Innovation

Good innovation shouldn’t be just the serendipity; and failed innovation needs to become a learning lesson.

Every organization should strive to explore opportunities for innovation throughout their organization. These innovation practices might be different across organizations, across departments, and affiliates within an organization and can change over time. In fact, they should change and evolve over time. 

Generally speaking, innovation has a very low success rate. Whatever the activity, there is one best way of performing it; one way that uses the least resources takes the least time and still meets quality standards. But innovation is not just a quality thing, it takes a lot of experimenting, risks, developing the next practices for creating unique value smoothly.

Innovation management in today’s business world has become increasingly complex in nature: It’s always important to explore innovation practices that help to empower people, enforce iterative communication, and harness cross-functional collaboration to produce better business results and unleash the full digital potential of the organization consistently.

Traditional hierarchical lines will phase out and a collective of business partners will emerge working collaboratively to set strategy, and co-achieve innovation goals .If the innovation initiatives you want to adopt are to be implemented in the same context, it could work. It actually leads to a better solution for your environment; otherwise, it would create fricions, cause distraction, as people feel frustrated if they cannot produce the expected result.

Innovation is the interdisciplinary discipline to optimize business or increase revenue: Every organization needs to develop customized innovation practices via leveraging effective tools or methodologies and use them effectively with the expertise to really add value or drive innovation. Every scientific innovation initiative today needs to be information-enriched, people-centric. It’s always important to harness innovative leadership, bridge gaps, fertilize growth, and empower innovators.

Individually or collectively, you need to have the level of intellectual curiosity, desire to learn, observe, gain interdisciplinary knowledge, practice creative thinking and explore alternative solutions. It is also important to build a motivational environment with less overly rigid rules, creativity is encouraged, and the next innovation practices" continue to emerge.

Initiative people centricity innovation: People-centric innovation management capability is built via the top executive's generous sponsorship, the middle-management dedicated execution, and the bottom line employees’ dedicated support. One of the key determinants of whether an organization can move up to the next level of innovation maturity is the development level of the people-do they have the right dose of risk appetite, can they think critically and do things differently?

In practice, it’s not easy to bring all talented people and mold them into an effective innovation team, and build a flexible work environment to harness innovation. The goal of workforce engagement is to encourage independent thinking, inspire creativity, and inspire innovative problem-solving. People Management is an important process that underpins the organization’s innovation competency to accelerate performance.

More and more organizations are learning and implementing next practices in innovation. Good innovation shouldn’t be just the serendipity; and failed innovation needs to become a learning lesson. Highly innovative organizations can build differentiated innovation competency and drive breakthrough changes.The goal of disciplined innovation management is to stay focused and improve the innovation success rate.

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