Wednesday, December 28, 2022

Innovation

It’s important to architect, reimagine, and co-develop an innovative society via an expanded lens and hold on to a strong belief that collective progress leads to leapfrogging societal advancement.

Innovation happens at the intersection point of people and technology, business and customers, transforming great ideas to generate value. There are many key factors that lead to the success of innovations; it is imperative to sharpen them and build innovation as the core business capability. 

With rapid change and continuous disruption, building an innovative organization or society is not an overnight phenomenon, but a long-term planning and dedicated effort to make differences

It is about creating an anticipatory design for improving innovation excellence
: The construct of a design-driven innovation system allows open-minded brainstorming, creates space for open dialogues and design brainstorming, develops a common understanding of innovation effort, creates the necessity and motivation for it. One of the important steps in anticipatory design is to get the management buy in. The structural design innovations most often require design teams to attend to the total system of valued product interactions and related opportunities for creating new design features that enable unique value creation across the wide-ranges of current and new product interactions.

Organizations become more people-centric, and products or services turn to be more personalized. So, the purpose itself is a multidimensional system. It has emergent properties that help to deal with future possibilities for innovation. For innovative organizations, good design best meets the needs of many. However, it becomes the 'ideology du jour' to those that do not continue to inquire as to the 'fit' of the level of thinking with dynamic system context. Design work has different stages of maturity, from design-by-default, in which design just happens to design –by-practice in which design becomes a strategic business activity and management practice.

Business leaders as innovation integrators can practice “structural leadership”; unleash innovation potential of the organization: Innovation becomes more complex, requiring interdisciplinary expertise and cross functional collaboration. Integration is a critical step in optimizing business processes/capabilities/capacities for developing a set of differentiated and dynamic innovation competency. An effective innovation integration team composed of interdisciplinary experts as insightful “integrators” help their organization explore information-based innovation potential in a structural way.

Organizations have limited resources/talent; it’s critical to integrate their business innovation capacity in order to balance business stability and growth, build new capability, and achieve innovative forms of competitive advantage given path dependencies and market positions. The right leadership structure is the one that allows the right mentality and innovative culture to bloom. Innovative leaders play structural leadership via deepening understanding of interfaces and interactions associated with complex businesses, making effective decisions in developing innovation capability, and manifesting connection, caring, trust-building and influence to accomplish strategic business goals.

It’s important to begin thinking about ways for orchestrating innovation ecosystems: Business ecosystem orchestration is accelerated to the hyper-connected digital world. The real challenge is to understand where and how you can and should improve to get the biggest effect and scale-up across the digital ecosystem effortlessly. There are many factors impacting innovation effectiveness such as leadership, culture, capability, practices, tools, recognition system measurements, risk approach. Each component by itself may not cause a good environment, but collectively, they can weave a strong innovation ecosystem.

Digital world has become increasingly complex in nature; an innovation ecosystem should fully cover a wide enough direction, and organizations are combining all that is available to them in imaginative, adventurous ways. With ecosystem involvement, companies will become more open to diverse opinions and feedback, people become the center of innovation management and they are the major focus for innovation process and accomplishment; businesses become more resilient to failure forward.

Highly collaborative organizations are more productive, competitive, and innovative in solving difficult business problems effortlessly. Innovation needs to lay out different structures, thinking and solutions to allow this to develop in its potential. It’s important to architect, reimagine, and co-develop an innovative society via an expanded lens and hold on to a strong belief that collective progress leads to leapfrogging societal advancement.

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