Building an Innovation Toolbox

Innovation is challenging, no question about it. It requires vision, process, best practices, a team, and most importantly, alignment with company strategy.

The Path

  • The Role of the Innovation Director or Chief Innovation Director
    • Set the direction of the innovation strategy aligned with the strategy.
    • Oversee initiatives within the organization.
    • Ensure that the organization remains competitive and adaptable to the evolving environment.
    • Implement the right innovation structure and tools to support the innovation processes.
    • Focus on end-to-end innovation engagement -strategy to ideas.

  • Capacity to Win
    • Understanding the goals of the organization
    • Understanding the capabilities of your team and your organization, where are the gaps? Insights, Ideation, Portfolio, Governance
    • Making informed decisions
    • Manage uncertainty.
    • Use creative methods such as Design Thinking and Lean start-up thinking.

Goals and Objectives

  • What is your purpose as an organization? You need to define.
  • Gather insights and data on how you are performing now and how you want to perform in the future.
  • Consider culture – how can you accomplish your goals with the culture you perform in?
  • How can project management feed into the strategy, and the execution to achieve your goals?
  • Post Implementation- do reviews on your successes or failures and learn and test for the future.

Implications

If you have a defined innovation strategy, process, team, and innovation mindset you can achieve growth.

If you want insights, strategy or innovation connect with us at pearl-strategy.ca or Susan Weaver at 416-908-2446.

Source: Online data, ITONICS, Oct 31, 2023

2023-11-06T10:14:12+00:00 Health & Wellness, Innovation, Strategy|