Forward-looking companies shape competitive talent and teams, refine organizational design and structure, improve business excellence, and accelerate the speed of change.
Innovative business is developed based on visionary leadership, emerging technologies, goal-driven, people centric dynamic processes, as well as talented people to solve problems alternatively and achieve high performance results.
Leadership innovation: The organizational boundaries are blurred somehow, the purpose and effectiveness of innovation depend on the leadership attitude to drive innovation and its aptitude to manage innovation. However, many organizations that get stuck at the lower level of maturity are divided by so many gaps across leadership, management, and innovation, etc. Thus, developing creative leadership is essential to being successful in innovation management in today's business climate.
In order to bridge innovation gaps such as communication bottlenecks, silo processes, the weak links in management, it is imperative to articulate, explore, understand, and embrace innovative leadership for it to generate multifaceted value interdisciplinarily, build integral capabilities for leadership development. In order to run an innovative organization, leadership innovation is a prototype practice, organizations need to keep experimenting, and exploring with clear goals and continuous practices to bridge the difference; understand problems holistically and solve them creatively.
Intrapreneurship: Intrapreneurship is about discovering the new path for business growth by taking entrepreneurship activities. Practicing intrapreneurship is about creating the future via learning, experimenting, and innovating. Intrapreneurship in large enterprises needs to strike the right balance between stability and growth, process and creativity; standardization and personalization, etc. Intrapreneurship activities are crucial for moving business up to the growth trajectory. Practicing intrapreneurship also means the enterprise should go smarter and more flexible, with the right dose of risk tolerance and high risk intelligence to convert a problem into an opportunity and manage it effectively to accelerate business growth.
Entrepreneurship/intrapreneurship investment is a complex commercial activity. Businesses have limited resources and budgets, it is important to invest wisely, articulate what the pros and cons of each investment option are for today and the proposed tomorrow, estimate risks, make smart investments by capturing the emerging trends, identifying the right opportunities to invest, set proper goals and metrics to calculate, and improve return on investment.
Innovation process & process innovation: Innovation is not serendipitous, it is a process that can be managed effectively. Innovation management is not just about generating fresh ideas, but rather, the processes to take ideas for generating value structurally. Innovation processes shouldn’t be too rigid to adapt; too fragile to handle disruptions, or too inside-out without embracing people centricities. There is transparency in follow-up of a system of the innovation process from the idea up to the implementation. Thus, innovation process design and modeling is an integral part of scientific innovation management.
Innovation process design and modeling is an integral part of scientific innovation management. The right level of guidance and process is important, but overly rigid processes or too pushy goals will create new bottlenecks and stifle innovation. With continuous innovation process improvements to improve business flexibility, sensitivity, and responsiveness, you can predict or manage risks, deal with uncertainty; develop a powerful idea pipeline, reduce costs and increase the innovation success rate.
Culture innovation: Being innovative is a state of mind. Culture of innovation is a collective mindset and a prerequisite to run a sustainable business these days. Creative culture is usually outward-looking rather than insular. Changing the culture is the mindset, although you can’t impose the desired culture to your organization. It’s critical to foster a culture of innovation across functional disciplines and embed innovation management mechanisms into the corporate DNA.
The culture of innovation isn’t built in a day, it takes open and bold leadership, long-term strategy, and robust processes and methodologies. Changing the culture is the mindset. If you want an innovative culture, establish the principles and practices to transform your culture. It’s important to recognize, empower innovators who can help the organization shape the culture of creativity and develop an open and optimal environment for innovation, encourage risk-taking, fail fast & forward, and learn from failures to innovate effectively.
Innovation governance: Often, innovation gets stifled in very large, mature organizations in which the management is more interested in protecting their positions and markets rather than innovating and generating new ones. Traditional governance discourages innovation. Governance needs to set a framework for innovation management, not for controlling, but for enabling. If innovation management is like the pedal to accelerate the speed of the business vehicle, then innovation governance is the steering wheel to ensuring the business is running in the right direction and improving innovation management effectiveness.
