Innovation is an exploration, production, adoption, assimilation, and exploitation of value-added novelty in business, economic and social spheres.
Today, innovation can happen anywhere, anytime; it expands both horizontally and vertically. But it’s common that many companies tend to focus on their core competencies and often forget about the value of innovation management. Without innovation, organizations would be upstaged by the competitors that are creative because disruptive innovation will happen no matter you prepare well or not. Every organization has the capacity to innovate both as one of the initiatives or in a sustained way; both at the individual level and organizational level. How to build the organizational innovation strength by taking a logical scenario?
Organizations should clarify clear business goals for innovation: Innovation is creating to improve a state (process, person, product etc). Innovation is about moving forward or making a leap. In any business, if you are not moving forward, you are lagging behind. The forward-looking view of the organization is to determine what the future needs to look like, and how to build a smart system that can “smell” the right ideas at the right time and place. Business creativity is how to apply creative thinking for problem-solving and achieving business goals. Innovation simply benefits from being developed in and subsequently commercialized in an open ecosystem. It makes the pie of creative ideas grow bigger and benefits broader participants. Focus on meeting important customer needs, instead of just doing simply interesting research topics, helps to assure that the results of innovative approach will have the positive impact for the clients, partners, end users, and the marketplace. Innovation is to achieve the concept of “the sum is larger than its parts.” Thus, in the digital organizations, Innovation is a question of ambition, imagination, and leapfrogging. it’s essential for developing a company strategy with innovation strategy as an integral component to truly manage innovation in a structural way and improve its success rate.
Organizations should ideally have a sustainable approach to manage innovation: Innovation is not serendipitous. An established innovation model and defined structure are essential to managing innovation in a corporation, but there's no single structure that will work in every organization. To build organizational innovation strength, the robust process and tools that enable an entity to generate winning concepts on the consistent basis is the prerequisite for sustaining business advantage and growth. The well-defined innovation framework and fine-tuned structure are essential to managing innovation in a corporation, but there's no single structure that will work in every organization. Highly innovative organizations have deployed a range of different management methodologies and technologies and tailored their own circumstances for developing the fitting innovation models. The leverage point is how to structure innovation to stay focus, without adding too much complexity. Highly innovative organizations usually have lightweight processes which allow creativity flow, get protected, channeled and nurtured will become more successful than the organizations that do not have such a process.
Assign the roles and responsibilities to people involved in innovation processes and in connection with the processes and models: Organizations need to have all different talent for innovation, such as innovation creator, translator, implementer, stabilizer, or navigator, etc. Innovative development team members exhibit creative traits that make them better able to generate or discover good ideas, have sound judgments to know what’s important and solve business problems in alternative ways. Organizations should appreciate their innovators because they can lift the business out of the stagnation and lift the company toward the next level of the growth cycle. Innovation leadership is critical. Innovative leaders are inspirational for taking calculated risks, being digital fluent and technology savvy, They are problem-solvers, who have to create, manage, and orchestrate the innovation symphony not completely written yet. Innovation leaders also have the “appreciated eyes,” to recognize those innovators; look out for curious people with a broad knowledge based, interdisciplinary understanding, and hands-on attitude. Part of the innovation capability coherence comes through the sense of ownership, which is different from managers' "owning" their people. The right people with creative abilities have been assigned to the right role for building highly innovative teams to deliver innovation continually.
Organizations are at the different stage of business maturity, they should tailor their business needs and take a logical approach to build their organizational innovation strength. Innovation is an exploration, production, adoption, assimilation, and exploitation of value-added novelty in business, economic and social spheres. It needs to be managed systematically to achieve the long-term business results in a consistent way.
Today, innovation can happen anywhere, anytime; it expands both horizontally and vertically. But it’s common that many companies tend to focus on their core competencies and often forget about the value of innovation management. Without innovation, organizations would be upstaged by the competitors that are creative because disruptive innovation will happen no matter you prepare well or not. Every organization has the capacity to innovate both as one of the initiatives or in a sustained way; both at the individual level and organizational level. How to build the organizational innovation strength by taking a logical scenario?
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