I received queries in response to my earlier post Building The Innovation Culture. So here is a diagram on the go to explain the steps an organization needs to follow to start its innovation journey.
Company's Innovation Vision has to be brainstormed, defined & documented (in that order) by the organizations leadership team. When a enterprise invests in Innovation it is critical that the Innovation should deliver some tangible benefits to the enterprise to justify next round of internal-investments. A great innovation without any purpose or an innovation which does not have tangible benefits for the enterprise is a dead investment and may lead to blockage of future Innovation funding. That is why the innovation journey of an enterprise should starts by answering the following key questions. Why , What, Who & How should help you define the Innovation Vision for your organization.
Once the leadership has answered the above questions they can come out with Innovation vision.
Innovation Vision helps us define the Innovation road-map and the plan to implement the innovation road-map along with key milestones. Once the implementation starts it is critical to monitor innovation investment and ensure adequate support to individuals working on innovation initiatives. The should guidelines clearly define the milestones and innovation investment has to be reviewed at each milestone. Regular milestone reviews help the organization to monitor the progress and take a decision on continuing the investment or scrapping it.
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Innovation Journey - Big Picture |
Company's Innovation Vision has to be brainstormed, defined & documented (in that order) by the organizations leadership team. When a enterprise invests in Innovation it is critical that the Innovation should deliver some tangible benefits to the enterprise to justify next round of internal-investments. A great innovation without any purpose or an innovation which does not have tangible benefits for the enterprise is a dead investment and may lead to blockage of future Innovation funding. That is why the innovation journey of an enterprise should starts by answering the following key questions. Why , What, Who & How should help you define the Innovation Vision for your organization.
Why?
- Organization's leadership should answer why should their organization invest in innovation?
- Each leader brings his list of points to support of the case for investment in innovation
- The leadership team brain storms Enterprise's Need For Innovation
- Leadership agrees on 'Why Innovation'
What?
- What should be the areas of focus for innovation?
- What innovations will help business growth, speed to market & value added products?
- What innovation will give the company competitive advantage?
- What innovations will help the organization build disruptive products/solutions?
- Leadership agrees on Innovation Landscape.
Who?
- Which groups & teams need to be part of innovation journey?
- Not everybody in the organization can work on innovation
- How will we identify people who will invest in innovation?
- How will the people contribute to innovation?
How?
- How will organization provide groups/employee time & resources to invest in innovation?
- Who and how will we monitor the investment in innovation work?
- How should we set goals & targets for 'Quick Win' innovation?
- How do we decide when to 'Pull the plus' from any innovation initiative?
- How do we recognize & reward innovation?
Once the leadership has answered the above questions they can come out with Innovation vision.
Innovation Vision helps us define the Innovation road-map and the plan to implement the innovation road-map along with key milestones. Once the implementation starts it is critical to monitor innovation investment and ensure adequate support to individuals working on innovation initiatives. The should guidelines clearly define the milestones and innovation investment has to be reviewed at each milestone. Regular milestone reviews help the organization to monitor the progress and take a decision on continuing the investment or scrapping it.
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