The Secret Formula:
Building Innovation Into Your Organization
Success depends on both
what you do and
how you do it. There are
specific elements
that help you and your company to be more innovative. But it's not a matter
of simply following directions. The 'secret formula' is actually not very
formulaic. It's blend of culture, methodologies, infrastructure, and
work practices.10
Innovation – the Key to Success and Survival
Leaders of successful, high-growth companies
understand that
innovation
is what drives growth, and innovation is achieved
by awesome people with a shared
relentless growth attitude
and shared passion for problem solving and for turning
ideas into realities.
The Power of Passion
Companies that continuously innovate will create and
re-invent new markets, products, services, and
business models
– which leads
to
more growth. Innovation is founded on your enterprise's ability to
recognize market opportunities, your internal
capabilities
to respond innovatively, and your
knowledge base.
The Tao of Value Innovation
So, the best thing to do to guarantee growth is
to build a sustainable innovation organization around the following components:
-
Vision and strategy for
innovation
-
Culture supporting innovation
-
Processes, practices and
systems supporting innovation
-
Top management team leading
innovation
-
Cross-functional teams mapping
innovation road
-
Empowered employees driving
innovation.
Best
Practices
Google: 10 Golden Rules
Encourage
Creativity. Google
engineers can spend up to 20 percent of their time on a project of their
choice. There is, of course, an approval process and some oversight, but
basically we want to
allow creative people to be creative. One of our
not-so-secret weapons is our ideas mailing list: a companywide
suggestion box where people can post ideas ranging from parking
procedures to the next killer app. The software allows for everyone to
comment on and rate ideas, permitting the best ideas to percolate to the
top...
More
Perfect Brainstorming: 10 Rules
Finding the Right
Balance
Between Bureaucracy and
Chaos
To jazz up your ability to innovate, turn to
jazz –
the improvisation-driven model
for innovation project
management.
This model doesn’t discard structure, just as there is a clear structure to good
jazz. Successful organizations
balance
bureaucratic processes at
one extreme with the fluid
creative chaos
of relationships, interests and transactions, which enable it to be
innovative and alive, at the other...
More
Cross-Functional Teams Leading Innovation
In the new era of
systemic
innovation, it is more
important for an organization to be cross-functionally excellent than
functionally excellent.
Firms which are successful in realizing the full
returns from their technologies and innovations are able to match their
technological developments with complementary expertise in other areas of
their business, such as manufacturing, distribution, human resources,
marketing, and customer relationships. To lead these expertise development
efforts,
cross-functional teams, either formal or informal, need to be
formed. These teams can also find new businesses in white spaces between
existing business units.
In
strategic innovation road-mapping, the starting point for knowledge
building and learning about the innovation concept is to establish a shared
view of trends, disruptive
technologies and other discontinuities, and related events that could shape
the future. Organize regular
meetings of multi-disciplinary teams
to discuss explicitly – and if required, redefine – innovation
objectives, priorities, and specific projects...