Tuesday, June 6, 2017

The Monthly “Unpuzzling Innovation” Book Tuning: Leap Innovation via Overcoming Barriers June 2017

Back to basic, innovation is, "intentional novelty bringing sustainable benefit."

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, innovation is, "intentional novelty bringing sustainable benefit." Innovation management is a thorny journey with ups and downs, how to make a leap of innovation via overcoming those barriers and obstacles?

    

  Leap Innovation via Overcoming Barriers

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

Three “Do Not” in Digital Innovation: Innovation involves new ways of bringing together ideas and resources to create something novel and then transform those novel ideas to achieve the business value. It's obvious that innovation is being pursued now more than ever, and in fact, we see much more innovation in more and more areas of the business landscapes. Digital innovation has an expanded scope and innovation is benefiting the widest audience of the digital ecosystem. Still, there is the high percentage of failure rate for innovation management, and innovation success rate is not always proportional to how much money you pour in. Innovation is more science than art in the digital era though. Here are three “Do Not” in digital innovation.
  
The Achilles Heel of Innovation Management Businesses today face fiery competition and rapid digital shift either technologically or economically. Most of the organizations are focusing on improving margins by reducing the bottom-line cost rather than top-line growth; because innovation and risk are proportional, also because very few organizations can master innovation and generally it has a very low success rate. So what is the Achilles Heel of innovation management? And how can organizations improve their innovation capability and reap more business benefit from it?

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?

Three Silo Effects to Stifle IT Innovation: Forward-looking organizations are reimagining the digital potential of IT and reinventing IT reputation from a cost center to an innovation engine. However, the majority of IT organizations still get stuck at the lower level of maturity, running as a siloed function. Despite the mountain of evidence pointing the detrimental effects of these silos, they still seem to be quite common in the organization. What are the root causes to silos? Are silos a mere product of organizational design? Or is their nature tied to human nature? What are silo effects which stifle innovation, and downgrade IT effectiveness and performance? What would be some ideas to assist in breaking down silos in an organization where they are present?


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