Wednesday, April 12, 2017

The Monthly “Unpuzzling Innovation” Book Tuning: Digital Innovation Roadblocks Apr. 2017

Digital is the age of innovation. And innovation is what leads to differentiation. There are many ways to differentiate and, therefore, there are many ways to pursue innovation. Talking of innovation is not new nowadays, everybody, every organization now is talking about innovation. It's been at or near the top of the business or economics agenda for a long time. However, there’re a lot of confusions about innovation and there is no magic sauce to guarantee its success. Back to basic, what is innovation, the more you look into this topic, the more difficult to give a definition of innovation, as it is such a broad topic? One of the good definitions of innovation is: "to transform the novel ideas into commercial success.” In essence, innovation is, "intentional novelty bringing sustainable benefit."

                 Digital Innovation Roadblocks

Leaping Innovation via Overcoming Roadblocks: Digital is the age of innovation. From the management perspective, innovation is how to transform novel ideas to achieve its business value, and innovation is what leads to differentiation. Due to the hyper-complexity of modern businesses, innovation is essentially about reducing the unnecessary business complexity to tackle the complexities of business dynamic. Innovation management has an overall very low success rate. So, what are the roadblocks to cause innovation failure, and how to overcome them in achieving the high-expected result from innovation management

The New Book “Unpuzzling Innovation” Introduction Chapter 7 Innovation Gaps and Pitfalls? Innovation is the light every forward-looking organization is pursuing. However, for most businesses, innovation is still serendipitous, not so many people like innovation, because innovation stands for risk, and that associated with trouble, and innovation management has an overall very low success rate. It is crucial to examine the causes of failure in innovation, the gaps and pitfalls on the way. The objective is to raise awareness of what’s needed to improve the probability of success and make the innovation journey more delightful.?

Innovation vs. Rules Innovation is to transform novel ideas and achieve its business value. Innovation is doing something better than it currently is. Hence, it requires a sound and competent understanding of what is currently being done. Innovation is not serendipity, it's a mindset, a process, and the strategic business capability nowadays. From innovation management perspective, should innovators break rules, or does innovation need rules, and how to improve manage innovation effortlessly and improve its success rate?

The Root Causes of Innovation Failures: Innovation is the light every forward-looking organization is pursuing. However, for most businesses, innovation is still a serendipity, and innovation management has an overall very low success rate. The reasons why innovation failure occurs vary widely, but dig further, here are some root causes to fail innovation.

How to Avoid Pitfalls in Innovation Management  Innovation is both art and science. Innovation is a systematic way of applying creativity in the real life and business. In general, business innovation is a management discipline, and innovation management has an overall very low success rate. The reasons why failure occurs vary widely, it is no wonder why many leaders are reluctant to act on bold ideas with good business potential due to the high likelihood of failure. So more specifically, what are the pitfalls in innovation management and how to manage innovation more effectively?

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