INNOVATION
How To Fully Unlock
Innovation Capabilities For
Your Organization
By Senorine Wasike
A
ccording to Mahatma Gandhi
individuals that believe in
achieving their goals usually
acquire the capacity to do so even if these
individuals may not have the capabilities
to do so. This means that Individuals
can obtain, improve, and retain the
skills, knowledge, tools, equipment and
other resources needed to do their jobs
competently. The same can be said of
organizations because at the heart of any
functioning business are people.
In today’s business world, organizations
are looking for ways to remain competitive
and relevant to their consumers because the
consumers have become more demanding
and intense competition is offering them
alternative solutions at better value. The
market place has become more dynamic
than ever before forcing organizations to
find ways of staying relevant. This article
looks at ways an organization can fully
unlock its innovation capabilities thereby
setting itself up for success.
Strategic Approach To
Innovation
Innovation is a proven engine of growth
not only for organizations but for
economies across the globe. Organizations
that experience growth today or plan to do
so in the future are those that incorporate
innovation in the overall business strategy.
Such organizations enjoy top management
support in driving innovation.
The innovation strategy mirrors the
organization’s strategy and is brought
to life through an active pipeline of
Incremental innovation focuses on improve-
ments of products and processes over time. This
is less risky and almost always has guaranteed
results. Breakthrough innovation on the other
hand requires significant upfront investment
and focuses on revenue returns much later. Any
organization that does not clearly differentiate
these two, may end up killing great innovation
ideas for immediate gain.
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innovation projects. The pipeline acts as
a guide in prioritizing innovation ideas
based on an organization’s capabilities
and future growth opportunities. Having
this forecast enables the organization to
leverage on its resources and maximize on
partnerships that fit into its strategy of
growth through innovation.
Fostering An Innovation
Culture
Incorporating the word ‘innovation’ in your
mission, vision or values is not a guarantee
that your organization will succeed in its
innovation initiatives. Employees must
understand the role of innovation and
the part they each play in ensuring that
innovation is successful. What this means
is that organizations must be intentional
about driving the culture of innovation.
A good way to achieve this would be
for an organization to have innovations
champions that lead the innovation
process or agenda. The champions should
leverage on cross functional collaboration
among the different teams because there
is no single person who can be a master
creator or innovator.
Staff should be free to share innovative
ideas regardless of how ridiculous these
ideas may sound and leadership must show
initiative of capturing and developing the
ideas generated to ensure that none is
forgotten or dropped off.