innovation noun 1. 1. the action or process of innovating. innovation is crucial to the continuing success of any organization syno nyms : change, alteration, revolution, upheaval, transformation,metamorphosis, reorganization, res tructuring, rearrangement,recasting, remodelling, renovation, restyling, variation What is Innovation Management? Innovation management is the process of capturing and managing organisational innovation. Traditionally the territory of R&D teams, to
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    innovation noun  1. 1 . the action or process of innovating. innovation is crucial to the continuing success of any organization  synonyms: change, alteration, revolution, upheaval, transformation,metamorphosis, reorganization, res tructuring, rearrangement,recasting, remodelling, renovation, restyling, variation What is Innovation Management? Innovation management is the process of capturing and managing organisational innovation. Traditionally the territory of R&D teams, today many companies have organisation-wide innovation management programmes. This is due to increased recognition that innovation is essential for driving business growth and maintaining competitive advantage. Successful programmes capture the creativity of employees at every level of the organisation so ideas for  new products, business models or  process improvements, can be quickly discovered and implemented for maximum value. Wazoku Idea Spotlight provides a platform for managing innovation wherever and whenever it happens. Ideas can come from anyone within your business, and shared with a community of peers. The best ideas are routed to your experts and decision-makers to make sure that only those that will drive your business forward are put into practice. Optimisation, not control  Effective innovation management requires three things: a defined process model, a focus on innovation, and the right tools to manage it. It‘s important however, to make sure that you‘re optimising the process, not controlling it. A strict, hierarchical chain of command can stifle innovation. Instead, employees need to feel individually empowered to drive change and recognised for their innovation. That‘s why Wazoku Idea Spotlight is organic, social and democratic. It allows everyone in your business to create and evaluate ideas with an equal voice. Informal peer networks can then collaborate, refine and vote on ideas so that the best ones make it to the top and individual    innovators are rewarded. Bottom-up emergence and top-down management   Great ideas don‘t usually come from prescribed brainstorming sessions. Inspiration can come from anywhere and at any time. Your innovation management programme must support idea capture from bottom-up, via employees, as well as top-down from management requests. This flexibility allows you to solve known problems as well as capture unsolicited, spontaneous ideas. Using Wazoku Idea Spotlight, employees can submit ideas on anything, wherever they are, on any device. All they need is an internet connection. In addition, managers can request ideas on specific subjects to help address existing problems; just think of it as a virtual brainstorm. How to Manage Innovation Innovation has become management‟s new imperative. Everybody wants to be the next Apple, Google or Netflix, nobody wants to be Kokak, Blockbuster or US Steel.  Go to any conference these days and some whip-smart technogeek will declare that you must, “innovate or die,” and then dazzle you a wide array of case studies to illustrate the point.  You‟ll feel inspired, then scared and then have a few beers and go about your business.  What‟s missing is a clear set of principles for action.  What good is Steve Job‟s unfailing design sense when I can‟t even get my outfits to match? How can Google‟s technological supremacy be relevant to me  when I can‟t even figure out my   TV remote? In other words, we need to take innovation down from the presentation screen and into working life. Here‟s how to do that.    What is Innovation?   Unfortunately , innovation is often conflated with strategy . Strategy, after all is a coherent and substantiated logic for making choices,  while innovation is a messy business  which creates novel solutions to important problems. Put simply, strategy is about achieving objectives,     while innovation is about discovery, we never know e xactly where we‟re going until we get there.  You can see the conflict. If Feynman, widely hailed as one of the greatest minds of the 20th century, feels like a stupid ape trying to put two sticks together when working on a new problem, then there must be something missing in all of those slick conference presentations. Clearly, we need to develop frameworks for innovation that are separate from, although compatible strategy. The Three Pillars of Innovation   Finding novel solutions to important problems is not only hard, but complex. There are, after all, a myriad of important problems at any given time and countless potential approaches to each one of them. Innovation seems like too small a word. Nevertheless, I think we can move the ball further by breaking it down into three discrete areas of activity.: Competency:  Every organization has its own history and set of capabilities which determine its innovation competency. An old-line industrial firm can‟t just wake up one day and decide to operate like a hot Silicon Valley tech startup overnight, nor should they try. However, every enterprise can improve. Tim Kastelle, who researches innovation, has built a powerful framework  based on competence and commitment that will help you climb the ladder from laggard to world-class innovator. Strategy:  As an manager knows, resource allocation is critical to strategy and therefore needs to be an integral part of aligning innovation to strategic objectives.  Again, professor Kastelle provides valuable guidance with his version of thethree horizons model  which suggests a 70/20/10 split between improving existing products and processes, searching out adjacencies and exploring completely new markets. Management:  Even the most competent firm which deploys resources  wisely still needs to manage innovation effectively. This is my primary    focus. Two Crucial Questions   Defining a managerial approach to innovation starts with developing a  better understanding of the problem you need to solve. I‟ve found that two basic questions help clarify the path forward: How well is the problem defined?:  When Steve Jobs set out to build the iPod, he defined the problem as “1000 songs in my pocket.” He was a master at defining a clear product vision. Unfortunately, some problems aren‟t so easy to frame, like how to create a viable alternative to fossil fuels. So determining how well the problem is defined is a key part of developing an actionable strategy.  Who is best placed to solve it?:  Once Jobs defined the iPod problem, it was clear that he needed to find a disk drive manufacturer who could meet his needs and, once he did, he built one of the most successful products in history. Yet, again, sometimes the proper domain to solve a problem isn‟t so cut and dried.  One thing I like about these questions is that they clarify the issues quickly. Either there is a simple answer or there isn‟t. Once you start asking them, you are well on your way to defining a viable approach. The Innovation Management Matrix   To follow up on the innovation questions, I developed the Innovation Management Matrix, determining problem and domain definition allows us to build a simple 2×2 matrix encompassing four basic types of innovation:
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