Wednesday, May 31, 2023


It’s important to balance the art and science that goes back and forth between innovation capability design and integration.

Digital is the age of innovation, innovation is no longer “nice to have,” but “must have” unique business competency. However, companies have very limited budgets, resources. The realities of corporate life don't allow those companies to spend all their resources on radical innovation. 

Business management has to focus on learning-experimenting, and keep improving innovation competency.

Innovation management is an iterative innovation and standardization continuum: Innovation becomes more customer-centric; you need to hear what your customers and product specialists say the customers want. It’s important to empower customers, get them to choose the ideal solution for their work. 

Innovation teams should engage the end-users, let them make the decisions regarding what customized applications they would like to use; what application standards they wish to establish, what regulation rules they need to follow, and have the responsibility to streamline the application portfolio with the right mix of incremental innovation and radical innovation.

Innovation as a key strategic differentiator and the lifeblood of any business operation, and place it on top of a business management pyramid: There are so many things going on in the organization today. It is difficult to make the decisions in which order to do the changes and prioritize between changes. Innovation is the differentiated business competency to ensure organizations not only survive today, but also thrive to create a better future. So business management should set innovation as one of the top prioritized “to do” list of the business, with customer relationships and human capital in the middle, then operational excellence and at the base.

Innovation is not for its own sake, but to create value, benefit stakeholders of all stripes. The "right" answer about the highest strategy priority is that it depends on which of these areas are most in need of improvement in the organization in question. It’s crucial to embed prioritization mechanisms into the multitude of management to unlock performance and unleash business potential.

Open innovation is about ensuring that business has access to the maximum number of potentially good ideas for new innovative products:
In a field of activities and form its content as an innovation management discipline, open innovation is that the challenge is put out for anyone to apply or contribute. Open innovation can improve idea generation, increase interaction and increase learning. It always intends to produce knowledge that leads to some value for those involved. Therefore, it can be a good thing.

Open innovation can be either an incremental innovation or radical innovation. Radical innovation is out of the box thinking where incremental innovation is still inside the box thinking. Incremental innovation is what is used after the breakthrough to "touch" things up a bit, optimizing business processes to innovation implementation, and build a balanced portfolio/program management.

It’s important to balance the art and science that goes back and forth between innovation capability design and integration. The purpose of innovation categorization is not about siloing different management disciplines, but how to best link them together - focusing on core activities to develop innovation competency. It is important to leverage a systematic approach with robust processes and tools that generate winning concepts on a consistent basis to improve innovation excellence..


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