Ideation & Innovation Management 

Ideas in - Value Out

How do you enable an organization to innovate continuously?

The key is establishing a well oiled innovation machinery that engages all employees, generates innovation ideas and delivers innovation projects aligned with strategy

This calls for effective governance system that drives ideation and innovation, establish robust processes to convert ideas to value and manage change.

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Governance for Innovation

Source: Innovation360 Group

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Innovation governance is important to ensure that all innovation efforts are aligned with strategic direction

Two key pillars of governance are Innovation Board and Task Force.

 

The Innovation Board is responsible for ensuring strategic alignment, allocation of resources and managing the innovation portfolio.

 

The task force is responsible for running idea campaigns, hackathons, clustering ideas, forming hypothesis and running experiments.

Together, the board and task force are required to effectively manage the innovation / ideation management system.

Process for Innovation

Innovation process consists of 4 phases of ideation, selection, development and commercialization. The traditional stage gate process for project management unfortunately doesn't work for innovation; innovation is about managing uncertainty and is iterative process.

Hence innovation process requires a unique "Yes - And" process and a hypothesis based approach to succeed. You need to combine this with very agile development and commercialization process, built around a solid portfolio management approach.

Further, innovation management requires organizations to go beyond itself for ideas. Organizations need to involve customers, suppliers, universities and even competitors to generate ideas. These are done through open innovation, idea campaigns and hackathons.

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Source: Innovation360 Group

Innovation Structure

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Functional silos is one of the top blockers of innovation; you can’t achieve innovation through the efforts of few people and hierarchy.

The innovation org structure is one area which is unique to each organization. 3 different models are in vogue and their appropriateness seems to be dependent on the organizations business, culture and environment.

Some organizations have chosen centralized innovation structure, setting up incubators, innovation labs etc. Others have taken a business unit approach and created a decentralized model. And furthermore, other organizations have chosen a hybrid model.

 

Clearly, organizations need to evaluate the innovation structure that is appropriate for their needs rather than copy model of someone else.

We help organizations develop ideation / innovation management systems that are aligned to their goals using a methodology that has been used by multiple organizations. 

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Source: Innovation360 Group

To discuss development of ideation/innovation management system at your organization leave your email id by clicking the button below and we will get in touch with you

The innovation management and ideation management consulting solutions are based on methods and tools developed by Innovation360 Group. These are being used as a Licensed Practioner and IMBB Innovation Management Black Belt™️