Saturday, August 4, 2018

The Monthly “Unpuzzling Innovation” Book Tuning: The Business Innovation Strength and Maturity Aug. 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. 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. Innovation is not serendipity, but a discipline.

The Innovation Strength and Maturity

How to Build Innovation Strength in your Organization Digital innovation has a broader spectrum with hybrid nature, it is the incremental improvement- radical innovation continuum. It has a broader scope beyond just a new product or service, radical innovation brings something that was not existing before. Incremental Innovation is more about taking something someone created and adding to it, changing it, adapting it; or to leverage the latest technology for business improvement. A finely tuned innovation is not a serendipity, how to build innovation strength in your organization?

Three Innovation Clarity Innovation is the specific phenomenon and strategic imperative of the knowledge-based digital economy. 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. Innovation is often dependent on business insight because you can't change an organization without insight. How to demystify the puzzle of innovation and improve the success rate of innovation management?

How to Assess and Improve Innovation Management Maturity For many organizations, innovations are still serendipitous. However, serendipity can be planned into an innovation project. Serendipity is not a lucky accident, and it can be planned and worked upon. Has a lot of determination and divine providence for those who believe in that. Serendipity will always play some part in the innovation effort, but innovation is both art and science, Innovation Management is a scientific management discipline, how do you assess innovation management maturity, though?

Three Innovation Management Approaches Digital era opens the new chapter of innovation. Today, in 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.

CIOs as “Chief Innovation Officer”: How to Improve Organizational Innovation Maturity Many say digital is the age of innovation. Today, innovation can happen anywhere, anytime; it expands both horizontally and vertically. It’s the business’s unique capability to gain a competitive advantage in the face of fierce competition and business dynamic. More fundamentally, it’s the state of mind to think and do things from a new angle. Innovation is no longer “nice to have,” but “Must Have” differentiated capability of the organizations who want to stay competitive in the market. However, innovation management has a very low success rate, how to manage innovation effectively and improve the organizational innovation maturity?

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