One of the biggest thing that goes missing from corporate innovation program is which approach do they want to adopt for innovation. When the approach to innovation is not communicated with the employees, they get confused about what specifically to do and innovate.
Here are some approaches of innovation for organizations..
a. Product Innovation
This approach is useful for industries whose survival depends on bringing new products to the market. Here the whole intra-organizations communications need to revolve around new product ideas ideal for industries like Toy manufacturing, Stationary, Food Chains,
etc.
b. Process innovation
This approach only focuses on improving processes across organization. One of the best way to drive organization innovation in the first phase is process innovation. This innovation approach leads to getting insights from people who deeply engage with work processes on everyday basis and helps in showing innovation results faster to employees. This approach also spreads like wild fire as people who are constantly complaining can transform into innovators.
This is ideal for companies offering IT services, Hospitality Services, Insurance companies etc.
c. Customer Experience Innovation
This is an offshoot of the mix of the two innovation approaches mentioned above. This approach focuses on empowering employees to help better the end customer experience. This approach however requires a thoughtful strategy which can differ from organization to organization.
These are the 3 major innovation approaches that companies can adopt to begin with and then crystallize them further at level of execution.
More about innovation execution in next post. Let me know what do you think...
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