Sunday, May 14, 2023

Innovation

 Innovation becomes “creating value by solving simple or complex problems.” 

Innovativeness is a mindset to think things differently and come up with abundant ideas. Understanding innovation management is multifaceted, to break down silos of thoughts and traditional management practice. 

Creative leadership, cross-functional communication, collaboration, transparency, etc, are the keys to harness innovation. 

Innovation & foundation: Innovation is not serendipity, but a process which can be managed. The foundation of innovation success is effective processes and talented people. To provide innovation structures on top of the foundations, leaders must translate guiding ideas into business decisions by thoughtfully crafting an organization’s policy, strategy, and practices for building innovation competency..

There are numerous obstacles in innovation management. To lead innovation solidly, present vision in a new synthesis by identifying the gaps that you are facing or will be facing tomorrow. You can't expect an individual to fully develop such broad-based concepts, always listen and deepen understanding by imagining what it could feel like, and acknowledging that experience. It’s important to embrace the holistic ecosystem view of innovation capability development, and accelerate innovation performance.

Innovation & organic: Organic innovation management is about catching the rising tide of business or industrial trends, identifying the space of opportunities, preventing risks, for growing the business organically. Organic innovation is not serendipity, but an interdisciplinary management approach which covers information mining, entrepreneurship, technology transfer, process optimization, etc. If the organization is like the plant, the more fertile the soil, the better nourishment the plant will be, and there are better opportunities to nurture organic innovations which keep evolving and renewing to achieve the state of dynamic balance.

An organic organization has business attributes such as flexibility, responsiveness, engagement, interactive relationship, resilience, etc. It’s critical to develop an organizational environment that creates a positive vibe, and facilitates creativity, allowing ideas to flow, channeled and nurtured constantly. An organic organization with systematic characteristics is able to break away from static, stale, and slow patterns, and be able to make continuous adjustment, keep evolving, and innovate, providing the creative workplace for people to exercise their talent and unlock their potential.

Innovation & Gauge:
You can only manage what you measure, so does innovation. It's crucial to leverage effective tools such as a balanced scorecard, put all things in context, gain holistic perspectives, take a systematic approach, and set measurements to gauge innovation effectiveness. However, many managers or professionals today still apply silo mindsets to new ways of organizing, creating a multitude of gaps (motivational gaps, resource/asset/talent gaps, etc.) for innovation management. The employee ownership drives a fluid process more than before to keep learning, growing and mature professionally.

People want to be empowered to make achievements based on their talent and professional competencies. In many cases, the employee innovation index is actually a weighted index reflecting several underlying metrics. Take feedback to build your own measurement system; make an assessment of employee engagement, creativity, meaning associated with their work, flexibility, career growth and freedom.

Innovation becomes “creating value by solving simple or complex problems.” The importance of innovation has increased as the business has the pressure to get more and better innovation. And high-innovative organizations can fine-tune innovation management as a differentiated business capability and master innovation in a structural way.

1 comments:

This is a really helpful post. Thank you very much for sharing it for me and everyone to know.

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