All Things Innovation’s Post

Innovation isn’t just a buzzword. It’s the difference between success and failure. Companies that fail to innovate become obsolete. Just look at what happened to Kodak. They were at the top of their game for over a century. Then they failed to respond to the digital revolution. Now they’re a footnote in history. Don’t let that happen to you. Invest in innovation funding opportunities. Take risks. And stay ahead of the curve. It’s the only way to survive in today’s fast-paced business landscape. So, what are you waiting for?

What do innovation frameworks all have in common? They give way to creative problem solving, adaptability, and growth. As businesses face unprecedented challenges and opportunities this year, the role of innovation is becoming more crucial than ever. Of course, innovation isn't a one-size-fits-all concept. Actually its very much the opposite more often than not. Innovation thrives in a little bit of organised chaos, approaches and methodologies that innovation frameworks have to offer. To dodge the complexities that this new year will no doubt hurdle toward us, innovation frame works give a structured yet flexible roadmap for responding to market changes and achieving long-term success. But let's back up from the whole business aspect of this topic for a moment, if you use innovation frameworks to the advantages they offer, every aspect of your business will benefit. They can influence processes, culture, and strategic decision-making. Businesses need to go beyond mere survival, who doesn't want to lead in their respective industry? Whether we talk about Design Thinking, Lean Innovation, or Open Innovation, these frameworks share a common goal... learning from both successes and failures, thinking differently, and experimenting boldly. If you've made it to the end of the post, maybe you're wondering how you can learn more about not only what the different innovation frameworks are but how they work so you can position yourself for success. Well, stay tuned... I may have just the thing coming up for you 👀

Innovation - The Revolutionzer Coming from the greatest innovator and creator of all times, who has revolutionized the way technology is perceived, Steve Jobs had said, “Innovation is the ability to see change as an opportunity, not as a threat”. As creators, innovators, scientists, technological leaders and more come together to brainstorm and activate their grey cells they give birth to concepts, ideas, visions etc. that are ready to revolutionize the world and make life simpler and efficient. Innovation is like breathing a new life into the world as with it comes a new hope, new aspiration and a foresight that can change the life for better. It has become the ladder of growth with breakthrough discoveries been made by great stalwarts till date. When creativity and innovation collaborate as one, we see the ingenious minds transcend the challenges and boundaries of their mind to bring forth path breaking ideas on the table that would create history in times to come. Modernization and innovation are like conjoined twins, inseparable and need to go hand in hand. What is modernization? Its simply seeing and perceiving things in a new and unique way. So, in order to make that possible one has to take the help of innovation to make the perception of the mind be brought out live. The zeal and willingness to innovate ignites the urge to stimulate the mind, think out of the box, go beyond the comfort zones, rise above failures, strive for excellence and create an indelible mark in the world that is remembered and cherished for life, due to the work and passion one showcases by converting dreams into reality merely by innovation. These days for businesses to grow is it vital to innovate at every stage of the business whether it’s the processes, functionalities, products or services, technology and more. If one has to focus on the area where innovation is a mandate then it would be technology as that’s what helps in gaining a competitive edge in the market and be in the lead. Technological advancement is a key driver in the field of innovation as it possesses the ability to revamp tasks and structures into a new and innovative way. It can transform human resource functions, marketing methods, operational processes, financial aspects and most importantly the face of the entire dynamics of business into a world as never explored and experienced before. In my opinion in order to innovate, one has to invigorate the mind first as it all begins from the psyche of the mind as well as its thinking that leads to the path of innovation and creativity. It all comes to perseverance, resilience and determination to achieve the goal that makes you give the best as well as showcase ardent devotion towards innovation as if it were like admiring your own self.

What gets in the way of innovation? Corporate boardrooms commit to it, at least in lip-service; initiatives are conceived and implemented around it; and yet, when measured against actual progress and performance, little success nor meaningful advancement is reported. I think there are often two natural states that medium-sized and large organizations fall victim to, each presenting its own barriers to innovation: 1 – It’s natural to do nothing. Innovation involves a certain degree of risk. New endeavors and inventions are unproven, by their very nature. They often result in failure, which comes at a cost (in time and money). As a result, few inside the company raise their hands to take ownership of new ideas and progressive thinking. Nobody gets noticed for not failing—and if innovation isn’t expected, demanded or rewarded, many will feel more comfortable succeeding at not failing then they will risking failure by not succeeding. The result? Stasis. 2 – Innovation becomes too big to fail—so it can’t ever get the chance to succeed. Too often, we think of innovation as one big massive endeavor. The misperception is that innovation needs to truly move the needle in huge noticeable ways in order for it to be considered a success. Large-scale endeavors require resources and drain human capital. Moreover, once a single mammoth leap toward major innovation has been authorized and implemented, it becomes a magnet for the entire company’s set of individual or departmental pet projects and wish lists. Inevitably, people will try to get their own personal priorities tacked on after everyone knows the idea is critical to the company but before the scope and price is pinned down. Scope creep then turns an already massive undertaking and bloats it out to be an immense immovable object that gains no traction and reaches no milestone. Again, the result is stasis. Neither state is particularly helpful toward creating a culture of innovation. In fact both will undermine it at every turn. You can’t do nothing; and you can’t try to boil the ocean. Perhaps the answer is somewhere in between, as it so often is?

