Saturday, July 2, 2016

Innovation Brief: The Trends of Digital Innovation July, 2016

Digital innovation has broader scope and takes more cross-box thinking and experimenting.

Innovation takes a cycle of observing-questioning-connecting-networking-experimenting. From the management perspective, innovation is how to transform novel ideas to achieve its business value. Due to the hyper-complexity of modern business, innovation is essentially about reducing the unnecessary business complexity to tackle the complexities of business dynamic. Here are a series of blogs to brainstorm the digital trends of innovation.

The Trends and Characteristics of Digital Innovation

How to Manage the New Chapter of Digital Innovation  The world is becoming more hyper-connected with the latest digital technology advancement, are we ready to open the new chapter of digital innovation? Can we develop an approach which also places social, political and ethnic differences within a common framework to generate meaningful progress toward the next level of innovation? Is it possible to integrate innovative concepts into a comprehensive approach that can generate intelligent solutions to the seemingly insurmountable large-scale problems? For example, how do you balance the partitioning of land and sea between man and nature? How can you use energy from sunlight to recycle all mass at the molecular scale locally? And if you were the Chief Innovation Officer in the organization or on the Earth, what’s your innovation agenda?

Running IT as an Innovation Hub IT is omnipresent and permeated into every corner of the organization. Forward-looking organizations are also reinventing IT reputation from a cost center to a value creator, from a static support function to a dynamic change agent; and from inside-out operation driven to outside-in customer-centric.To put simply, how can IT build differentiated capabilities to become an information power center and an innovation engine?

Three Aspects of Digital Innovation Innovation agility is a critical business capability to manage innovation life cycle with speed, Idea validation is a crucial step in managing innovation with effectiveness and agility. The idea evaluation is a critical part of successful new product/business development. The basic goal of Idea Evaluation should be to quickly and thoughtfully weed out potential projects that are not a good fit for your particular business, so you can focus on the good ideas and commercialize its potential business values. It is also an important aspect of innovation agility.

How to Digitalize Human Capital Management As always, talent is the most significant asset in any organization today. However, many businesses still treat their people as cost or resource only, lack of integrative approach to manage performance & potential; knowledge & culture in a holistic way. With the latest digital technologies and social platform, how to manage your human capital with effectiveness and agility?

How to Foster innovation and Manage Digital Disruption? In order to survive and thrive, innovation is “must have,” not “nice to have” approach in running a business today. But for most organizations, innovation is just a big puzzle with many tangled concerns: Can innovation be planned? What are some of the ideas that were applied to innovative initiatives that you have underway or experienced, either as the driver or participant? What are some viable approaches to being innovative while addressing the constant budget squeeze? Is innovation management a paradox? Do you have such an abundant innovation pipeline? If yes, what are the important considerations for leaders or managers to focus on? If not, how can organizations recognize innovation? In either case, how can leaders or managers in organizations leveraging innovation on their digital transformation journey?

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