Innovation

Reinventing people’s innovative mindset and building differentiated innovation competency of business raise different "learning" issues that organizations must deal with smoothly.

In the rapidly evolving businesses and complex economic systems, innovation is one of the core activities of business revolution and collective human progress. Companies should explore the emerging horizon and ride steep innovation curves confidently.

 The evolution of innovation only exists in more open environments or the ecosystem that creates insight, takes advantage of all sources of creativity in an open way and makes a leap of innovation management to the next level of excellence.

Oversight of innovation management helps to criticize innovation strategy: Innovation management system includes policies, structures, and programs that innovation managers can use to drive innovation, set the guidelines for both innovation management and management innovation, identify innovation management bottlenecks, de-bureaucratize process, derisk innovation implementation, and scale innovation effect systematically. Innovation leaders create the space for dialogues and debates about innovation, close innovation strategy gaps, develop a common understanding of it, and generate the necessity and motivation for innovation to blossom.

Innovation management oversight helps to tie innovations and the innovative culture to the organization's strategy. There are different innovation bottlenecks such as idea management bottleneck, process bottleneck, resource bottleneck, execution bottleneck, or talent bottleneck, etc. Innovation leaders should provide oversight on how to de-risk the introduction of innovation into the marketplace, establish clear proofs-of-concept before making the investment to launch and scale, build a healthy innovation portfolio, and ensure that innovations will be supported by management and by all stakeholders.

Objectivity harnesses innovation as you need to understand things from a broader perspective to connect more relevant dots: Being objective really means you will always see the two sides of a coin, listen to the stories from different perspectives; and understand things via interdisciplinary perspectives. A part of objectivity includes critical thinking, self-criticism and the ability to be open and flexible to new ways of thinking. So you are able to spur creativity and deal with problems innovatively.

Relative objectivity is a continual process in which you skirt the edge of what is possible. It is important to be objective and gain a different view, have a better understanding of certain topics or problems that may occur. You can remove the “old box” shaped via the conventional wisdom or group thinking, Practice critical thinking or understand issues in an out-of-box way. bridge insight gaps, and harness innovation.

Outlook of business context and ecosystem helps to connect the wider dots to innovate, encouraging broader base collaboration: Hyper-connectivity can foster innovation through wide-based collaboration. Try to connect key resources, assets in their vicinity and context to the resource-rich innovation hubs or clusters across the business ecosystem. Business leaders and professionals need to be comfortable with “VUCA” reality, broaden their outlook, envision the bigger picture, be conscious of the learning curves, and build innovation competency.

Organizations can leverage business architecture as an innovation framework to gain contextual business knowledge, capture a holistic outlook of organizational structures, principles, practices, information, process, capability, and performance, Thereby facilitating the planning and communicating of business innovation initiatives, keeping the end in mind in order to improve innovation success.

Being innovative is a growth mindset and a proactive attitude. Create a dynamic, expansive, and interdependent methodological environment with a set of multifaceted practices to catalyze innovation. Reinventing people’s innovative mindset and building differentiated innovation competency of business raise different "learning" issues that organizations must deal with smoothly. It is important to involve not only putting different pieces together but also blending them in such a way that generates novel ideas and stimulates innovation.

Posted in: Innovation