Most people think innovation is inherently risky, messy, and expensive. That's because they confuse innovation with creativity. If you ever hope to turn innovation into a repeatable business process, then you must first discover your target customers' unmet needs before generating ideas. But not just any "needs," specifically the jobs your customers are trying to get done and the criteria they use to measure success that are important but going unsatisfied. These are your opportunities for new value creation. These need statements are instructions from your target customers about where to focus and what to do for them to create unique value. Once you have identified and ranked the opportunities in your market, you can evaluate each one according to your own criteria to determine which are attractive to pursue for new value creation. If you want to pursue only opportunities that are low risk, straightforward, and inexpensive, you can do that; it's totally up to you. Innovation is not inherently risky, messy, and expensive. How most companies execute innovation is. Want to learn more about how you can turn innovation into a repeatable business process? Follow me or sign up for my bi-weekly "Innovation Revelations" at the link in the first comment. #innovationmanagement #growthstrategy #newproductdevelopment #Jobstobedone #differentiation #competitiveadvantage

Q: What is the most common killer of innovation projects? A: Short-term vision. I've worked with several enterprise companies. They want innovation. They also want ROI quickly. Unfortunately, sometimes the two don't work together. Innovation takes time. Innovation requires talent. Innovation demands failure and learning. So, the best way to to drive innovation is to set new expectations based on long-term vision. I always ask my clients to think about benefits 10, 20 years ahead vs. ROI in 6-12 months. How can this technology be a breakthrough and provide value in the long term? You will know once you answer that question if this innovation project is worth the long haul. And if it's not, it's best to pivot elsewhere.

Innovation is a term that is loosely coined by many, but not everyone gets it. What is Innovation? Quite simply, innovation is the action you take when you want to find a simpler, better and/or newer approach to a method, idea or a product. I often see businesses being forced to innovate or become adopters just to stay afloat with the market. Often times, it stems from a lack of purpose and vision that drives the strategy. So who are the “Early Adopters”? and what makes them ahead of others? Purpose. People. Passion. The leaders and decision makers have a higher purpose that goes beyond just staying ahead of their competition, their purpose is people-centric, i.e. how can their products and services better serve the people, how can they better address the pain points, and this isn’t limited to just their customers, rather equally applicable to their workforce which then acknowledges this and is driven with an intrinsic passion to deliver. That’s the recipe for success. If you need an example, Apple has always been a purpose-driven company which is why when IBM or Microsoft entered the market, rather than innovating to compete against them, they believed in their purpose and vision, and continued innovating with People, Purpose and Passion as their focus. This week I had an amazing experience being part of a 2 day workshop at Air Canada that was led by strategy experts Anas Tawileh and Rajneesh S. through the Purpose and Vision of Anthony M. Doyle. It was amazing to see how a small group of passionate, driven and innovative people were able to create impact and innovate with one thing in mind “People”. The approach and strategies taken away after the session are sure to position the company ahead in the innovation curve and significantly elevate the Customer and Employee Experience. It was a pleasure to work with you Anthony M. Doyle Anas Tawileh Rajneesh S. Haikel Nour John (Giannis) Tsambalieros Anthony Pizzolongo Anne-Marie Sambrooke Qurratulain Sikander Jin Hwa Lee Twyla Robinson Makayla Pickard Omair Farooq Shahzad

Innovation isn’t just a spark of creativity, it’s a strategic necessity. At Acumen, we guide companies to make innovation both relevant and impactful, ensuring growth and success.   Read more on how you can transform your ideas into strategic actions and sustainable results: https://lnkd.in/eDpt8nUd   #AcumenAdvantage

Most people think innovation is inherently risky, messy, and expensive. That's because they confuse innovation with creativity. If you ever hope to turn innovation into a repeatable business process, then you must first discover your target customers' unmet needs before generating ideas. But not just any "needs," specifically the jobs your customers are trying to get done and the criteria they use to measure success that are important but going unsatisfied. These are your opportunities for new value creation. These need statements are instructions from your target customers about where to focus and what to do for them to create unique value. Once you have identified and ranked the opportunities in your market, you can evaluate each one according to your own criteria to determine which are attractive to pursue for new value creation. If you want to pursue only opportunities that are low risk, straightforward, and inexpensive, you can do that; it's totally up to you. Innovation is not inherently risky, messy, and expensive. How most companies execute innovation is. Want to learn more about how you can turn innovation into a repeatable business process? Follow me or sign up for my bi-weekly "Innovation Revelations" at the link in the first comment. #innovationmanagement #growthstrategy #newproductdevelopment #Jobstobedone #differentiation #competitiveadvantage

Innovation thrives when built on your core values. Your core values are the guiding principles that define who you are, what you do, and how you do it. Any innovation strategy should not only align with but also strengthen these core values, rather than alter them. When crafting your innovation strategy, start with what empowers your core values, ensuring they remain the foundation of all progress and change. Additionally, establish a regular monitoring process to ensure that innovation initiatives are consistently reinforcing these core principles. A key takeaway I recently learned is to measure success against values. When evaluating the success of innovation efforts, include metrics that assess how well these initiatives align with and uphold your company’s core values.