To ignite innovation within an organization an overall plan must be developed and implemented which identifies how innovation will be instilled within a company, its specific innovation strategy, and the areas on which it will focus its efforts. When this is coupled with the establishment of a culture of innovation, this results in the creation of an entire “innovation ecosystem” within a company that enables it to become a market leader.
To create an inexhaustible stream of innovation and avoid being a “one-hit” innovation wonder, a platform for innovation needs to be established within a company that solicits ideas from employees, customers, its supply chain, and the public. Then by training its personnel to think entrepreneurially and developing fully engaged employees these ideas can be turned into innovations – thereby enabling an organization to achieve a strategic competitive advantage.
Use of an intentional process is necessary to “operationalize” innovation within an organization. This includes empowering and releasing the company’s personnel’s creativity by providing “Innovation Master Tool Set” and training them on the use of it. Then, the organization needs to properly recognize, reward, and celebrate its innovation successes. Lastly, ongoing coaching and guidance must be provided to keep the fire of innovation burning strong within their employees, thereby sustaining the company’s focus on innovation.
It is crucial to utilize innovation pipeline management software to collect ideas from employees, customers, its supply-chain and the public, evaluate the ideas, and develop them by applying the necessary resources to them. By tracking the status of each idea, staying in touch with the idea submitter, producing metrics on innovation results and providing overall reporting on the effectiveness of the organization’s innovation efforts the system is able to weave innovation into the very fabric of a company.
