Wednesday, August 9, 2017

Five Innovation Credos

Digital innovation is expedited to adapt to the increasing speed of changes.

The importance of innovation has increased as digital businesses today have the pressure to get more and better innovation.
Innovation is to connect the dots, synthesizing that goes in one mind, and teamwork through collective insight. High-innovative organizations can fine-tune innovation management as a differentiated business capability and master innovation in a structural way. Here are five innovation credos to improve digital innovation success rate and build a highly-innovative digital organization.

In life we come across various experiences, exposure to various situations, as the colorful dots, the more dots you have, the better chance your mind can connect them freely: Innovation is to “make meaningful connections.” How cleverly you connect your dots by leveraging your experiences and finding the solution to the problems is creativity. Thus, it is important to build an environment where people want to work, encourage brainstorming, and the top leaders inspire and respect of sharing ideas and collective insight, discover creatives and innovators and let them shine through and drive innovation. Encourage employees to connect the dots for sparking innovation, do things and problem-solving in their own way to bring good results. People will dare to be innovative as long as they know they won’t get penalized for a bad idea and get rewarded for a good one. To keep innovation alive in the organization, it’s necessary to first assure your think tank that you are willing to make an investment with calculated risks.

Innovation is a question of imagination, free thinking, growth mindset, not a question of investment only: Imagination is the fuel for the “Creativity Engine.” The term 'imagination' infers an environment of free thought with a lower regard for the constraints of what is practical/possible. The imagination can entertain the seemingly impossible, given the right resources of knowledge, experience, and talent. Creativity is an actual idea carried out in a tangible way that offers or shows something new or imagined. No imagination, the engine will not run. Thanks for those outliers in the history who take up the mantle of imagination and shine through, and they are the bridge to be created between the current 'impossible' to a whole new 'possible.' Hence, it’s important to create a culture that nurtures creativity and fertilize innovation. You never know how innovative you might be in some field before encountering the problems and before the adoption of solutions. Business innovation is bravery - practice, practice, and practice more, it can take you to a whole other place.

Build a heterogeneous team to close three gaps in innovation management - idea gaps, collaboration gaps, and implementation gaps: Today’s workforce is multigenerational, multicultural and multidevicing. You could say innovation can’t happen without diversity, the diversity of thought is the fertile ground for nurturing creativity and seeds innovation. The multidisciplinary, team-based approach taps into the collective genius of innovators who can think and do things differently. All humans are naturally creative. However, many silo-based work environments contain overly rigid processes which stifle innovation and have hidden barriers which discourage creativity. It is critical to recognize your innovation champions and build creative teams with cognitive diversity. It is also important to strike the right balance of business stability and innovation via building a suitable and hybrid environment for stimulating creativity, encouraging originality, and measuring innovation effectively.

Innovation journey is like taking a hiking trip at the trail very few or even no people ever went before, it takes courage and emotional maturity: Innovation is a journey enables people to pace themselves and recognize that innovation is not an on-off switch, and you have to continually flex the creativity muscle. A creative working environment makes the work not just a job, but an innovative journey full of discovery and adventure. Keep in mind, innovation is always the tough journey, not a flat road. Failure is part of innovation, failure is seen as a fruit full of experience. There will be ups and downs on the way and you need the resilience to make the journey to completion. Thus, innovation management takes a balancing act to have enough failure and an environment that encourages learning from failure quickly and cheaply, without having failures that are too frequent or too expensive. Innovation requires a much deeper whole system, an emergent, generative, iterative and integrative approach. So the differentiation between a good innovation and bad innovation are the innovation leaders’ attitude toward risks as well as the aptitude to manage innovations. The positive attitude is to be cautiously optimistic, take calculated risks and be alert about obstacles or pitfalls, inspire the team to take the adventure and practice more to build innovation as a differentiated business capability.

An innovation ecosystem is a systematic innovation methodological environment or a sort of innovation philosophy: Innovation is not serendipity, but a systematic management discipline. An innovation ecosystem should fully cover a wide enough direction: For example, cost optimization, waste reduction, quality improvement, capability orchestration, problem-solving etc. Being innovative is the ability to co-create in a digital ecosystem; a co-creation strategy treats customers, channel partners, suppliers, and industry ecosystem participants as active agents who have permission to combine the modular capabilities exposed in a platform to create new experiences. When the designed objects’ scale becomes more bigger, it involves more and more aspects widely, so the businesses need innovation silver lining from specific tools rising to an overall problem-solving system environment. If you want to be an “innovative organization,” you shape your current business structure to match your current stack rank of areas where innovation will reap the most significant benefit. Innovation ecosystem or the methodological environment should cover the whole innovation scenario, from processes in managing ideas or idea handling systems to idea implementation and promotion. That's why it is a set of means including methods that cover the process from problem's choices till commercialization.

Digital innovation is expedited to adapt to the increasing speed of changes. The speed of change is expedited, so does the speed of innovation. The essence of innovation is made of trying the new combination of known things. Innovation is a strategic choice if you are in possession of some “how-to”s. Digital innovation is a dynamic storybook that has intricate chapters, with a serendipitous cover, which can be flipped over to the next level, but it is a book that never ends.


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