Building a repeatable model for innovation is a journey, not a trophy. An innovation department builds services and competencies across multiple disciplines – from research to communications and culture. And even with a dedicated innovation department, they must cooperate seamlessly with other parts of the business in order to deliver meaningful results on an ongoing basis.
How can you assess how innovative your business is? The Innovation Sophistication Index is a list of just 24 statements. For each statement you score one point if you fully agree with it for your organization. Please try the list below.
Organizations rely on innovations to sustain competitiveness. Managers often talk about innovations. Some use it as an ornament. Perhaps innovation is the mostly abused word by organizations and practicing managers. There are dozens of definitions for the word innovation.
This time of year is full of meetings with leadership and teams in order to help them prepare for the year ahead. People discuss financial goals, sustainability goals, profitability targets, customer success metrics, and more, but there are also numerous research & development teams out there who are coordinating their annual innovation strategy who struggle in their process to create a cohesive innovation strategy.
Consider the world’s most ingeniously designed products. Whether it’s your smartphone, your favorite racing bike or a nifty robotic lawn mower – they all have a one thing in common: rather than being conceived overnight, they were shaped by a series of consecutive, systematic innovations. But how does such a structured product innovation approach look? This CREAX project illustrates the ins and outs.
What should a roadmap that helps you develop corporate innovation capabilities look like? How do you bring new thoughts and approaches together with current and past initiatives (both successes and failures) and turn this into a single framework? How do you keep pushing and developing your organization to become more flexible and agile without losing out on the current overall efforts and expected results?
It’s follow my leader time for the world’s stock markets. Concerns over the state of the Chinese economy have seen markets plunge into freefall, only for some to bounce upwards again a few hours later. At the time of writing, markets are still in flux with analysts divided on the eventual outcome.
Countless articles argue: To remain competitive, companies need to consistently build their innovation portfolio. Value-oriented improvement and new developments must permeate the business. This article discusses a structured approach, known as a Rapid Innovation Cycle, which brings a repeatable process to innovation, empowering individuals to contribute more and organizations to look beyond themselves—all leading to a higher success rate.