Highly innovative organizations embed innovation into every aspect of their organization and take spiral approaches to manage innovations successfully.
Organizations should develop a set of good innovation principles, methodologies, practices and apply them wisely with the expertise to accelerate innovation performance.
Innovation fluency means that individuals are self driven, think differently and solve problems alternatively: Knowledge abundance, fierce competitions and people-centricity drive innovation. The systematic structure of the organization provides the shell within which individuals can collaborate to create transparency to manage innovation. Innovation management is not just about a few spontaneous business initiatives, but needs to be managed systematically with a full cycle of “forming, storming, norming, performing, and transforming.” However, these “digital storms” do not happen in isolation from each other in predictable ways. They act in a complex and unpredictable way. So, innovation managers need to ponder: how to well prepare for them and reap significant business benefits through them? The less friction between the changes and the more seamless business interactions enable idea flow and accelerate business performance and growth.
Innovation management takes a balancing act to have enough failure and build an environment that encourages learning from failure quickly and cheaply: The success of innovation management is never a serendipity; it is a thought-out planning and seamless execution. A healthy innovation portfolio has a right mix of incremental and radical innovations. Recognize that many small innovations will collectively outweigh one or few large innovations. At the age of digitization, experiments on innovation, delivering a result at the first-time situation will be more frequent than ever. Failure is part of innovation; but fail fast and forward without having failures that are too frequent or too expensive
A defined structure is essential to managing innovation in a corporation, but there's no single structure that will work in every organization. It is preferable to relying on individuals and groups to overcome the hurdles of existing within a structure that inherently is not designed for innovation. It’s important to orchestrate an organization, that is a sociotechnical system to digitally connect key resources and assets in their vicinity, context and build the resource-rich innovation hubs or clusters across the business ecosystem to nurture creativity.
Differentiation between incremental and breakthrough innovation relates to the degree to which a particular innovation changes the competitive landscape, potentially making entire industries obsolete. You need new technology, new processes, new customers, new knowledge may be a new business model. All that makes them very risky but on the other hand, you will get very great chances and opportunities for innovation breakthroughs, and accelerate innovation performance significantly.
Highly innovative organizations embed innovation into every aspect of their organization and take spiral approaches to manage innovations successfully. Besides the art of creative ideas, innovation is a scientific process which can be managed systematically. Organizations have to keep fine-tuning the process to make idea flows, and improve the success rate of innovation
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