What is your Return On Innovation?
The problem is that repeating innovations is impossible. If you repeat them, they are not innovations anymore. And when you look back on your old innovations to learn from them, ask yourself if you are looking at a series of lucky incidents that somehow ended up as innovations?
So is this my innovation process?
But how do I manage something like this? It’s hardly a process? John Bessant describes this as spaghetti innovation where knowledge is mixing up like spaghetti and somehow luckily creating connections that end up creating innovations. In order to manage innovations we need a process that actually doesn’t create innovations but makes the probability of these knowledge connections to occur. We need a process that directs our efforts and investments on creating innovation.
Successfully direct your innovation efforts to generate ideas. Have an idea evaluation flow that processes ideas in order to enrichen your project proposals. Having strong execution of projects is crucial part of a successful innovation process. Seamless management of these four processes enables you to have business intelligence that makes your return on innovation visible.
More insights on how to successfully build an innovation process, that makes most of your invested resources, will follow as we dig deeper on the five process stages of innovation life cycle.
Markus Halonen/Keto Software