Good day...
Today everyone talks about innovation. Across all industries and all levels, innovation might be a trending topic in majority of articles and postings, be it in social media, web sites, magazines, news papers and any media you can name of.
I believe all of you would agree with me that innovation is now inevitable in any organization. The question is, how much innovation an organization should pursue? Doing the things just like they have always been might not be good enough anymore to survive in this competitive world. On the other hand, doing too much innovation might risk the existing business. Also, bear in mind that any kind of innovation requires investment, resources, and management focus.
Coming back to the question on how much innovation is right for an organization, I see that there are several key factors to be considered by the management in order to answer this question. First, you need to look at your ecosystem, including:
1. What industy is your organization doing business in?
2. What is the market condition of the industry today?
3. What are the competitors doing better than you do, especially in relation with customer experience and services?
Once you can comfortably answer the questions on external factors, now it's time for you to look into your internal organization. Some of the key questions you will need to address include:
1. Define the target state you want to arrive at in another one, three and five years
2. What is your current state and how far are you from the target state?
3. Do you have the right capability, organization assets, and resources to drive the organization toward the target state?
Last but very important question is to be honest with yourself on how serious you want to bring your organization to the desired state. Remember that innovation is not a side job in your organization focus. Once you decided that innovation is non-negotiable for your organization, then it's time to go and pursue the desired state.
-Edwin-
Today everyone talks about innovation. Across all industries and all levels, innovation might be a trending topic in majority of articles and postings, be it in social media, web sites, magazines, news papers and any media you can name of.
I believe all of you would agree with me that innovation is now inevitable in any organization. The question is, how much innovation an organization should pursue? Doing the things just like they have always been might not be good enough anymore to survive in this competitive world. On the other hand, doing too much innovation might risk the existing business. Also, bear in mind that any kind of innovation requires investment, resources, and management focus.
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| Picture credit: jarmoluk |
Coming back to the question on how much innovation is right for an organization, I see that there are several key factors to be considered by the management in order to answer this question. First, you need to look at your ecosystem, including:
1. What industy is your organization doing business in?
2. What is the market condition of the industry today?
3. What are the competitors doing better than you do, especially in relation with customer experience and services?
Once you can comfortably answer the questions on external factors, now it's time for you to look into your internal organization. Some of the key questions you will need to address include:
1. Define the target state you want to arrive at in another one, three and five years
2. What is your current state and how far are you from the target state?
3. Do you have the right capability, organization assets, and resources to drive the organization toward the target state?
Last but very important question is to be honest with yourself on how serious you want to bring your organization to the desired state. Remember that innovation is not a side job in your organization focus. Once you decided that innovation is non-negotiable for your organization, then it's time to go and pursue the desired state.
-Edwin-
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