Thursday, June 13, 2024

Innovation Influence

 Innovation needs to lay out different mindsets, structures, processes, capabilities to unleash its potential and scale up its impact.

Innovation becomes simply” creating value by solving simple or complex problems.” Innovation is a production, adoption, assimilation, and exploitation of value-added novelty in economic and social spheres. Innovation is about harnessing creative thinking, alternative ways to do things and solve problems creatively. Innovation is never static but keeps evolving. 


Fueling perseverance by disrupting mediocre: With exponential growth of information and rapid changes, it’s critical for organizations to make creative disruption for awakening innovation, “Creative Disruption” makes sense, taking into consideration that many individuals or organizations do not seem to be satisfied with the current circumstances because there are not enough innovations happening in their businesses to disrupt outdated mindsets, systems, processes, cultures, business models, or practices.


People tend to be "risk averse." Practicing innovative thinking takes a certain mental, psychological and conditional chemistry to break away from thoughts that others have thought about or conventional wisdom. There are frictions and pitfalls on the way to disrupt mediocre thoughts and behaviors, do not give up too easily. Individuals should refresh their creative energy, relearn and keep learning agile, practice innovative problem-solving.  To make creative disruptions, organizations depend more heavily on their technological knowledge and market capabilities to experiment, learn and innovate. 


Harnessing innovativeness consistency by digging underneath the symptoms: Innovation is a mindset, not just a few initiatives. There are many indicators to assess the intrinsic capacity of individuals such as interdisciplinary skills and knowledge, plasticity (fast learning), openness to experience, tolerance of ambiguity, intellectual engagement, creative problem-solving, ability, emotional intelligence and risk-taking attitude. 


To breakthrough thinking ceilings and enforce innovation consistency, you need to build the solid Systems Thinking block, be able to perceive the invisible behind the visible, listen to untold, discover the root causes underneath the symptoms on the surface, recognize the connections and interdependence, gain sufficient knowledge and unique insight to observe deeper and see around the corner, in order to figure out the root causes of problems and solve them creatively. Being innovative is a state of mind, so keep sharpening creative mindset and a set of differentiated competencies for harnessing innovation capacities and lead innovation excellence. 


Increasing resilience by enhancing GRC disciplines: At the heart of innovation, much of what needs to happen is just change management. With every "change," the risk is involved. The positive attitude to drive innovation efforts is to take calculated risks and be cautious about obstacles or pitfalls of change, inspire a good innovation initiative, and avoid a bad innovation pitfall. The psychology behind innovation is resilience - being willing to face risks, and overcoming the fear and inertia associated with such risks. 


The world becomes more dynamic, innovation is for renewal; it is equivalent to sustainability and resilience for an increasing number of hyper-connected enterprises and industries, the good or bad innovation would depend on the business’s attitude to drive innovation and its aptitude to manage innovation. Innovation is risky. What could be seen as a fair determinant of taking an innovation initiative is to view innovation as risk and to assess the risk based on projections of success of innovation management. The great attitude towards innovation is about taking calculated risks to inspire good innovation initiatives, staying focused, weighing risks and rewards, and discovering better ways to mitigate risks rather than eliminate them.


Innovation in the digital era has become increasingly complex in nature and expands its horizon for scaling up its impact. There should be encouragement and involvement by management to spread the culture of innovation. Innovation needs to lay out different mindsets, structures, processes, capabilities to unleash its potential and scale up its impact.


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