Tag: Innovation Management (IM)

Often people talk of innovation as a one step idea-creating process that continues forever. But there are three building blocks to innovation. The idea creation or ideating and creating is only the beginning, with designing and killing ideas and lastly scaling as the other two parts.

Innovation as a management discipline and its application in everyday work life has become synonymous with growth and sustainability. As advocated by innovation guru Gary Hamel since mid- 2000, there is a good understanding that Innovation in management principles and processes can create long-lasting advantage and produce dramatic shifts in competitive position.

Demystifying innovation is trying to break it into what we see are the building blocks of getting from creating ideas to realising the value of innovation. There are three parts to it, and these are not necessarily sequential – ideating and shaping, designing and killing ideas and lastly scaling.

Innovation is the driving force of modern business. In a rapidly changing world, organisations need to be able to adapt and transform at speed: in fact, change management is the most important soft skill for businesses of today.

Global crises and Black Swan events are not catalysts for leaders to think about the future. Leaders think about renewal all of the time, how to reposition products and services, and how to differentiate and create new demand or markets.

Emerging technologies and innovative new business models are transforming life, business and the global economy at unprecedented speeds. As digital technologies reshape the modern world, businesses established in less fluid times are having to make increasingly complex and critical decisions against the ticking clock of change. 

Read our exclusive cover story titled INNOVATION VALUE | WHAT DRIVERS DO ORGANISATIONS USE TO COMPETE EFFECTIVELY? by Henra Mayer, CEO, Innocentrix, as well a host of other topical management articles written by professionals, consultants and academics in the August/September 2020 edition of BusinessBrief.

Understanding and communicating what innovation (and its related focus areas) means for your organisation, is the very first step towards making innovation work in your organisation.

The ISO 56000 series of Innovation Management standards is a family of standards published by ISO (International Organisation for Standardisation), in collaboration with approximately 50 other countries, that is aimed at providing guidance to organisations on how to manage innovation better and benchmark their related activities and programmes.