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Innovation

Business innovation at organizations is usually a formal process involving specific team members and going through a certain process within ideation labs. Yet, observations from different walks of life have shown that innovation is best triggered during meets involving people genuinely passionate about a particular task. For example, medical implementation solutions can best be ideated by people with a genuine interest in the same. They need not be technical members of the profession, but have some underlying self-interest. Organizations too must embrace innovators rather than treating experimentation as a cost centre. Similarly, these innovation labs must not be located at out of the way locations but discussions must be held where the real people are present. It must be inducted as a method to achieve strategic targets. This system may dissolve some of the powers of the top management, but it will surely bring tangible rewards for the organization.

Source:http://innovationexcellence.com/blog/2017/03/15/turning-the-innovation-tables/

 

Three of Australia’s companies have been cited for their excellence in adoption and subsequent implementation of business innovations. Almost by accident a researcher at CSIRO discovered Wi-Fi. Planet Innovation was responsible for developing the most useful as well as mobile hearing aid. They recently collaborated with Sapien to develop a digital diary system. This and several other practices have led to the company receiving an award for innovation. The Commonwealth Bank of Australia has been cited for their innovation to the field of HR. They have developed programmes for the onboarding process of new employees using the latest technology in Oculus Rift. Further, they have innovation labs present across Sydney, Hong Kong and London. All data is recorded to analyze trends before discussing solutions on those.

Source:http://www.businesszone.co.uk/community/blogs/kirsty-tanner/lessons-from-australias-most-innovative-companies

 

Design thinking and related aesthetics has become a major driver of business success in the digital age. That is why a latest survey has listed out the ten companies which have the most innovative content design. Topping the list is the erstwhile Snapchat, now simply known as Snap. Their major business innovation has been a wearable glass camera. Next on the list is Airbnb due to the innovative experiences people can explore at the tip of one’s fingers. Third on the list is Adobe for creating a cloud based agile software. The next two on the list are Intuit and Carnival for easing tax preparation and designing sea friendly wearables respectively. L’Oreal makes it to the list on the basis of developing stretchable electronics for the skincare market. Ammunition and Frog come next on the list for easing work with unconventional clients and helping startups with design work respectively. The ones completing the list are Work & Co and Dyson. The former has developed tools to help companies frame their corporate strategy and the latter has leveraged nuclear technology to develop a hair dryer.

Source:https://www.fastcompany.com/3068431/most-innovative-companies/the-10-most-innovative-companies-in-design-2017?partner=rss

 

There are different approaches to ideating and then executing business innovations. In some organizations, a proper structure and team exists while in others the word structure is abhorred when it comes to innovation. A lot of organizations these days believe in the mantra that innovation is a pervasive task to be taken care of by the entire workforce and not the role of any individual or team. This approach allows the top management a hands-off role. Five innovation roles have been identified. The first of them is that of Revolutionary who generate and then share their ideas. There is the Connector who joins disparate forces within the team. Then there is the Customer Champion who does the customer interactions. The Magic Maker implements the ideas or solutions already developed and put in place. Finally there is the Evangelist who spreads positive word across the organization on the innovative projects taken up and their ensuing results. Google is one of the most successful organizations when it comes to innovating. There are five factors prevalent at the company that has made the same possible. There is first and foremost the psychological safety as employees know that they will not be punished for failing in the risks undertaken as long as the intentions were positive. The structure is such that team members can depend on each other. The corporate communication is clear thus eliminating unnecessary ambiguities. The team members are all thus apprised about their respective roles. Equally important is the fact that the members are made to feel that their individual work is important.

Source:http://www.business2community.com/brandviews/qmarkets/3-best-innovation-team-formulasand-ignore-01785966#1pdWDFRZLpmgFyC6.97

 

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