ethos. Different innovation paths and trajectories can help organizations align their strategies with market needs, technological trends, and competitive pressures. Each type has its own risks and rewards, and successful companies often leverage a combination of these approaches to drive growth.

-Linear Growth: Steady, predictable growth often seen with incremental innovations.

-Exponential Growth: Rapid growth is typically associated with disruptive or radical innovations.

-S-Curve Growth: Initial slow growth, followed by rapid acceleration, and eventually leveling off, is common in many technology adoption patterns.

Innovation Performance:  Either at the individual or business level, innovation performance is mostly a mix of past and present. Innovation is the process of transforming novel ideas into business value. There are idea management indicators or indices, implementation process management indicators, innovative culture indicators, individual creativity indicators, creative/analytical capacity (ideation/evaluation) indicators, etc. An objective assessment of innovation performance is crucial for the company to improve innovation competency.

When organizations start to slow down the speed of innovation or even turn to stagnation, it could be a reference to a state of complacency. So it's critical to build strategic agility and stronger capability to reach the new trajectory of growth, build innovation competency, and keep moving up organizational maturity. 

Posted in: Global Perspective,Innovation