6 basic questions on innovation management

6 basic questions on innovation management

Innovation is a very broad concept that can be approached in different ways. A few questions may help you to understand it better:

1. What is innovation?
Innovation is about using knowledge to build a new path that leads to a goal. It can be a new idea or method that results in a product or service that creates value or for which customers are willing to pay. The essence of innovation is improvement, the ability to create something better and launch it into the world.

2. How is innovation managed?
Innovation management refers to the use of all activities necessary to "introduce something new". From a company's perspective it is about employees coming up with new ideas, developing, prioritising and implementing them and putting them into practice.
It therefore refers to the continuous process of devising and introducing new improvements that have an impact on business development. This can be done, for example, by launching new products or introducing new and improved internal processes.

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3. How is innovation approached?
Innovation can be approached in different ways, but it is advisable to adopt a holistic approach that takes into account the different aspects of innovation. To do this, the best option is to break them down and analyse each one separately.
We approach innovation through:

  • Capacities
  • Structures
  • Strategy
  • Culture

Each of these four aspects must be considered when innovating. It is not enough to do well in just one of these areas, as you need all of them to work in order to be successful.

4. Why is innovation important?
Innovation is one of the sources of economic growth, collective well-being, education and sustainability at all levels.

The world around us is changing at a rapid pace and the ability to innovate is inevitable if we are to remain competitive and keep up with these changes.

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5. How do you succeed in innovation?
There are many ways to innovate and success depends mainly on individual aspects such as the market in which you operate, as well as the capabilities and characteristics of each company.
When it comes to innovation, there is no guarantee that previous success will be repeated automatically, as success also depends on other factors such as time and structural aspects of your organisation:

  • Constant improvement
  • Creating value for customers
  • Identification and retention of talent in the organisation
  • Implementation of tools and methodologies to make things happen
  • Strategic vision
  • Implementing ideas rather than just talking about them.

6. How to boost Innovation in your company?
By following a few simple steps any company, regardless of its size, can begin to implement a culture of innovation in the organisation. To do so, it is necessary to:

  • Establish clear objectives that are aligned with the strategy
  • Constantly improve your organisation's capacity for innovation
  • Keeping the customer at the centre and creating value
  • Build a culture of innovation by promoting active collaboration
  • Find the balance between short and long term performance

En Qaleon, dentro de nuestra gama de productos y servicios, disponemos de una aplicación llamada InnoApp que mide la percepción que tienen los empleados para saber si una empresa es innovadora e identifica las áreas de mejora : https://qaleon.com/innoapp/

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