Thursday, March 1, 2018

The Monthly “Unpuzzling Innovation” Book Tuning: Digital Innovation Frameworks and Approaches Mar. 2018

Leveraging Innovation framework is the scientific approach to manage innovation in a structural way.

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. Digital Master refers to those high-performing, highly innovative and high-mature (less than 15%) digital organizations; at the individual level, Digital Masters are those cross-generational digital professionals who are equipped with the advanced digital minds and build a unique set of digital capabilities. 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. Leveraging Innovation framework is the scientific approach to manage innovation in a structural way.

Digital Innovation Framework and Approaches

How to Develop a Comprehensive Innovation Framework? Innovation is not serendipity. Working in an innovation garden not only takes passion but also needs the process and hard work. A systematic innovation approach is to depict innovation as a system, rather than a traditional process. Innovation performance depends on the alignment of its various components (people, process, resources, actions, controls, measurement, etc.). Though there's no single structure that will work in every organization, the comprehensive innovation framework with all important enterprise components is the great tool to intensify innovation with focus and manage innovation in a structural way.

A Systematic Innovation There are many forms of innovation - technological, application, product, design, business model, process, communication and customer experience -- just to name a few. Each has its own unique pathways. Also, as innovation can and should occur at different and ALL levels of the corporate structure: from C-level to the shop floor, to make any entity slimmer and stronger. So, can forward-looking organizations manage their innovations more systematically and how?

Three Innovation Management Approaches Digital era opens the new chapter of innovation. Today, at the hyperconnected 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, such as breakthrough innovation, evolutionary innovation, incremental innovation, systematic innovation, customer-centric innovation, open innovation, design-driven innovation, or management (leadership, culture, communication) innovation, etc. There is no one-size fits all formula to manage all sorts of innovations well. But innovation shouldn’t be just serendipitous as well. Here are three management approaches to improve the innovation management success rate in the digital era.

The Characteristics of Innovation Risk Management
Innovation is a systematic way of applying creativity in the real life and it takes disciplines to manage both opportunities and risks but what are the characteristics of an innovation risk management framework?

The New Book “Unpuzzling Innovation” Conclusion: Mastering Innovation in a Structural Way
Innovation is about future, without it, you lose sight of tomorrow. Innovation is an exceptional, exclusive, and realistic idea that separates you from others without a second thought. Innovation is about growth, it captures the essential element of any business and quality within every leader. When innovation outside your organization outraces innovation inside your organization, it is time to address factors influencing business velocity, performance, profitability and customer preference. Look to and listen to your data, use it to help you drive innovation. Innovation becomes simply “creating value by solving simple or complex problems.” The importance of innovation has increased as the business has the pressure to get more and better innovation. And high-innovative organizations can fine-tune innovation management as a differentiated business capability and master innovation in a structural way.

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