What is innovation? Essentially, it is where an idea is created and then selected, after which it is developed from an idea into an actual thing. It is vital that businesses encourage innovation, as it gives them a competitive edge. This can be done in a variety of different ways and all these ways come under the umbrella term of ‘innovation management’. The goal of all the strategies that come under that umbrella is to make sure innovative ideas are fostered to the benefit of the organization.
The process is complex, yet very clear at the same time. The biggest clarity is that there will never be an immediate end result. Innovation is an investment in a better future and investments can always go either way. You may determine whether the likely outcome is positive or negative, but there are always other forces that could completely throw the eventual results. It is because of this uncertainty that many businesses avoid innovation management, but that is actually a bad mistake.
What matters is that you approach this properly. At the heart of that lies giving every single employee the freedom they need to come up with creative ideas. In all likelihood, around 99% of their ideas will be useless, but it is that 1% that is there, in someone’s mind, that you are looking for. Creativity must involve everyone and cannot be bound by hierarchical position, age, gender, experience or anything else. It must be an all or nothing approach.
Complete freedom to be creative means that the same freedom must be extended to the decision making process. Practically, it isn’t possible to invite each employee to a huge meeting, during which each individual idea is discussed. However, there are other ways out there, including group meetings, that foster innovation. The intranet is also a very powerful tool, whereby people can select the ideas they do and do not like in an anonymous way. But do make sure not every decision is made based solely on electronic communication as it then loses its personal touch.
Innovation management is incredibly important and can truly benefit your business. However, the results are long term and you have to be willing to wait. In almost every case ever documented of successful innovation, ideas don’t actually start to work until the entire process has been nearly completed. But you have to start at the beginning, instead of always looking towards the end goal. The beginning involves making sure your business fosters a culture of creativity in which all views are respected and listened to, even if they are not implemented at the end of the day.
Changing a company’s culture is hard. You must also change the mentality of employees so that they know that it is ok to share ideas, even if the idea is then turned down, or if they, themselves, believe the idea to be a bit silly. This is generally the biggest challenge of all within innovation management but one that can be overcome.
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