Innovation needs to lay out different mindsets, structures, processes, resources, capabilities to unleash its potential.
Innovation is both art and science. Identification of the novel is only the beginning, the heavy lifting starts as an organization connects interdisciplinary dots whatever it makes sense, manages innovation cycles in a structural manner that provides sustained competitive advantage.
Innovation & lightweight process: Innovation management is a managed process to take ideas for generating multifaceted business value. It’s the mechanism through which you grow and evolve something to something new or better, value-add, mostly based on a combination or modification of previous attributes or approaches.
The main process barriers to innovation are silos, rigidity, inflexibility, stagnation, or bureaucracy, etc. An organization that has a lightweight process allows creativity to flow, get protected and channeled. Innovation Management can optimize processes, enable an iterative idea generation- implementation cycle. The right level of guidance and process is important, but overly rigid processes with heavy logistics will create bottlenecks, add complication and stifle innovation.
Innovation vs. un-structural processes: The structure carries inherent capabilities as to what can be achieved within its frame, directly impacts corporate culture and innovation effectiveness. A misaligned structure can reinforce a non-innovation friendly climate. The right structure is the one that allows the right mentality and culture to bloom. Ideally, the unofficial structure that has emerged over time is the formal structure you should have.
Business management can experiment with different structures for improving innovation success rate. If there is a strong mentality of invention and innovation, will a rigid official structure be just ignored in favor of an unofficial structure. Limited hierarchy with some “unstructured processes” as the digital normality works best to build a creative environment in which idea management are the key elements of long term business prosperity. Going forward, it may well require changing both official and unofficial structures into a hybrid structure that can support an innovation journey in the direction you are heading forward.
Innovation & resource management: Innovation management needs to break down resource bottlenecks and manage a well-rounded innovation portfolio effectively and efficiently. In practice, different types of innovation should be managed via tailored management processes and scientific resource allocation. Organizations need to set the right priority, balance or rebalance resources dynamically, and improve innovation excellence. An effective resource allocation scenario helps to take advantage of business resources effectively, optimize cost, set priority, keep processes transparent, and manage a well-rounded innovation portfolio systematically.
Innovation management is very complex but critical for the firm’s survival and thriving. Innovation needs to lay out different mindsets, structures, processes, resources, capabilities to unleash its potential. The good or bad innovation would depend on the business’s attitude to inspire creativity and aptitude to manage innovation. Great companies encourage “out-of-box” thinking and make innovation-led digital transformation proactively.
The main process barriers to innovation are silos, rigidity, inflexibility, stagnation, or bureaucracy, etc. An organization that has a lightweight process allows creativity to flow, get protected and channeled. Innovation Management can optimize processes, enable an iterative idea generation- implementation cycle. The right level of guidance and process is important, but overly rigid processes with heavy logistics will create bottlenecks, add complication and stifle innovation.
Business management can experiment with different structures for improving innovation success rate. If there is a strong mentality of invention and innovation, will a rigid official structure be just ignored in favor of an unofficial structure. Limited hierarchy with some “unstructured processes” as the digital normality works best to build a creative environment in which idea management are the key elements of long term business prosperity. Going forward, it may well require changing both official and unofficial structures into a hybrid structure that can support an innovation journey in the direction you are heading forward.
Innovation management is very complex but critical for the firm’s survival and thriving. Innovation needs to lay out different mindsets, structures, processes, resources, capabilities to unleash its potential. The good or bad innovation would depend on the business’s attitude to inspire creativity and aptitude to manage innovation. Great companies encourage “out-of-box” thinking and make innovation-led digital transformation proactively.
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