Monday, May 29, 2023

Innovation

Innovation is costly most of the time, that is why you should really concentrate innovation on the main issues of your strategy- intensify innovation with focus.

In today's modern organizations, complexity, diversification, and collaboration are the characteristics of the innovation ecosystem. Innovation is similar to "the sum is larger than its parts." It is the practice through which you grow and evolve something to something great. 

Organizations are at the different stages of business maturity, they should meet their business needs and take a logical approach to build their organizational innovation strength.

Innovation via outside-in collective, intensive creativity: Due to the fact that innovating in today’s world has become increasingly complex in nature, it’s usually a collaborative effort with intensity of association, engagement, involvement and commitment to catalyze innovation. There are frictions or conflicts existing in human interactions. When the engagement is low, performance suffers. Innovative organizations proactively develop the information-savvy and resource-rich innovation hubs and hyperconnected clusters across enterprise ecosystems for enabling idea flow and creating synergy to growth.

The boundaries are not sharp lines, they are fluid and cursive to streamline information and idea flow. Large companies have more rigid rules, structure, processes, budget control, they are much better at incremental innovation than at radical innovation. The smaller business can also gain economies of scale of innovation through cross boundary communication and collaboration. Organizations need to invest in the cultivation of capacity for innovation and recognize innovators with varying strengths. They should continue to invest in the cultivation of capacity for innovation and recognize innovators with varying strengths.

Innovation is intensified via complexity syndromes and the cause-effect scenario: Intensive innovations do not happen in isolation, but act as a complex system feeding, amplifying and ameliorating the effects. In business, complexity both drives innovation and also hinders it. When a business becomes overly complex and people get frustrated by not being able to accomplish things easily, they search for simpler concepts and creative methods, which is the purpose behind innovative initiatives.

Innovating in today’s digital world has become increasingly complex in nature. Because there are different levels of capabilities, complementary experiences, spectrum of skills, unique competencies, cultural perspectives, and personalities. Innovation is not for its own sake, but to solve problems. Therefore, identifying the right problems, clarify-cause-effect, brainstorm different solutions, and ensure that interdependencies and loyalties between business partners are taken into account and build up a strong innovative ecosystem with harmony.

Increasing intensity of innovation influences the pace of organizational transformation:
Breaking assumptions, having more assumptions uncovered will lead to greater innovation. Innovation will happen when people are given free space to be creative without rigid structures and without holding them back. Respect your audience's cognitive diversity and professional interest, and try to send the message which appeals to them. In a creative environment, people are encouraged to become independent thinkers, search for fresh ideas, better solutions, to take innovative initiatives and make significant influence.

When boundaries are more permeable, it usually streamlines information flow and leads to faster decision making, easier idea access from people anywhere in the organization. Innovation management is an ongoing business continuum with multi-stepped processes that include both innovation resolution and management disciplines. The reiteration of the requirements development process is essential to arriving at the real requirements to keep the business innovation initiative moving forward, cultivate the culture of innovation and unleash business potential smoothly.

The world becomes more dynamic, change is for renewal; innovation is for renewal; incremental innovation improves business performance in many perspectives; breakthrough innovation is often disruptive and will change your organization or even the industry in many fields. It brings something that did not exist before at all. Innovation is costly most of the time, that is why you should really concentrate innovation on the main issues of your strategy- intensify innovation with focus.


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