Wednesday, January 25, 2023

Innovation

The best point of view is to see innovation as a system, capable of integrating different ingredients into differentiated business competency for producing great products/services and achieving high performance results.

In the world with blurred territories and information abundance, business innovation today is more often the interdisciplinary management discipline. 


In fact, we see much more innovation in more and more areas of the business landscape as a result of an increasingly well-educated population across the globe, companies across industries or geographies work together in a hyper-connected and continuously converging environment that provides structural innovation and reinvent an innovative society with people-centricity.

Being innovative is a growth mindset and a proactive attitude leading us to produce novel ideas and take alternative approaches: You cannot wait for something to happen, keep curious, always think profoundly, learn new things, and acquire new capabilities. The more consciously we grow, the more aligned we become with our intuition, the more chance we can identify patterns and make unusual connections to generate fresh ideas and fresh insight.

Creativity can manifest in a collective environment, and innovation can be scaled and multiplied collectively. Being innovative is a state of mind to break down conventional thinking or common belief, spur creative ideas and make breakthrough changes. You bring a different twist to what is currently perceived or established. While the individual contributions provide the 'building block' of innovativeness, it is the collective consensus on what to do with them that is exciting to advance human society.

Be it products/processes/services innovation, customers must be willing to pay for it: One of the key determinants of whether an organization can move to the digital new normal is how well it can delight customers. And business creativity is to apply creative thinking for problem-solving and achieving business goals. Organizations need to get deeply immersed in designing, developing, and delivering innovative products, services or solutions to make their customers happier and people smarter.

In practice, customer-centric innovation means that you have to involve customers and different stakeholders, listen to their opinions, involve them in both idea generation and process implementation, to gain insight and empathy, to take different propositions and approaches to a problem. Focusing on customers' needs should be an easier path to grow the innovation fruit by collecting feedback, brainstorming and gaining new ideas, implementing the best ideas to generate value, and delight customers with consistency.

An enriched innovation ecosystem enables systematic innovation management: It starts with an innovation strategy defining "WHAT does the organization innovate" or "where should it innovate" to support the overall strategy. Innovation is no longer nice to have, but a “must have” strategic capability of the business. The leverage point is to structure innovation to keep focus, but not adding too much complexity; orchestrate an information fluid ecosystem in which companies can build alliances to co-solve problems innovatively.

The digital aims of organizations are to take the holistic approach to problem-solving and build an innovation ecosystem for thriving. This is the degree to which an innovation is perceived as being consistent with the values. Technically, the innovation ecosystem or the methodological environment should cover the whole innovation process, from processes in managing ideas or idea handling systems to idea implementation and promotion.

Nowadays, innovation is complex, having enriched knowledge or versatile talent is foundational to create more fresh ideas in today’s sophisticated digital world, The best point of view is to see innovation as a system, capable of integrating different ingredients into differentiated business competency for producing great products/services and achieving high performance results.

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