Innovation

It takes an amazingly strong strength to manage innovation; It takes a great deal of effort to glue up all crucial ingredients into differentiated innovation competency.

Innovation is simply about thinking differently; doing things alternatively. Different organizations have their own “innovation strength”; relying more on its managerial capabilities to select and assimilate innovations.

Contemporary companies keep exploring hidden opportunities to innovate via pondering: What do we consider "innovation" and what have we implemented that we would consider innovation, what's out there to improve it, what will the business benefits of doing it.

Unless thinking is put into actions that result in positive outcomes, the subtleties of the innovation definitions become static: Our mind evolves different dimensions of thinking, there are both cognition and emotion involved in generating meaningful thoughts. It’s important to craft mindsets with thinking processes that hold onto its natural connectivity to generate fresh ideas. The multitude of thought processes and emotions creates a kind of vibration, instilling enthusiasm, energy, and optimism to stimulate creativity. Unless actions are taken to implement great ideas and generate value from them, thoughts are just thoughts, innovation could only be a lip service.

It is often true that unless there is a disruption, people very rarely move out of their comfort zone. Innovators present creatively disruptive traits, disrupt old ways, and inspire better ways to do things. In the silo settings, people often have to follow overly restricted rules or algorithms in the workplace which diminishes creativity. They are unable or unwilling to think out of the box and freeze when they have to face a challenge that is out of the norm. Organizations should be designed to harness innovation, drawing on the thinking and creative skills of everybody involved and affected. As a result, innovation becomes a persistent, shared reality, across silos and geographies for generating value successfully.

Unless the basic components are in place, then there is the serious risk of innovation: To keep up with today's change and market disruption, catalyzing innovation requires agility, resourcefulness, and resilience. That requires the right people-innovators, change agents, effective processes, and productive tools fine tuned to make it happen. It’s important to gain an in-depth understanding of a few important things that will be important in interdisciplinary innovation management such as: Is the culture open to innovation, and if not, how can you introduce it? How much risk are you willing to take on to create innovation?

It requires much more time, energy, passion, courage, experimentation, retreat, and reflection to get clear and focused on the innovative ideas, alternative solutions. An innovative organization can glue up loose components into differentiated innovation capabilities, continue to deliver personalized solutions to meet customers’ needs, and enforce an effective idea generation-selection-implementation cycle. It can reach a higher state of business innovation excellence by refining business models, processes or solutions, enacting and executing in a disciplined way.

Innovation is useless unless there are real, tangible benefits in the quantitative or qualitative way: Innovation performance of the company depends on the quality and quantity of ideas entering the “innovation pipeline,” how effectively you can select, implement the best ones with measurable business benefit. You can only manage what you measure, there is no exception for innovation management. Innovative organizations increase go-to-market confidence, build a distinguished set of innovation capabilities; present the greater businesses’ ability to execute with a premium pathway

Innovation metrics can help you get some objective perspectives on what you are trying to manage, but they need to be crafted and interpreted well. The context of innovation performance indicators include such as % of revenue from new products/services introduced. You could also change the variables and create something like % of the profit from new ideas implemented. But it takes quite some time for a new innovation drive to produce those measures. It won’t be just a matter of explicitly communicating the intention behind innovation measurement, but a matter of coaching and leadership to guide the team via understanding the purpose of doing that and engaging on that, to improve innovation success rate.

It takes an amazingly strong strength to manage innovation. Innovation in the digital dynamic has become increasingly complex in nature and expands its horizon for impact. Those that have failed call it a buzzword. Innovation needs to lay out different mindsets, structures, processes, capabilities to unleash its potential. Outline the total system at work in an enterprise that accomplishes innovation in a structural way. It takes a great deal of effort to glue up all crucial ingredients into differentiated innovation competency.

Posted in: Innovation