- Why is Innovation important?
- What is Innovation?
- How do you go about Innovating?
- Who can drive innovation at your company?
Here are the links to few interesting blogs that answer these questions. Here is a link to my profile.
Why do we need Innovation? Why can’t we just stick to our knitting?
“Top 5 reasons Successful Companies Focus on Innovation” is a blog that addresses these questions.
What is Innovation? What are the different types of Innovations?
Innovation is about connecting some known and unknown dots to build something that has never been build before. It is serendipitous, as you connect some dots that you came across many months ago with some dots that you came across just now to create new products, services, business models and processes. Here is a great article from FastCompany on “What is Innovation?”. Inc magazine article provides a tactical definition here.
There are many different types of innovations. I believe in customer experience driven innovations as discussed in my Innovation focused on Customer Experience. The example discussed in this blog is “Business Model” innovation. There are more examples of product, service, brand, disruptive innovations across my blogs.
How to Achieve Innovation?
This is a loaded question. This requires building the right culture, developing right processes, hiring good talent, ensuring good execution and practicing persistence. A lot goes into being successful with Innovation. Here are few blogs on various aspects of achieving innovation.
Following a repeatable process that helps in thoroughly evaluating an idea is essential. Here is a blog on innovation process.
Strategy Frameworks for Innovation helps in devising the right strategy for innovation.
5 Steps for Setting Innovation Goals discusses the steps for setting the right goals focused on customer experience driven innovation.
Here is a blog on a need for separate Innovation metrics.
Soon, I will blog about the need for Innovation Culture and post a link here.
Who should lead Innovation?
This is a tough job, and you need someone who is not only visionary but possesses other essential characteristics to successfully innovate. Top 10 characteristics of Innovation Leaders highlights the leadership qualities required for successful innovation.
Having a good leader is not enough. As discussed in this blog, Innovation influencers play a key role in successful innovation.
Last but not the least, Innovation needs the support of the CEO without which it will not foster. CEO’s need to invest equally in running the current business as well as innovation, as discussed in the blog about ambidextrous CEO. The head of innovation at a company needs to report to the CEO.
Before you get on the Innovation bandwagon, ask all the questions and see if you have everything needed. Let me know if you have any other burning questions about innovation.
Please contact me if you need to discuss any of these topics.