Innovation can involve small incremental changes, disruptive paradigm shifts, and … everything in between. These changes can impact the products and services you deliver, the processes you use, and the business models that define your work.
Different opportunities can, in fact, be found in different types of innovation, including incremental process innovation, product innovation, and business model innovation.
You may ask then what the correct approach to innovation is. It mostly depends on the type of outcome you seek: The more disruptive your program, the more offline and “push-type” programs you must implement. The more incremental your desired outcomes, the more inclusive and “pull-type” your programs should be.
An online engagement solution, why?
We’ve examined a large number of corporate innovation programs and observed that, even when the primary goal is disruptive innovation, the most successful programs also have in place a more pervasive, inclusive, and engaging incremental program.
These programs are most often supported by some software-based solution that allows employees to contribute and add value. An idea management software (with Exago being a leading platform) is the ideal way to mobilize a broader audience inside and outside your firm. At Exago, we believe most of your business challenges can indeed be solved by engaging your people and unleashing their hidden potential.
Insight: A 2008 Gartner study predicted that two-thirds of Global 1000 companies would have formal technology innovation processes by 2010.
I dare say that 75% of Global 1000 companies will have these processes in place before 2016.
The online/ offline balance
So, if your goal is incremental innovation and you’re happy with your innovation software program, you’ll need to balance online activity with offline. Software makes a world of difference, but it can’t replace a group of people working together in a room ideating, elaborating upon an idea, and accelerating a venture.
Offline events should be structured so they don’t waste time and achieve the desired results. Ideally you’ll have a catalogue of offline programs that you can easily draw from whenever you need to unstick an idea or accelerate a stalled opportunity.
FROM THE START: Innovation looks easy – it’s not