Innovation and Innovation Management – & # 39; The Must-Knows & # 39;

Everyone in business and politics knows that innovation is important, but companies still fight for innovation in a stable way. One of the reasons for this is that there is reasonable confusion about what innovation is (its definition); vocabulary of innovation; and innovation context. The following facts about innovation help to reduce some problems:

  • Innovation is a profitable implementation of ideas
  • Innovation is a multidimensional structure.
  • Innovation can be described by brand (process, product, service, business model, value, market, brand, price, channel, etc.).
  • and degree (incremental, semi-solid, radical, transformation, etc.).
  • innovation can be described as user innovation (developer benefits using it) or
  • manufacturer of innovation (developers benefit from selling it in the market).
  • definition will focus on a particular analytical department (eg project, project, individual, group, SBU, company, region or nation).
  • definition can therefore take a broad or narrow perspective.
  • definition can indicate supply or demand vision.
  • review innovation as either a product or process, but useful is too simple.
  • persistent innovation can be radical or incremental.
  • disturbing innovation, on the other hand, emphasizes the dimension of enterprise-leading business & # 39; Most profitable customers do not particularly value.
  • The same author can use a variety of different definitions, depending on what dimension is discussed.
  • Innovation can also be seen as an attitude: "There must be a better way."

Leave above and you will be well on your way to understanding innovation and making it happen in your own organization.


What is innovation?

Recently I received a prize for corporate innovation. As I have considered this award, I asked myself what business innovation. My motto of business is Innovation, Solutions, Services, so what is innovation?

It seems like a simple answer, you can say that it means new ideas or new ways to view things. To me innovation means much more. It means being on the front of the industry. It means researching the industry you are in and then researching similar or thought-out industries and finding lasting solutions for your business. Successful solutions that bring you to perfect goals. Because it does not matter who you are, if you or your company has not set goals, you're not left and will always look out of the reality.

Trading account is a live breath. If properly organized, it will continue to survive long after the founder has gone. Therefore, as you can not go through life with the same skill you used when the child must grow and evolve as a business. As you go through the birth phase, start looking at ways to revive your customers and bring new customers to the door. Look at the most successful company and you will see this practice moment and time again. For example, it was time when McDonald had been happy to make cheeseburgers and chips and abandon it. But their marketers saw writing on the wall and they started offering salads and alternatives to traditional burgers. Carl Jr. started tapping them into their advertisements so they introduced the Angus hamburgers line. Now they are marketing the McCafe subject and updating their stores to be more "reap" with a modern look. They are no longer kids, but the young professional adult cafe. This change in marketing happened over time because they could see the trade and continue the process. It was preventative rather than reaction. Many owners of small assets are in a good state of mind and are therefore unable to transfer their business last year to five.

It's just one example of how companies must integrate innovation into their business model. Right now, I'm not saying you need to constantly update your business and introduce every dish to your business model. Fads come and go, you should not bankrupt yourself and always try to be on the front row. You can review each new policy and decide with your experience and demographic customers if anything could be for you. Things that work in New York City could not work or be practical in Stockton, Utah, and that's okay. Your customers will help you decide sometimes whether something will work or not. Also, instead of doing everything and making the change and expecting your customers to like it, try running for a limited amount of time and see how it is approved. Thus, your investment is minimal if it does not work for your business.

Another aspect of business innovation is to prepare a medium-term and short-term plan for growing your business. Since you do not want to bankrupt you by trying to implement everything overnight, make a plan of what you can actually implement now and in the near future to increase sales and stabilize your business. Then take what you want to perform for a year or two years and make a plan of how you will do it and what to do before executing. Set measurable criteria to make sure you're moving to these goals. And do not be discouraged if your program in one year takes some time, because some things are just hard to organize. It is important that you have a plan in place and that you are constantly reviewing the plan and adjusting as needed, but not just being freely adjustable and tempting things all the time, you have to challenge yourself to do it and then do it .

Finally, it's my personal opinion that I've put in the past 18 years in my life, that every owner of the company should be an innovator. You should always try to put your business at the forefront of the industry. Be a measure that other similar companies are measured against. Do not be left behind and become the dinosaur of the industry or worse than just another mortality on the highway to succeed.


The definition of the synthesis deficit

There are two trends today that are or should be for all entrepreneurs and business associates. Market today requires that every company assess at least how they respond to the ideas behind this trend.

I refer to a course to curb processes and innovation.

Over time, every company develops a certain amount of fat. These are processes, assignments and departments that do not serve the main objective of the organization. Essentially, they can be cut without affecting the ability of the organization to deliver value to its customers. Lean technology is intended to remove that fat from the organization.

Innovation is the bloodstream of most if not all organizations today. Being able to identify and determine new and better ways of doing things is bound to survive. Many things are not enough. You need to be able to radically improve or change the value proposition to compete successfully.

There are many types of leaning innovation. However, the most common use of the term refers to the use of direct technology in the research and development or research area. In simple terms, the prerequisite for research and development is the main source of new innovation, and that – like all other parts of the organization – it is accumulated in wastewater. In view of these assumptions, it is wise that fat is cut and R & D must focus on the projects that bring real value.

