The world becomes more dynamic, innovation is for renewal, whether for developing new products, services, solutions; it is equivalent to sustainability and resilience for an increasing number of hyper-connected enterprises and industries.
Organizations today strike the right balance between increasing productivity and encouraging innovation; between setting the standard and advocating personalization; between taking the industry best practices and developing next practices. The clear goals for innovation management should focus on betterment, forwarding, and upward improvement.
Innovation capability of the business is built through the alignment of people, process, technology, culture: People should be the center of innovation management and they are the major focus for the innovation process and accomplishment. People-centric innovation means that you have to involve customers and different stakeholders, listen to their feedback, gain insight and empathy, take different propositions, and involve them in both idea generation and implementation. Innovation is a management process with the full cycle of “Forming, Storming, Norming, Performing, and Transforming.”
Innovation has to become your business routine, corporate culture to renew creativity energy. You have to live it and breathe it every day, otherwise, you would feel stuck. If you are creative, you will break through the conventional wisdom and push toward the path few people take. It’s important to harness cross boundary communication and collaboration. Innovative conversations perhaps do not directly provide you with the solutions but offer you a fresh insight into innovation goals, processes, new interpretation of existing issues with knowledge context and build a high-innovative organization.
An organization that has a lightweight process which allows creativity and innovation to flow, get cultivated will become more successful: It is critical to create an open space to keep ideas flowing; innovation processes could be very loose on purpose; but structural enough to transform ideas for achieving their commercial business values; seek a balance of influence with interdisciplines to effectively add value to accelerate organizational performance. It’s important to make innovation processes as visible, viable, and vigilant as possible, otherwise, silos generate redundancy, create frictions, and cause delay in innovation management significantly.
It’s excellent to build an open, hyper-connected and innovative working environment in which people are inspired to be authentic, discover their talent and continue to build their professional strength and produce high performance results consistently. You need to structure the creative process, integral, but not overly rigid. People need to keep exploring their creative potential, broadening their perspectives and developing their interdisciplinary expertise, building, integrating, and reconfiguring their professional competencies.
An innovative organization can handle innovation streams for different purposes and with different time frames, with the goal to build a healthy innovation portfolio for achieving expected performance. Normally organizations look for key performance indicators for measuring business results generated by innovation efforts. But keep in mind, compared to other types of business initiatives, innovation has more variables, takes unconventional approaches. Both quick win and long-term return on investment for innovation are crucial, do not sacrifice the long-term viability of the portfolio for only short-term rewards, and maintain a balance between business exploration and exploitation.
The world becomes more dynamic, innovation is for renewal, whether for developing new products, services, solutions; it is equivalent to sustainability and resilience for an increasing number of hyper-connected enterprises and industries. The evolution of innovation only exists in the more open environments that create insights, take advantage of all sources of creativity in an open way and leap innovation management to the next level of organizational maturity.
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