Innovation is challenging, no question about it. It requires vision, process, best practices, a team, and most importantly, alignment with company strategy.
The Path
- The Role of the Innovation Director or Chief Innovation Director
- Set the direction of the innovation strategy aligned with the strategy.
- Oversee initiatives within the organization.
- Ensure that the organization remains competitive and adaptable to the evolving environment.
- Implement the right innovation structure and tools to support the innovation processes.
- Focus on end-to-end innovation engagement -strategy to ideas.
- Capacity to Win
- Understanding the goals of the organization
- Understanding the capabilities of your team and your organization, where are the gaps? Insights, Ideation, Portfolio, Governance
- Making informed decisions
- Manage uncertainty.
- Use creative methods such as Design Thinking and Lean start-up thinking.
Goals and Objectives
- What is your purpose as an organization? You need to define.
- Gather insights and data on how you are performing now and how you want to perform in the future.
- Consider culture – how can you accomplish your goals with the culture you perform in?
- How can project management feed into the strategy, and the execution to achieve your goals?
- Post Implementation- do reviews on your successes or failures and learn and test for the future.
Implications
If you have a defined innovation strategy, process, team, and innovation mindset you can achieve growth.
Want more insights, strategy and innovation? connect with us at pearl-strategy.ca or John at johnchan@pearl-strategy.ca
Source: Online data, ITONICS, Oct 31, 2023