In this article, I will not substantiate the assumptions. Of course, most policy advisers would disagree with their value. However, in our value, they apply irrelevant – they are used to all that matters.

In addition, there are four main images that incorporate innovation:

1. Division of Information-Based Research for Experimental Research. A pilot project is expensive and wasteful. It is also very risky. After all, you could spend incredible time, effort and money when searching for discovery and never really finds it. The offensive attitude is very risky. Therefore, one of the first items that focuses on finding alternatives to pilot projects. In general, this is in the form of information. In other words, look for someone else who has done the experimental project and used the data.

2. Abolition of non-important projects . Over time, each organization collects tasks that either never longer or never provide customers with value. Lean technology aims at eliminating tasks that are not important.

3. Use of strategic or tactical partners. As in marketing, there are always agencies that focus on researching your area. Not all of these organizations are competitors. Establishing a partnership allows you to share the costs and results of research – information and experimentation. It can also allow you to share the costs and results of development measures and can really identify potential market participants.

4. Use of appropriate outsourcing. Founding partners are based on the idea that you do not have to do everything yourself. Unfortunately, you can not eliminate or not share all important tasks. Outsourcing of these projects can prove cheaper and risky than doing it yourself.


Innovation and creativity – How to make your ideas true

Everyone has ideas.

Every life trip every day, people have ideas. But not many of these ideas always grow into something real. The reason for this is that an idea is worthless until it develops the skills to develop it. Similarly, seed seeds are lifeless until it grows. Without the right environment, the idea is as dead as some seeds.

The ability to develop an idea is not a matter of money. The art of developing an idea is the most fundamental in business. It requires a number of talents and abilities. These skills need to be used to create conditions for growth.

FTSE 100 companies spend millions developing infrastructure simply to support this art. The venture capital fund and some investment banking have developed economic sectors dedicated to the practice of this art. There is a great structure that is present with the sole purpose of developing ideas in business.

Our business is working in this field. In fact, there are very few who have the ability to create the perfect environment for an idea on their own. But this should not be preventative. The greatest skill of all successful executives is to identify scope and develop solutions. We strongly believe that people should not be discouraged from following their ideas simply because they lack some common skills. They just need to use them from other places. The belief that you can do everything yourself is usually a flaw in business.

Imagine living in town and you noticed there is no homemade beer in the area. You do some market research and find that this is a huge growth in the UK. You have been able to find a car in the market. Congratulations on having a family backdrop in Brewing ale and then you decide that you will set up your own local Brewery in your home town.

Imagine now that you are a good owner of a pub in a small town. You are approaching a man who sells some kind of new beer. He enters with a few promotional materials and no clear brand. He does not show clearly and has no relevant information to give you information about the source and content of his product. After a 15-minute conversation, you can not understand what's different about your beer and why you want it. You quickly decide that you do not want a problem dealing with this company. Even if the beer is cheaper, you are not sure that they would deliver reliably or because your customers would buy it.

It sounds far fetched, but this is a very real difference between the ideas and the reality we encounter in companies every day. The fact is that the brewer had a very good idea to install the pier. There was probably a lot about this company he did very well. However, if you spoke to this broker, he would tell you that after doing the brew and running the company, he did not have time for such small activities like marketing and sales. After all, he had to buy and sell raw materials, produce his products, meet his accountant, develop new types of beers …

Small business owners and people who develop ideas tend to focus on their strengths. And they have many. Unfortunately, the value of the idea and your business is not higher than your lowest denominator. Think of running a company that provides a framework for your strength to shine. Nobody will pay attention to good sales technology if your brand is looking for hobbies. Just like no one will buy your big beer without being sure they can see their strength. The image frame for all small businesses or business ideas must be strong and consistent so that people can view the strength of the product / idea itself.


Innovation – 6 Steps to Innovation and Creation

Studies have shown that children are 95% creative when they are 5 years old. When they are 12, creativity has gone to 4%. This shows how schooling and development change the way children think and when they move more to adulthood, creativity is subject to submission.

Creation is important, especially in business, to be competitive, provide opportunities for staff and create a constructive environment that has no constraint on free thinking.

By transforming these creative ideas into action, companies can become innovations and leaders in their field.

Research has shown that highly successful companies are very innovative and have been able to integrate innovation and creativity into their business processes.

Interestingly, however, most companies consider actual innovation to be very important. However, they are low on the developmental model.

How do these very innovative business transforms from being traditional thoughtful thinkers to flow, open minded, and executives?

Step 1 – Innovation must come from the top and receive CEOs, direct managers and their teams below. Innovations of thought leaders must go through the agency.

Step 2 – Innovative thinking can only happen when teams are coherent, embracing change and are open to new ideas.

Step 3 – Everyone must support business vision or project and know that there are many ways to achieve these goals. Without this, not everyone is working on the same goal.

Step 4 – Provide encouragement and motivation by welcoming staff to receive and demonstrate new thoughts.

Step 5- Make time to be innovative. If your teams are busy with the built-up daily constraints in their business projects, there is little potential for creativity or time for innovation.

Step 6 – Be sure to have a process that uses and emphasizes creativity and innovation, as it will be successful in the idea of ​​effective reality.

There are some great courses and speakers available that offer technology to assist in new thoughts. Take the time to create your ideas and make them realistic.