Innovation is what leads to differentiation. Innovation today has a broader spectrum, hybrid nature, and deep context.
So innovation management will have to capture the emerging trends, catch up to the business needs with digital speed. The essence of innovation is made of trying new combinations of known things, blending different things to create something novel. It's the essence of human society's evolution.
If needed, repurpose, realign and reconfigure well-designed components to catalyze innovation: The purpose itself is multidimensional, to keep the business firm, think of the quality of organizations. In face of fierce competitions or technological/marketing disruptions, purpose can be revised or expanded to fit for the emerging events or drive desired changes. To continually fit for the purpose, organizations should make proper adjustments to the changing environment, and unlock business potential fluently.
Many companies get stuck at the lower level of the organizational maturity with the symptoms such as redundant processes, dysfunctional management, inflexible structure, misaligned resources, change inertia, etc. To make the business more purpose driven or upgrade the business with repurpose, realign and reconfigure well-designed components to develop innovation capabilities for enabling organizations to fulfill their strategy ultimately.
Reflection has not gone away but has undergone refinement and formalization: We are all new combinations of the known, with the brainpower to discover unknowns. The process of reflection is the foundation of learning, growth, improvement, and innovation. Stepping out of the routine transactional activities for a while, and reimagining the new possibility. Reflection provides clarity, deep understanding, giving you directional opportunities for personal growth, and helping to develop creativity, individually or collectively.
Organizations that ignore incubation time and reflection often fail when attempting innovation. It is highly important that people reflect in a constructive manner how anything could be done in a different way. It requires much more time, energy, passion, courage, experimentation, retreat to get clear and focused on the innovative idea, business model, process or solution, and to then enact, embody and execute in a disciplined way.
Reputation and brand protection become increasingly intertwined and crucial: Innovation is risky, every staff has responsibility for their own reputation and corporate reputation; but sometimes reputation goes beyond their control. The management needs to clarify what the brand stands for, what their reputation looks like, how the company wants its stakeholders to see and perceive the brand name and the connotation it wants its stakeholders to associate to- innovator or a stabilizer, a niche player or a standardizer, etc. Business management should take seriously about their reputation, have intention to build a strong brand,
Innovation shouldn’t be serendipity. It is about figuring out the best ways to do things. Organizations take seriously about doing things differently, providing customized solutions. They need to take calculated risks, pay more attention to their reputation, develop a consistent brand name for engaging employees and delight customers.
Innovation is what leads to differentiation. Innovation today has a broader spectrum, hybrid nature, and deep context. There are many ways to differentiate and, therefore, there are many ways to do innovation. A good innovation shouldn’t be just the serendipity; and a bad innovation needs to become a learning lesson. Innovation is a unique business competency to generate value constantly.
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