Tuesday, October 25, 2022

Initiativesofinnovation

A highly innovative organization can leverage the robust, but not overly rigid processes for idea filtering and implementation, to achieve innovation excellence ultimately.

We are at the intersection of knowledge economy and creative economy, the enterprises today need to become more open and agile for adapting to the changing environment. 

It also needs to build a healthy working environment in which people are inspired to spur fresh ideas; the best of best ideas can be implemented effectively. In fact, right now, innovation is the only light all businesses need to pursue now. If idea creation is more art than science, and then idea implementation is more science than art.

Innovation is the commercialized creativity: Creativity results in ideas but until those ideas are actualized they will remain ideas. That is innovation management. If people are the weakest link in business, Individuals who learn both broadly and deeply, shift gears in their day to day work, can often produce more ideas and have more unusual dot connectivities to spark great ideas. The ideas flowing, and wrapping around with ideas create a beautiful landscape for sparkling innovation.

In a collective setting, people play different personas such as innovation navigators, innovation implementers, innovation assessors, etc, who can apply information-based intelligence to unpuzzle innovation effectively. The nature of how the implementation of the idea has to follow a logical path and scientific discipline by using organizational knowledge timely, with the aim of optimizing the value that is generated tangibly.

One of the real challenges to innovation management is how to accelerate idea validation and streamline innovation processes: Even if you have many innovative ideas, it doesn’t guarantee innovation success due to the limited resources and possible execution gap. Focusing on convergent thinking helps in terms of validating or invalidating an idea and the execution of an idea. You need an idea to be executed; a highly innovative organization can leverage the robust, but not overly rigid processes for idea filtering an implementation.

It is important to use a front-end innovation process between strategy and concept development, experiment, prioritizing and measuring what to invest in to “value” the early ideas and unmet needs. Start-ups tend to be stronger at the ideation phase and getting to proof of concept. Generating ideas is more art; identification of the novel is only the beginning, the heavy lifting starts as a firm aligns resources and executes, it is the science of innovation management.

The nature of how "implementation of the idea has to follow a logical path for the solution": Organizations need to develop a balanced innovation portfolio with both incremental innovation and breakthrough innovation. There are blind spots in innovation strategy formulation and implementation. Because limited hierarchy works best in a creative environment where the free flow of information and their prompt implementation is a key element of success, to generate business value and delight customers.

Innovation statistically has a very low success rate. That means organizations probably wouldn't know where the weakest link in the business innovation is. Logically, transparency in follow-up of a system of the innovation process from the idea up to implementation, enhancing feedback cycle and management discipline, & peer recognition are so important to catalyze innovation. Innovation often evolves the full methodological environment which covers the whole innovation management scenario, from processes in managing ideas or idea handling systems to idea implementation and promotion.

It’s important to keep connecting the wider dots if ever it makes sense and improve innovation effectiveness and maturity. A highly innovative organization can leverage the robust, but not overly rigid processes for idea filtering and implementation, to achieve innovation excellence ultimately.



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