In the previous article, I discussed how to make innovation business as usual. The final article highlights the advantages and risks to your organization of implementing your innovative vision.
A Commitment to Innovation is Going to Change Your Organization
Are you wondering if you can pull off changing your organization to be a dynamic, innovative and fun place to work? The answer is yes you can, but it requires considerable thought to the innovative environment you want to create.
Perhaps the biggest challenge facing the CEO when creating an innovative environment is to realize that it will not work if you always have to be the smartest person in the room. This is because organizational change is a collaborative effort and no one person has all the answers. You may have the vision but it is others will bring the idea from concept to fruition.
On the other hand, making a commitment to creating an innovative organization can have some very positive advantages thus creating a legacy for years to come.
10 Advantages of an Innovative Organization
The advantages if the type of innovative system outlines in the preceding articles are implemented include but are not limited to:
- A dynamic and aggressive vision for the long-term future.
- A huge increase in innovative ideas, viable products, new services and cost saving initiatives.
- A managed innovative process that balances ideation with management control without stifling the creative influx of ideas.
- Development of a whole new breed of forward thinking executives, managers and staff.
- Staff loyalty to both fellow employees and the organization. This will reduce turnover, provide career paths, increase staff visibility and boost morale.
- Positive image that can be used in attracting new talent.
- Establish or re-establish the organization as a leader in the industry.
- Raise the barrier of entry for competitors and competing technologies.
- An increase in the ability to deflect and/or assimilate disruptive technology changes in the industry.
- Establish a positive culture of change.
Potential Risks in Creating an Innovative Organization
Transformative change is not without risks. The concept and implementation will fail without:
- Total buy-in from executive and senior leadership for an innovative culture.
- Commitment to culture change; innovation must be the mindset.
- The identification and removal of dragons.
- Employee engagement which is paramount throughout the process.
- Proper ideation management. You must have a tool that can manage the ideation process including peer review, data, knowledge, O-Gap and reporting requirements.
- Patience: Becoming an innovative organization occurs only after innovation has become business as usual. This is a long-term process of 3-5 years if set up correctly.
- This model is at high risk if executives and executive teams in the organization are only there for the short-term to execute immediate financial impact.
The Globalization of Innovation
Access to ideas and information is no longer the privilege of largest or deep pocketed organizations. Thanks to the Internet, the availability of knowledge to all is leading to the Globalization of Innovation
The change in access to information is great news to innovative minds whose ideas and innovation are being generated in all walks of life across the globe. The days of tech companies and patent hoarders controlling IP and dominating innovation are rapidly becoming irrelevant.
As the globalization of innovation occurs those organizations unable to keep pace will be subject to disruptive changes, lose market share, relevance and eventually perish.
So the final question a CEO or business owner contemplating changing to an innovative organization should ask is:
“What are we waiting for?“
I hope you enjoyed reading How to Create an Innovative Environment in a Dynamic Organization. A full download of the whitepaper can be found in The Entrepreneur’s Toolbox.
Anyone can Create Ideas for Innovation
The next post will demonstrate how anyone can generate an enormous amount of ideas for innovation just by looking, listening and thinking about the world around them.
You can re-read any part of this series by clicking on the links below: