Contemporary innovation programs lead to shifts in business offerings including design and development of new product or services. As a result, shifts in processes, marketing, and refinement of the business models also occur.
Innovation is the management of the process from ‘cradle to grave’. In other words, it goes from observing an unmet need, to coming up with an idea, developing prototypes and proving your theories. And these prototypes, or minimum viable product (MVP) are tested through early adopters, prior to going to market.
The leaders and innovation teams must be capable of turning these ideas into value through business strategy, productor services. However, it is not enough to only have the leadership or talent to dream of new ideas.
It requires courage, commitment and a willingness of today’s leaders to develop and manage high-performing innovation programs.
An organisation’s ability to innovate requires a team whose members have the knowledge and competencies to develop up, and exploit, the potential of new ideas. And then execute on these ideas through an innovation work program that includes ideation, design, product and service development, new go-to-market strategies, and attracting growth capital. These steps are necessary to successfully exploit the potential of these ideas, and to improve business performance.
And it takes a talented innovation team to repeatedly execute and deliver on those strategy ideas, in order to design and development of new innovative product and services, improve business performance, and create stakeholder value.
Steps to Improve your Innovation Program
1. It starts with a creative process that needs some overall statement of an unmet need.
2. Unpack the problem you are trying to solve.
3. Park that detailed predetermined vision.
4. Don’t try to launch innovation through a single company-wide grand program.
5. Start in a small way around ‘ripe issues’ that have large consequences.
6. Uncover the hot spots of the wider issue you are trying to solve, and which hold energy for change.
7. Work step by step. Use trials and proof of principle, and adjust as you go.
8. When you lead change through urgency, you give up any notion of a fixed medium-to-long-term plan.
9. Build skills in changing the here-and-now moment. You can only change the present, not the past, or the future.
10. Use informal networks and volunteers.
11. Create community and ask for advocacy through common interest groups.
12. Cultivate connectivity, diversity and rapid feedback loops.
“Organisations that invest in leadership capabilities and creating strategies, shared vision and a strong culture of design, and product or service development are best placed to create high-performing innovation programs.” Gary Morgan, MPT Innovation Group
If you would like to discuss your organisation’s innovation program or preparedness, then please complete and send the registration of interest: