Improving innovation performance

Incorporating the knowledge and experience gained from innovating into the next round of innovation can be made easier through engaging key stakeholders in the learning process, and embedding the knowledge gained into the business's policies and training.

Build on the knowledge gained from the innovation experience by drawing on other people's experience with innovation. Look to take the next step in broadening your networks and those of other employees within the business. Innovation is collaborative and the more ideas flowing into the business from numerous sources the better the opportunity to convert an idea into an innovation.

Think about your organisation's culture: Has it shifted from the start of the innovation adventure to now? Think about developing a culture of innovation so ideas are constantly generated and processes are in place to convert ideas into innovations. Innovative businesses have both corporate and employee incentives.

Innovation is a big idea with big potential. It is wise to approach it in small steps, implementing just one or a few of the ideas and building from there. For many businesses, the initial steps on this value-creating journey are the most critical of all (Barsh et al. 2008).

Innovation is about constant improvement and the process of innovating should be viewed the same way.

References

Barsh, J, Capozzi, MM and Davidson, J. 2008. 'Leadership and Innovation'. McKinsey Quarterly, no. 1: 37.

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