Innovation

Innovation comes in different flavors and there are many opportunities in an enterprise to manage it effectively.

The organization is more like the organic living thing with its unique identity and strength; they should become more open to diverse viewpoints, connect the wider dots in the interdisciplinary domains, look for alternative ways to do things, take the unique path to innovate, and fill their innovation toolbox with the customized process, platforms, practices,, and metrics for improving innovation management excellence.

Innovation is done by people and for the people: A good innovation is empowered by the latest digital technologies today, organizations can set up the appropriately configured innovation platform which creates a scalable means for sharing and building ideas throughout the enterprise. Innovation is a manifestation of a unique trait in some people who consciously or unconsciously strive to do better through changes, and take alternative approaches.

Creative people are in demand to catalyze a culture of innovation in the workplace. For those who are trying to solve problems, they can find the problems evolving as they try different solutions. Sustainable innovation means product and service need to be improved via continuous conversation and collaboration, deal with the diversity of thoughts, ride above the learning curve, build a set of differentiated business capabilities coherently.

Innovation is a good mix of art and science; innovation science is rather more a complex of rules, practices, and examples: What defines the science from chance is the ability to repeat a process with the same resultant solution every time. The science is "the ability to produce solutions in a problem domain repeatedly" through the application of known facts. Companies can be more successful in executing innovative ideas by following scientific principles, relying less on silo function, and more on their cross-functional collaboration, performance management.

Innovation provides the opportunity to think of a new way to do things, it forces business leaders to get really creative on how they implement different flavors of innovations. By practicing the scientific discipline, innovation management effort can significantly amplify its effect and renew the creative energy of the business.

Flexibility is important to make proper adjustments for improving innovation performance: The process of planned innovation shouldn’t be too rigid, the chaos to some extent is necessary for sparking fresh ideas and enforcing flexibility. Different types of innovation should be managed via personalized management processes, talent, and approach.

To break through the idea management bottleneck, innovation management needs to clarify: Can you learn some innovative ideas across the industrial border? Can you also learn what the trend of such a new idea is? Can you identify important technology trends, including potential next-generation innovation waves? Can you recognize the key players who are involved in innovation development? Can you classify the components or operations of ideas, what can interact with ideas, and what parameters the innovative ideas might have? Who else is using such new ideas? It’s crucial to optimize budget and resources, build a balanced innovation portfolio with the right mix of incremental innovation and breakthrough innovation.

Innovation comes in different flavors and there are many opportunities in an enterprise to manage it effectively. A disciplined innovation approach focuses on commercially relevant compounds innovation management which are driven by clear strategic goals, risk management, as well as integral and interdisciplinary process management.

Posted in: Business Process Management,Innovation