Sunday, October 17, 2010

The Quest for Innovation

Organizations express a desire to be innovative. It is the oft-cited statement from countless corporate leaders who evoke it in mission statements and look to it to drive growth. But like many corporate goals, innovation is often more a vague, conceptual symbol that a clearly define process. On closer examination, few organizations truly commit to innovation in a measurable way with head count, process management, or funding. Gartner research recently identified five myths that threaten to derail even the best laid plans. They are:

1) Innovation just happens
2) Innovation only happens in R&D
3) The best innovation comes from inside
4) The more innovative ideas we generate, the better
5) We have lots of smart people, so innovating will be no problem

Dealing with the new economic normal of doing more with less, organizations need to offset the effects of this uncertain business environment and address these innovation myths.

Innovation will require structure and planning focused at recovery, return to growth and the resolving of the organizations most critical challenges.

By addressing the myths about innovation and by developing a new model for leadership organizations will be better positioned to achieve these objectives.

Innovation outside of R&D in areas like process, service management and user interface that  will increase the success rate and speed of new product, process and service development and deployment.

Organizations will continually look to outside collaborative innovations sources. strong leadership will harness innovative technologies to drive deeper more meaningful business relationship. New business models will be developed that increase business flexibility and speed to market.

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