Initiatecrossindustrialinnovation

 Nowadays, innovation has expanded the spectrum of cross-boundary communication and collaboration

Innovation is the light every forward-looking organization is pursuing; it simply becomes creating value by solving simple or complex problems in alternative ways.

In complex modern society, innovation is a process which can be managed smoothly by taking structured approaches and scientific methodologies to maximize business value delivery and delight customers consistently.

Identification of information as leverage point: Information is one of the most time-sensitive pieces of the innovation puzzle. Information flow is, in fact, a leverage point to synchronize business functions for innovating and creating organizational synergy. It’s important to identify how information is associated with the tangible value of the business, products, and resources; and then, refine information to capture business insight for exploring innovation opportunities and preventing risks.

With the faster paces of changes and continuous disruptions, How well the organization manages innovation is based on the varying factors, such as talented people with creative potential, the speed of decision-making, the appetite and attitude toward risk, how effective for the allocation of resources; what’s the innovation impact and the aptitude to manage innovation. Forward-looking companies leverage data-based analytics to understand customers’ needs, collect invaluable feedback for generating fresh ideas, grasping innovation opportunities, preventing risks and improving innovation success rate.

Initiation of multipath innovative problem-solving scenario: In the age of people, choice, and empathy, leading companies across the vertical sectors put emphasis on customer-centric innovation. The customer including prospects should be studied, observed, and get involved in innovation processes, ensuring that the goal of "adding value to the company by adding value to the customer" is achieved. Even though there’s only one destination-either for delighting customers or engaging employees; creating new revenue streams or designing a good business model, it perhaps takes a multi-route to get there.

It’s important to provide choices for costumes on how to solve their issues by listening to their feedback, and delivering intuitive products/services to meet their needs. Point out that customer inquiries are not only support related, but can also foster innovative ways to solve problems. Have a heterogeneous group setting and let people view an idea from different perspectives, take multi-path innovative problem-solving scenarios; generate distinct alternatives that could pursue the objectives. Develop a composite team perspective on what are the likely outcomes of each alternative, select the most fitting solutions to improve customer satisfaction.

A balanced innovation cycle with ecosystem collaboration: With blurred functions or industrial territories, innovation management relies less on silo functions, and more on cross-boundary communication and mass collaboration. The enterprise collaboration platforms and emerging digital technologies enable companies to take multi-industrial collaboration, leverage various environments to spark breakthrough innovation. The ecosystems draw together mutually supportive companies from multiple industries that collectively seek to create differentiated value that could not be created alone.

The ecosystem is dynamic and healthy. By engaging employees, customers, business partners and varying stakeholders of the company, continuing innovation takes place for the community to thrive, to ensure that interdependencies and loyalties between partners are taken into account and build up a strong innovation hub for improving resource management effectiveness, talent fluidity, process coherence, keep a balanced cycle of incremental and breakthrough innovation management to reach the renewal stage of organizational growth and societal advancement.

Innovation shouldn’t be serendipitous; it needs a certain level of guidelines and rules. And digital innovation has expanded the spectrum of cross-boundary communication and collaboration. People centric innovation is the choice generator for delighting customers and driving business growth by managing ideas effectively, producing great solutions to tailor customers’ needs smoothly, and improving overall innovation manageability.

Posted in: Innovation