VadiK teachings Vadim Kotelnikov

Innovation Functions

4 Main Keys to Success

Vadim Kotelnikov, founder of 1000ventures - personal logo VadiK

Inventor Business e-Coach

Author Innoball

Founder Innompic Games icon

 

 

The four main keys to success of an innovation function are:

① Top management support;

② Strategic Alignment;

③ A-to-Z Responsibility;

④ Proximity to customers.

  Innovation Functionsl: 4 Main Keys To Success

 

Vadim Kotelnikov on organizational structures for innovation

If you create something unseen before,
prepare to address challenges unmet earlier

~ Vadim Kotelnikov

 

The driving force of innovation is love.
By its nature innovation is a science-flavored art.
The process of innovation, ideally, is jazz − improvisation within a guiding structure,
in reality, it is a football game.

 

 

 

Companies that chose creation of innovative products and services as their primary focus must establish productive innovation functions that take responsibility for new ideas through to prototyping while reporting in-market successes and profits as well.

 

Systemic Innovation

Shift to Systemic Innovation

Approaches Favoring Systemic Innovation

 

 

 

Leading companies that create an environment where employees are encouraged and rewarded for making contributions of their street-smarts in order to fuel the company's soft-innovation efforts keep inventing amazing customer experiences.

 

Soft and Hard Innovation

Examples of Soft Innovation

 

 

   

4 Main Keys to Success of Innovation Functions

 

 

 

 

❶ Enthusiastic and effective C-level and leadership support is a critical key driver of success of an innovation function. The Top Management Team must lead innovation in an inspiring, entrepreneurial and supporting way.

❷ Strategic focus and strategic alignment are highly important to success of an innovation functions. The new product vision and innovation strategy must be aligned with the strategic intent of the company, well developed, integrated into the broad corporate strategy, and clearly articulated. Companies with integrated strategies share organizational elements across the innovation portfolio.

❸ Innovation functions that have complete A-Z/360 responsibility for their value chains ‒ ideas, proof of concept, beta-testing, launch, and scaling ‒ are more effective at meeting objectives and achieving in-market successes.

Innovation functions linked to talent hubs and/or target markets have more market success and meet their objectives more effectively. Co-innovation with customers and suppliers increases chances for success. Entrepreneurial simulation games, like InnoBall (Innovation Brainball), help empowered cross-functional innovation teams achieve far more and beyond their initial aspirations.

 

 

 

 

Successful innovative firms have consistent innovation policies and simulation-powered innopreneurial strategies that define short- and long-term requirements for growth and provide a framework for decisions.

  Innovation Innovation Management Innovarsity Innovation Strategy Synergy Innovation MBS: Innovation Innovation System Daring Strategies Dynamic Strategies Drivers of Innovation Innovation Processes Synergize Diversities Innovation Functions and 3Ss Innovation Management

 

   

Innovation Process A-to-Z/360