Monday, March 14, 2022

Innovation

We don't really know the future of the industry or the environment, but we prepare ourselves to create it better and compete in it.

Innovation is not serendipity, but a systematic process to transform novel ideas and achieve their business values. In the rapidly evolving businesses and economic systems, often innovation is very complex but critical for firms' survival and thriving. 

The essence of innovation is made of trying new combinations of known things; it's the essence of evolution.




Innovation & aura: "Aura" is an outline of energy around us; creating a kind of vibration around us. That enthusiasm, energy, and optimism generate a positive aura which nurtures creativity. Creative people release positive energy, and increase their aura flow. There are positive and negative auras. The more worry about your weaknesses turns into a negative aura! When the color of aura shows bright colors, it often reflects the positive mentality, breaks down conventional wisdom, brings new perspectives to spark fresh ideas and transform inward focus creativity into outward driven innovation.

Humility coupled with supreme confidence is the rich "AURA" factor indicator to boost creative energy. Innovation is often a collaborative effort. People with great auras can attract others to them since most have wisdom, power, and love exuding from their energetic bodies. Belief is the aura! At the group setting, the complementary mindset and talent generate the aura with color spectrum surrounding the environment, share fresh viewpoints and co-develop ideas consistently.

Innovation & adjacency: Innovation is about transforming novel ideas to achieve its business value; it’s the process that can be managed. Innovation then happens in three ways - it enhances core business capability, it finds a better balance with adjacent marketing, or it is transformative. That means creativity is about connecting relevant dots and innovation can be expandable. Organizations should have a balanced portfolio of innovation initiatives composed of "incremental" innovations, "adjacent" and "radical/breakthrough." The precise ratio of each category depends on the size of the company, as well as the industrial sector the business belongs to.

Innovation often has a lot to do with external circumstances, the adjacent marketing, while the management tends to focus on internal circumstances. But just because innovation is greatly influenced by external circumstances doesn't mean the innovation system of the organization should be unstructured. Structural innovation management requires an effective innovation ecosystem that is capable of supporting both widespread incremental innovation and the rarer step-change innovation in products/services, business model, design, process, and market positioning.

Innovation & application:
Innovation often happens at the intersection area of business and customers, in which cross-disciplinary teams need to understand the business holistically to ensure that the customer application portfolios offer real value to unlock business performance. Outcome-driven innovation enables the emotion to be removed from prioritizing unmet needs, unused or underutilized applications that consume a disproportionate amount of resources when compared to their value, need to be addressed. Look to consolidate, re-use, and integrate wherever possible, The goal is to delight customers by providing delightful products or services cost effectively.

Innovation is what leads to differentiation. The business line must be cognizant of innovation opportunities and agree to proceed with the proof of concept if they see merit. It is the development of a new combination of available resources in a way that solves problems in alternative ways. Building customer-facing applications is strategic to delight customers with tailored solutions.

We don't really know the future of the industry or the environment, but we prepare ourselves to create it better and compete in it. Digital innovation has an expanded scope and it is benefiting not only their organization, but also their industry, even the widest audience of the digital ecosystem .Innovation is not some random effort, but a differentiated business competency being built scientifically to accelerate performance and unleash collective potential.

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