Wednesday, September 8, 2021

Innovativecompanies

Innovation is a unique business competency for the organizations to thrive in fierce competition and frequent disruptions.

Modern organization has its own sophistication- silo functions, the sea of data, and the pool of talents, etc. The beauty in running an innovative and integral organization is in harmony, as a holistic living thing rather than “the sum of pieces.” 

And only through diversification, coordination, personalization, unification, harmonization, etc, the full business potential can be unleashed.

An innovative organization can be developed via enhanced collaboration and unification: To run an innovative business, an interconnected systematic innovation management approach has become an art out of necessity to address critical issues, clarify strategies, advocate inclusiveness, unify diversification, and ensure people in it can prosper and thrive to unleash creative potential. Information Technology is more like glue- an integrator, than a tool for knitting all important business elements such as people, process, and technology into a differentiated set of organizational capability. Innovation happens at the intersection of people and process. It takes a holistic look at the variety of business relationships and interconnectivity, emphasizing communication, participation, relationships, collaboration for connecting creative dots and capturing great insight to innovate successfully.

To connect the wider dots for sparking innovation, organizations today need to encourage cross-boundary knowledge exchange and collaboration. In reality though, many organizations that get stuck at the lower level of business maturities, the overly rigid hierarchy and functional gaps create bottlenecks that prevent information flow, stifle innovation and slow down business speed. Process optimization and structure flattening are the management approach to implement innovation strategies of the business by consolidating, modernization, integration, optimization, and unifying for reducing friction, eliminating cost, and accelerating information flow.

An innovative organization can continue to deliver personalized solutions to tailor customers’ needs by enabling an effective idea generation-selection-implementation cycle: Without customers, organizations become irrelevant; without ideas, businesses get stale. A highly integral platform for idea management, in the given culture, operating environment, and governance, enables the organization to mix schools of innovative thoughts, strike the right balance of theories and practices, try the different combinations of old or new things, embracing a fresh concept that you may have never imagined, connect wider dots to accelerate idea generation-selection and implementation cycle.

What're the obstacles to building scalable idea management which means for sharing and building ideas throughout the enterprise, even across silos and geographies? To keep idea flow and business fluidity, the variety of components such as innovation leadership, culture, capability, practices, tools, recognition system measurements, risk management, etc, are all crucial to transform novel ideas to personalized solutions for fitting customers’ needs in an effective innovation environment. The idea management can be one of the most crucial parts of innovation management planning and implementation, strengthening the innovation effort and success rate of the organization.

An innovative organization hyperconnected into an expandable ecosystem engages in multi-industry collaborations to enforce innovation, especially breakthrough innovations: Innovation happens frictionlessly in an open environment; contemporary businesses are not the "closed system," but the dynamic digital ecosystem which is complex, interrelated, and interconnected, full of opportunities and risks. An effective innovation leaders understand that a highly collaborative system is a necessary precondition for an effective intervention, leverage a scientific innovation management framework to threshold all critical factors, such as process, technology, culture, etc, develop an interface and interaction associated with complex systems, integrate all crucial components into differentiated innovation competency, engenders new perspectives or actions as part of the process of creating a cross-disciplined innovation approach.

An innovation ecosystem is dynamic, expansive, interdependent, and hyperconnected. Instead of being overly rigidly grouped around a specific function or business, an enriched innovation ecosystem enables cross-boundary communication, engages in multi-industrial collaborations, enhances systematic innovation management, and draws together mutually supportive companies from multiple industries that collectively seek to create the differentiated value they could not reach alone. It allows information exchange and participants involvement, to ensure that interdependencies and loyalties between partners are taken into account, build up a strong innovation engine, and further evolve to weave an open and dynamic innovation ecosystem.

Innovation is a unique business competency for the organizations to thrive in fierce competition and frequent disruptions. Companies have to gain a greater awareness of the intricacies and interdependencies of organizational systems, processes, people dynamics, technology, resource allocation. It is imperative to transform the traditional process-driven silo management flavor to a people-centric digital management style by breaking down idea bottlenecks and closing the variety of gaps to shape a highly innovative organization for generating great value and ensuring long term business advantage.

1 comments:

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