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Monday, October 5, 2015

5 Great Tips For Innovation Management

How to innovate?

How to think differently?

How to think out of the box?

Are you carrying the responsibility to manage innovation in your organization? Are you feeling challenged to get your team think of newer ideas?

Here are 5 Great Tips for Innovation management which will help you answer the questions asked above:

Observe The Trends - Be it business innovation or technology innovation you will always need to observe the trends. The more you observe the more you learn. The more you learn the more you empower yourself to observe. It is a recursive process. Follow the leaders, HBR, Mckinsey, Accenture, Deloitte are some of the industry leaders that you may want to follow for reading the latest industry trends.

Think Opposite - This does NOT mean think negative, all it means is that think in the other direction. If someone asks you the all the possible ways in which things can be done then think about all the possible ways in which it cannot be done. It will give you a habit of critical thinking as well as the ability to strike the odd ones out.

Keep It Simple - Some people invest too much time thinking, that is, they overthink and make it too complex. They forget to keep it simple. If we look at some of the great innovation examples then we find that some ideas are really simple and in front of our eyes. For instance take the innovative ideas of the Great Mahatma Gandhi, simple ideas like Truthfulness, Experiments with truth, Satyagraha(Insistence on truth), Non Violence and Non Co-operation are so simple yet so innovative and so practical.

Marry Two Different Ideas- Advertising industry thrives on innovation. Ever wondered how 20 to 30 seconds of advertisements are so different and impactful? and how advertisers are always able to come up with such great innovation examples? Here is what they do: They think of two completely different things and then marry the two with a story. So they don't necessarily think of how to market their product, instead they take two great but different ideas and then they come up with a story that connects the two ideas.

Hunt For New Technology - Technology is getting advanced with every day, minute and second. Networks are becoming faster, people are becoming smarter, desktops are giving way to laptops, laptops are giving way to tablets and tablets are giving way to smartphones. In order to compete and be ahead in the innovation process/ innovation strategy your organization needs to continuously hunt for newer technologies. It is required that the leaders not only understand the pace at which things are changing but also identify the right areas where these technical ideas and technical innovations can be put to execution.

Conclusion: One needs to keep eyes and ears open in this fast changing world. It is a blink and you miss kind of situation these days, where the competition is waiting for you to make one mistake. If you need to manage innovation in your organization you need to be super proactive and continuously motivate your team to follow the principles listed above. Remember, at the end this is a team effort and together as a team you can innovate a lot more than what you can do individually.

If you read this post, you will definitely like to read the following:

4 Great Examples of Presence of Mind

15 Leadership Qualities of Great Project Managers