Innovation

Innovation management should be refined to the point that it can adapt to changing business demands in a timely fashion.

The company's reputation and success today are founded on innovation and to a very large extent, the most invaluable asset of the business is talented people, especially innovators. Innovation initiatives demand insight, patience, persistence, and courage, among other things.

Because how an organization orchestrates to generate ideas, manages creative activities, measures the results, etc, is determined by how that organization has decided to manage innovation efforts in a structural way.

It is important to capture the rising trends and take advantage of changes in the external environment to spur innovation: An organization should lead the way to lift one foot and shift the organization more into participative models that better support accelerated speed. In brilliantly imagining the business models of tomorrow while architecting the ability to succeed in the missions and business models of today; organizations are able to reach the new growth trajectories.

Pay attention to get the clear signal for the right timing to innovate, in order to grasp the opportunity for moving faster. Also, be cautious about the pitfalls on the way. A recognition system and high visibility for all positive contributions will help in creating a culture of innovation, encourage people to participate in creative activities and improve employee engagement for reaping innovation benefits.

In order to refine an effective innovation management process, there is a need to delegate roles and responsibilities, and have a strong honest communication plan in place: Innovation is risky, there are lots of success factors involved. Try to determine which of these "missing things" are responsible for your uneasiness. Make each individual feel responsible for the success of the innovation strategy, engage them actively and make sure that your new change proposal solves their current problems, and provides a creative working environment in which people are encouraged to think and act differently.

Organizations and their people learn through their interactions with the environment; communicate across functionally and collaborate to realize great ideas for unlocking business potentiality. Determine what it would take for you to feel satisfied with your accomplishment. Transparency in follow-up of a system of the innovation process from the idea up to implementation as giving feedback and recognition are so important to catalyze innovation.

Information savvy businesses can make conscious business choices seamlessly, and manage risks effectively: Innovation has a very low success rate to fruity. The conflicts of priorities and silos will continue to hinder progress. And, don’t forget to drill down the priorities into all of the business units so they can be aligned to business purpose through workflow, technology/systems, people, measurement in structural innovation management.

Running a modern business is not just about crunching numbers, it’s important to harness an in-depth understanding of innovation management, clarify critical issues, and major concerns, make the right choice and manage risk effectively. It is possible to see what enables a self-adaptive organism is an information-driven process feeding and sustaining it to reap innovation. Positive attitude, great preparation, vision, intuition, perseverance and the ability to work hard are all crucial factors to unlock innovation performance.

Innovation management should be refined to the point that it can adapt to changing business demands in a timely fashion; it can be adjusted to meet the business priority, and be effective with the little down curve, to improve the overall success rate of goal-driven innovation. Organizational leaders' commitment must be clearly and completely communicated for engagement of all stakeholders in order to improve organizational information fluency, agility, innovation capacity and resilience.

Posted in: Innovation