Leadership innovation: The organizational boundaries are blurred somehow, the purpose and effectiveness of innovation depend on the leadership attitude to drive innovation and its aptitude to manage innovation. However, many organizations that get stuck at the lower level of maturity are divided by so many gaps across leadership, management, and innovation, etc. Thus, developing creative leadership is essential to being successful in innovation management in today's business climate.
In order to bridge innovation gaps such as communication bottlenecks, silo processes, the weak links in management, it is imperative to articulate, explore, understand, and embrace innovative leadership for it to generate multifaceted value interdisciplinarily, build integral capabilities for leadership development. In order to run an innovative organization, leadership innovation is a prototype practice, organizations need to keep experimenting, and exploring with clear goals and continuous practices to bridge the difference; understand problems holistically and solve them creatively.
Intrapreneurship: Intrapreneurship is about discovering the new path for business growth by taking entrepreneurship activities. Practicing intrapreneurship is about creating the future via learning, experimenting, and innovating. Intrapreneurship in large enterprises needs to strike the right balance between stability and growth, process and creativity; standardization and personalization, etc. Intrapreneurship activities are crucial for moving business up to the growth trajectory. Practicing intrapreneurship also means the enterprise should go smarter and more flexible, with the right dose of risk tolerance and high risk intelligence to convert a problem into an opportunity and manage it effectively to accelerate business growth.
Entrepreneurship/intrapreneurship investment is a complex commercial activity. Businesses have limited resources and budgets, it is important to invest wisely, articulate what the pros and cons of each investment option are for today and the proposed tomorrow, estimate risks, make smart investments by capturing the emerging trends, identifying the right opportunities to invest, set proper goals and metrics to calculate, and improve return on investment.
Innovation process & process innovation: Innovation is not serendipitous, it is a process that can be managed effectively. Innovation management is not just about generating fresh ideas, but rather, the processes to take ideas for generating value structurally. Innovation processes shouldn’t be too rigid to adapt; too fragile to handle disruptions, or too inside-out without embracing people centricities. There is transparency in follow-up of a system of the innovation process from the idea up to the implementation. Thus, innovation process design and modeling is an integral part of scientific innovation management.
Innovation process design and modeling is an integral part of scientific innovation management. The right level of guidance and process is important, but overly rigid processes or too pushy goals will create new bottlenecks and stifle innovation. With continuous innovation process improvements to improve business flexibility, sensitivity, and responsiveness, you can predict or manage risks, deal with uncertainty; develop a powerful idea pipeline, reduce costs and increase the innovation success rate.
Culture innovation: Being innovative is a state of mind. Culture of innovation is a collective mindset and a prerequisite to run a sustainable business these days. Creative culture is usually outward-looking rather than insular. Changing the culture is the mindset, although you can’t impose the desired culture to your organization. It’s critical to foster a culture of innovation across functional disciplines and embed innovation management mechanisms into the corporate DNA.
The culture of innovation isn’t built in a day, it takes open and bold leadership, long-term strategy, and robust processes and methodologies. Changing the culture is the mindset. If you want an innovative culture, establish the principles and practices to transform your culture. It’s important to recognize, empower innovators who can help the organization shape the culture of creativity and develop an open and optimal environment for innovation, encourage risk-taking, fail fast & forward, and learn from failures to innovate effectively.
Innovation governance: Often, innovation gets stifled in very large, mature organizations in which the management is more interested in protecting their positions and markets rather than innovating and generating new ones. Traditional governance discourages innovation. Governance needs to set a framework for innovation management, not for controlling, but for enabling. If innovation management is like the pedal to accelerate the speed of the business vehicle, then innovation governance is the steering wheel to ensuring the business is running in the right direction and improving innovation management effectiveness.
To create innovation that has the ability to truly change the course, an organization needs innovators who can think out of the box and don't always constrain their thinking with the organizations’ current capability. Innovation cannot be separated from a specific business purpose and in a broad context, governance is critical for meaningful innovation. The leverage point is to let innovation shine via the effective governance discipline, but not adding too much complexity.
There are lots of important elements such as strategy, people, process, tools, and culture, etc, in innovation management. Missing any of them will severely decrease innovation effectiveness and influence the sustainability of an intentional innovation effort. Forward-looking companies shape competitive talent and teams, refine organizational design and structure, improve business excellence, and accelerate the speed of change.
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