Friday, March 24, 2023

Innovation

Innovation context goes beyond the traditional scope, innovation competency needs to be built dynamically to accelerate performance and unleash creative potential.

Innovation has a broader spectrum with hybrid nature; it is hard to think of any innovation as not a hybrid, a combination of something old with something new or a number of new things.

 In organizations which are huge and complex, innovation management is not a standardized process, but a dynamic continuum; outlines, optimization, orchestration are all crucial to scale up innovation effect and improve innovation success rate.



Innovation & orchestration: The abundance of information and emerging technologies provide the opportunity to re-imagine the new possibilities, think of alternative ways to do things, and it gets really creative on how they orchestrate innovation. Companies today need to understand the dynamic competitive landscape, proactively look for ecosystem partners that can help to orchestrate innovation beyond functional or business borders. It is important to build an environment where people want to work, and get encouraged to think and do things differently.

People will dare to be innovative as long as they know they won’t get penalized for a bad idea, and they are able to leverage collaboration platforms to communicate, collaborate across the organizational boundaries. Innovation demonstrates the benefits to the ecosystem at a much faster rate with much broader impact in the digital era. In fact, in creating a people-centric organization as an outside-in" and socio-technical system, it is a question of re-inventing and re-engineering people, process, and technology to orchestrate an innovative ecosystem.

Innovation & outlines:
The world is becoming more hyper-connected and over-complex, the outlines of the innovative world can be sketched with its full color spectrum, diverse shapes and scopes. It's important to outline the strategic intent of innovation and frame the strategic planning to be understandable and implementable. The phenomenon of digital innovation is reaching the inflection point if the leadership is open, culture encourages creative problem-solving, and organizational boundaries are blurred, yet we are entering an even more rapid and extensive period of business innovation.

Innovation management takes a balancing act to have enough failure and an environment that encourages learning from failure quickly. A company really needs to exceed traditional boundaries. A strategy built around some clear value perspectives such as customer value which provides a basis for people-centric innovation management, creating the right environment and providing the processes and tools to support innovation.

Innovation & optimization: You cannot make an innovation paradigm shift without breaking some old rules, optimizing business processes, or updating outdated practices of innovation. Once a person understands that we all have different lenses, perceptions in the way we look at the world, it becomes easier to open our mind, and figure out innovative solutions. At the organizational level, business workforce optimization helps to gain predictive insight of talent demand, develop dynamic innovation capabilities.

Things get complicated very quickly, cost optimization and investments positively affect business innovation. Keep improving innovation excellence via system optimization, process streamlining, or cost optimization, etc. The robust process and tools that enable the business to generate winning concepts for innovation management on a consistent basis, is the prerequisite for sustaining business growth. Every organization needs to develop good innovation principles, optimize methodologies, and practices by leveraging effective technologies, tools, and apply them wisely with the expertise to really add value, and develop higher level innovation competency.

There are many areas within a company where the innovation process can be applied to create value. Innovation context goes beyond the traditional scope, innovation competency needs to be built dynamically to accelerate performance and unleash creative potential.



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