Wednesday, May 12, 2021

Innovation via”Three-leg” System

Being able to engage in the successful creation of innovations is very hard work and does include a good strategy, a lot of skills and abilities as well as processes and theories.

The essence of innovation is made of trying new combinations of known things. It's the essence of problem-solving and progress. Innovation management is a “three-leg” system: An innovation strategy, a culture to support or even drive innovation, and an innovation management mechanism. 

In practice, the innovation strategy is not a thing or even a state, but a process of lining up the culture of creativity. People would like to take the calculated risks in experimenting with a new way to do things, as well as having the business model they create to get it done.

A good innovation strategy as leverage points helps the business structure innovation to stay focused:
Due to the complexity of modern businesses, within the organizations, innovation nowadays is rarely an individual action; rather, it is a strategic discipline and systematic effort, often across multiple functional silos or even breaking down the industry boundaries. A good innovation strategy enables the business to focus on the business goals, develops the innovation best practices and builds business innovation competencies by shaping the best point of view to see innovation as a system and be capable of delivering organization-wide capabilities.

A well crafted strategy ensures that the results of an innovative approach will have a positive impact for the clients, partners, end users, and the marketplace. In some circumstances, an organization has developed a wonderful innovation strategy, but it does not apply to the environment mainly due to its organizational capability in executing it timely with agility, etc. Innovation strategy management provides coherence between actual capability and the strategic goals that have been defined, and addresses in outline how the strategic objectives will be achieved, which includes exploiting your center of gravity. Highly innovative organizations usually have a good innovation strategy to frame effective constraints and facilitate digital dialogues to diagnose problems and generate fresh ideas by tapping the business ecosystem.

It’s critical to cultivate a culture which inspires creativity, accepts external ideas and rapidly integrates them into innovative ideas: With an ever evolving business ecosystem, a corporation needs the culture to sustain cross-boundary engagement to discover external ideas, as well as interdisciplinarity to harness a creative culture. Can you impose a culture of innovation, or shall you build, cultivate, or foster it, and how? Culture is like soil, the organization is like land. The more fertile the soil, the better nourishment the crop and plant products will be.

Innovation can occur anywhere in the organization, and it has to occur in every aspect of the organization. The right kind of mind helps to build the right type of skills and the right dose of risk-taking attitude to innovate. Good ideas nearly never emerge spontaneously but from interactions, not single individuals. Silos, rigidity, inflexibility, static mindset, or bureaucracy, etc, create gaps and slow down idea flow and stifle innovation. The appropriately configured innovation platform creates a scalable means for brainstorming, designing and building ideas throughout the enterprise. As a result, innovation becomes a persistent, shared reality even across silos and geographies.

Embed innovation management mechanisms into the corporate DNA: Unlike many other types of operational business processes which are strictly based on hierarchical management discipline, innovative ideas should be reviewed, selected and developed by leveraging simple empowered processes. To embed innovation management mechanisms into the corporate DNA and align the implementation processes with an innovation strategy, it needs to lay out different thinking, structures, and solutions to develop into the business potential where organizations are combining all that is available to them in imaginative or advantageous ways. While organizations can innovate without clear systems of innovation, the ability to achieve sustained innovation results probably does require at least some degree of a 'hard-wired' innovation system with embedded mechanisms, not speaking about disciplines that are related to technologies implemented by the particular innovation. Priority, process, and resource framework can be a tool for managing innovation effectively.

Highly innovative organizations have a powerful innovation navigation system to detect opportunities for innovating and a highly effective IT system to integrate important business elements into innovation competencies. The level of guide and process needs to be right. If you don't have the right level of Innovation Management process in place, it is substantially harder and less likely to be an innovative company for the long run. Methodologically, innovation becomes more people centric; the need-based innovation depends more on customer focus groups and “idea workout” sessions, leverage the mechanisms that can provide deep insights into the end-users of the products, and make a point of engaging customers directly to generate new ideas.

Being able to engage in the successful creation of innovations is very hard work and does include a good strategy, a lot of skills and abilities as well as processes and theories. How well the organization management innovation is based on the varying factors, such as the speed of decision-making, attitude toward risk, how effective for the allocation of resources; what’s the altitude of innovation impact and the aptitude to manage innovation; how efficient of the innovation processes or lack thereof; when to follow the digital principles, and when to break rules. In brief, innovation management is more science than art.

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