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5 ingredients for successful corporate innovation

Each enterprise is simply obliged to introduce innovations for survival in the world of business. But how to do this, if everything developed by others has already been grabbed and taken away, brilliant ideas do not come to their mind, as a result of which innovative processes do not start? The answer lies on the surface – to use available assets. Here are five tips that you need to do first of all to organize innovative activities and ensure a successful result of projects launched into development.

1. Free innovation leaders from routine work

Top management should free people with great potential in the development of innovative methods and technologies from standard requirements and protocols, allowing them to develop their methods that are better suited to implement their ideas. Do not require graphs, reports, forecasts, or anything like that from them hbogo com activate.

You must understand that the newer the idea, the less suitable it is to “miscalculate” its effectiveness by previously developed methods. Strategic planning, comprehensive market research, quarterly forecasts, and three-year business plans are all fine, but only for an existing product. These studies can help calculate the efficiency coefficient, but at the same time seriously limit the implementation of innovative technologies, because they cannot be calculated.

2. Encourage risk-taking and do not punish mistakes.

To create commercially successful products, pave new your own paths in design, marketing, and sales. The main place you should take is not beaten paths and algorithms, but experiment. Each experiment gives a new understanding of the most valuable properties of the product or indicates directions for effective entry into the market.

Moreover, each experiment faces uncertainty and is a great risk for the business owner. Yes, only one who does not risk is not mistaken, but it is he who, according to popular wisdom, do not drink champagne.

Large enterprises, as a rule, are extremely intolerant of employee mistakes, and therefore do not create innovation. But for a literate person, every mistake is a source of information that indicates what needs improvement and where.

Therefore, corporate governance, which decided to support its creative employees, should be sympathetic to failures, thereby encouraging employees to look for new ways and methods for successfully building innovative programs in the field of new promising areas of business development.

3. Provide support and protection from within.

Innovative leaders should have competent, understanding and interested curators who can provide comprehensive support to their wards. Top management changes from time to time, forget details and plunges into other matters, which means that it can make changes in corporate policy or in the current conduct of business, which can distract the innovator from his main job.

Meanwhile, creative people can only show results in a stable, calm environment. Delegate the responsibility of a certain person to ensure that such unique people are given a certain freedom of action, that their affairs are considered paramount and that possible conflicts are extinguished even at the stage of their inception.

4. Open access to corporate assets

Incorporations, as a rule, assets are fragmented, and co-owners are afraid to provide their funds to another unit for conducting innovative research and implementation of the obtained developments. This can be a serious obstacle to successful innovative programs.

A business is not a bastion of democracy; top management should play a leading role in balancing the legitimate needs of asset owners and their innovative leaders. They should convey to all managers that innovative programs have the highest degree of priority, and even provide loopholes to help innovative leaders circumvent some bureaucratic obstacles to access to assets.

5. Accelerate meeting with customers

Innovative leaders should get their first customers as quickly as possible because with their help you can find product reviews, check the business model and get the first profit. But in practice, usually everything is different: sales managers do their best to keep secret information about their customers to fulfill their own sales plan and get premium ones.

The solution to the situation is again in the hands of senior management, which in various ways, including monetary compensation, should establish cooperation between full-time managers and developers of innovative programs.

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