Check out this week’s podcast show on Capturing & Creating Innovation
How much of innovation is inspiration, and how much is hard work? If it’s mainly the former, then management’s role is limited: Hire the right people, and get out of their way. If it’s largely the latter, management must play a more vigorous role: Establish the right roles and processes, set clear goals and relevant measures, and review progress at every step.
Innovation is real work, and it can and should be managed like any other corporate function. But that doesn’t mean it’s the same as other business activities.
As Peter Drucker so eloquently states, innovation is the work of knowing rather than doing.
How is innovation created:
Knowledge Innovation – knowledge innovations such as the computer, the automobile, an many other examples like this. Knowledge based innovations are vital to the ever changing economy. However, more than likely you many never have interact with a knowledge based innovation unless you’re an inventor. If you find yourself with a knowledge base innovation on your hands, be careful knowledge-based innovations can be temperamental and hard to direct. It’s not that they can’t be managed it just that you must have a good logistical system in place for them to be executed properly so you’ll be benefited.
Unexpected – Unexpected successes and failures are such productive sources of innovation opportunities. It behooves us as leaders to notice the unexpected success and failures and see how we can seize upon them for great innovation.
Viewpoint – A shift in viewpoint can create innovation. Look at something from a different perspective and it will clue you in on something that you never saw or thought about before.
Innovation requires knowledge, ingenuity, and, above all else, focus.
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