Thursday, March 23, 2023

Innovation

High-innovative organizations can fine-tune innovation management as a unique business competency and master innovation in a structural way.

Organizations are different; they have different cultures; they have different structures; they compete in different markets - they have a different scale. In short, every organization is at a different level of business maturity. It has its own struggles and conflicts. What’s “best” yesterday will not always be the best tomorrow. 

Forward-looking organizations have visionary leadership, highly trustful, collaborative workforce, culture of innovation, optimized business processes, technologies, and capabilities to improve innovation competency.

Innovation is a nonlinear process much akin to evolution: Innovations are not something everyone can accomplish. It’s important to highlight the benefits of interaction, and those interactions can be nonlinear, technical, informational, or human. The degree of business responsiveness and innovativeness depends on how business subsystems interact with each other, and see innovation as a complex adaptive system with nonlinear processes. Understand the value of placing ideas into an environment of interaction, collaboration in which they can be tested and have the opportunity to evolve.

Interaction is critical in every step of innovation management from creating a solid vision to sharing knowledge and wisdom to acting the way following well-set principles, and doing it consistently. Innovation managers should create a sense of urgency to stretch up, have a bigger innovation appetite, and take the time to ride the innovation curve, scale up innovation and amplify innovation impact.

It’s the reciprocity that sets the tone of culture of trust and creativity: Innovation is a manifestation of a unique trait in some people who strive to do things differently through changes. People and organizations are becoming more interdependent with each other. Reciprocity helps two or more parties to respond to each other and build trustful relationships in a more interactive way. It’s important to build a working environment in which different stakeholders can find their role in initiating empathetic communications, engaging in creative activities proactively. All the members are working towards common goals and objectives to lead innovation, with a passionate desire to see the organization succeed.

It's trust that is the key determinant of any collaborative effort for catalyzing innovation. The evolution of innovation only exists in the more open environments that create insights, take advantage of all sources of creativity in a more open way. The essence of innovation is made of trying new combinations of known things. Highly collaborative organizations develop complementary teams in which every team member can learn from each other, listening and telling; giving and receiving, building reciprocal relationships to improve innovation performance.

Innovators are in demand to catalyze a culture of innovation in the workplace and play “innovation magic” effortlessly: Bridging innovation gaps is a strategic imperative for business execution. The shareholders who highly value innovation would value organizations with bigger innovation appetite and devote more resources towards future breakthrough innovation. Highly innovative organizations are better equipped to manage innovation by allocating time and resources to the people in charge. It is invaluable for different functions to know what's going on in each other's space and why; it is worth the effort to break down silos, get out of comfort zone, and prepare the future proactively, in order for individuals and businesses to reach innovation management maturity.

There are many areas within a company where the innovation process can be applied to create value. The broader the scope, scale, and impact of the innovation, the more one leans towards calling such innovation evolutionary and sustainable. Communication has to be customized from general management background to technical background employees. Different shareholders get involved in various business activities and play significant roles in catalyzing innovation and exploring multiple pathways for unlocking innovation potential.

The importance of innovation has increased as the business has the pressure to get more and better innovation. High-innovative organizations can fine-tune innovation management as a unique business competency and master innovation in a structural way.

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