Interdisciplinary Innovation

Becoming a consistently innovative company requires tuning both organizational structure and culture to nurture new ideas, profitably execute those ideas, and manage a healthy innovation portfolio.

Innovation is the light every organization is pursuing. Nowadays, to unleash the full potential of the business, look at new sources of untapped value, develop professional or collective innovation parameters, and create the alternative value index comprising multidimensional value lenses. 

As things change, the old paradigm becomes incompatible with the new reality and there occurs a digital paradigm shift. Innovation needs to be managed in a structural way, leveraging emerging technologies to accelerate the progress of global society.

Value-driven Innovation: "Value innovation" in business strategy, involves creating unique value by reshaping market boundaries and offering differentiated solutions at low cost, thereby making competition irrelevant. Additionally, creativity is defined as the ability to bring something new into existence, which can also be seen as an inimitable perspective in various fields.

Interdisciplinary Innovation: The breadth of innovation is dependent on the interdisciplinary understanding of the patterns and information clues behind the puzzle. The powerful platforms and collaboration tools are crucial enablers to inspire brainstorming, build organizational innovation capacity, and increase the probability of innovation success. Besides talented innovators, innovation management frameworks with effective policies, structures, and programs can drive innovation systematically.

Innovative problem-solving: Innovation is a means, not an end. If you don’t know where you want to go, you are unlikely to get there. In practice, innovative problem-solving starts with creative communication and sets alternative choices, and then you have to make the best decisions you can, master the art of creating unique, differentiating business solutions from piles of commoditized technologies, and take advantage of the emergent digital trends.

Companies compete on innovation, regardless of how long they have been in business. Innovation is doing something better than it currently is. The more disruptive the innovation is, the greater the risk would be. Becoming a consistently innovative company requires tuning both organizational structure and culture to nurture new ideas, profitably execute those ideas, and manage a healthy innovation portfolio with both incremental innovation and breakthrough innovation.

 

Posted in: Innovation