Friday, February 9, 2018

The Monthly “Unpuzzling Innovation” Book Tuning: Digital Innovation Principles & Practices Feb. 2018

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 are 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." 


Digital Innovation Principles & Practices

Three Aspects of Digital Innovation? Today we see a rapid shift in digital paradigm. We are more creative and innovative than ever. We create more value than ever. Some say caring =prosperity. Is it true? When we care, we put in the effort, we change things, hopefully, make them better. By doing this on the small scale, can we help make our own prosperity? Be scaling up, can we overcome many big challenges facing human society as a whole. Is innovation used enough along with caring, to provide an economic solution? Is love the driver? The question is how do we capture value in this new dynamic environment in which information travels in an instant from one side of the plant to the other? What needs to be changed in regards to leadership, methodologies, and practices?

The Next Cycle of Digital Innovation Management 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. Often, in traditional organizations, corporate innovation stagnation is caused by overly rigid organizational structure, change inertia, too much focusing on incremental innovation and maintenance, and internal metrics discouraging the long-term innovation as well. How can organizations fine-tune their business elements, build a dynamic strategy to accelerate the next cycle of digital innovation management?

Three Practices of Digital Innovation
Generally speaking, innovation is to transform novel ideas to achieve their business values. It is not a serendipity, but a discipline and a set of practices to achieve business goals. Innovation helps to tackle the complexities of business dynamic in the digital ecosystem, but often within itself, it needs to change and improve as well. Therefore, digital paradigm shift also includes the perspective of building a scalable innovation environment or innovation ecosystem. It is crucial to fine-tune innovation processes, capabilities, and develop a set of practices to manage innovation portfolio more effectively.

Digital Innovation Manifesto Digital era opens the new chapter of innovation. Today, at the hyper-connected digital ecosystem, innovation can happen anywhere, anytime, it expands both horizontally and vertically. Innovation comes in many flavors and there are many opportunities in an enterprise to do so.

How to Manage the New Chapter of Digital Innovation Innovation is the specific phenomenon of the knowledge-based economy. It is about having new knowledge and new processes. It is also about too much knowledge in terms of too many good creative ideas and too little available resources. Innovation is about prioritization as well - via a systematic discipline that can "smell" the right idea at the right time and place, make it tangible, and achieve its business values.

The “Future of CIO” Blog has reached 2 million page views with about 4300+ blog posting in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom. Blogging is not about writing, but about thinking; it’s not just about WHAT to say, but about WHY to say, and HOW to say it. It reflects the color and shade of your thought patterns, and it indicates the peaks and curves of your thinking waves. Unlike pure entertainment, quality and professional content takes time for digesting, contemplation and engaging, and therefore, it takes time to attract the "hungry minds" and the "deep souls." It’s the journey to amplify your voice, deepen your digital footprints, and match your way to
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