Innovation Management

Innovation Management

Critical Thinking Writing

Management of Innovation

In an innovation focused companies there is huge problem in managing the innovative and creative ideas generated at an instant. Companies dealing are not able to manage properly due to hurdles they are facing due to their working strategy and human resource structure. These companies need to change the management strategy of their company which depends on the business of the company or the kind of innovation. Different companies face different issues in their planning and information sharing management. For example a company like Pixer which is based on creative arts must have a mobile computer enabled everywhere else the employees working in the company will not be able to produce their idea at that instant and they will lost their unique thinking style for the art while companies which are based on innovation must monitor and record each and every information carefully as any information can be the milestone of the innovation. So it is an established facts that a proper planning and strategy is required for effective sharing of information and innovation ideas in an organization and there is no hard and fast rule for making those plans and strategy, every company has think about it on their own.

Key Issues in Innovation Management

Reinvention of our Business Model

One of the biggest key issue companies are facing in their re-innovation. For making their information system better for innovation they need to reorganize their structure and their employees. Every company needs to think and decide about the rules and regulations for their employees. While most companies have proven processes for product innovation in place, only few follow process models for innovating business models. If companies want to survive this 21st century then most of the business houses need to do a re-innovation in itself. For example the Biggest Mobile handset manufacturing company lost its shine from the last 4-5 years because of lack of innovation in their products and organization as well while the other manufacturers like Samsung or Apple on the same period rises to their fortune due to fall of the giant Nokia.

Innovation through Open and Social Connection

Growing complexity in tools and technology developed, organizations are finding it increasingly impossible to be successful when entirely working and depending on their own employees and services. For making better innovation environment they collaborate with other institutions for the same cause which helps in sharing the burden and sharing the same information in a broad region and among the masses. To move innovation forward more effectively and efficiently, they aim at building appropriate networks and partnerships. Recent research shows that the employees are doing better in shared environment because of the competitiveness between the employees of the two companies. If we combine both internal and external capabilities only then companies can thrive in this environment where each and every company struggling for their survival.

Culture of Innovation within Organization

Organisations need to develop a collaborative environment culture as well as innovative culture. Innovation capability is in our hand and can be improved through practical knowledge and experimentation. Practical training given to the employees enriches their understanding of the concept and they perform better. We often think that great businesses are built basically on great ideas but the story is very different from our belief that great businesses are usually built by great innovative ideas and unique concept. Experimentation is considered as an organizational skill so only an organization is responsible for the experiment that’s why atmosphere within the organization must be creative and motivational which will help in making employees more productive so that they can give their best during work. It can be solved using incentive approach. Best idea chosen must be given award.

Integrated and Differentiated Concepts of Innovation

Sustainable innovation means which is beneficial for both human and environment and does not produce pollution in any case cannot be achieved by only a single person approach. It requires a common understanding among all the people within the organization on particular products and its variables. Only then product can be realized. Further, innovation is about balancing complementary, and often opposing, variables. Therefore, integrative frameworks may help to gain a more realistic perspective. For example, innovation matrix can tell us about the problems faced by the company and it helps in assigning a particular task to a suitable individual. Depending on the characterization, a tailored approach can be developed in order to define where innovation should sit in the business model and how to drive growth.

Other people may well come up with other innovation issues that are important. There can be other issues with innovative organization as everyone’s work culture and environment is different from each other. But In addition to all these companies should focus on security of their innovative ideas as these ideas can be beneficial for other companies as well so they may try to steal it from your database or offices. So companies must also care for the security and integrity of the ideas they are generating during office hours. At individual levels we face the same issue in idea management as each and every person is different from each other so it becomes very difficult for companies to give different direction and job profiles to the right candidate and most of the time it happens that the employees are not in their right position at the right time. So we need to take care of this problem as well so that employees can give their best. Now we just need to start making progress on them! Therefore, we’ll try to elaborate on these issues in the time to come, in order to provide further ideas to help make innovation more successful.

Reference

BIBLIOGRAPHY l 1033 Andrew. (2010). Central Problems in the Management of Innovation. inForms.

Lynch, R. P. (2002). Four Critical Skills for Managing High Performaance Alliances. Netherlands: Imperiel College Press.

Margaret Alice White, G. (2010). The Management of Technology and Innovation: A Strategic Approach. In G. Margaret Alice White, The Management of Technology and Innovation: A Strategic Approach.

White, M. (2014). The Management of Technology and Innovation: A Strategic Approach (2nd ed). South-Western.Retrieved from http://online.vitalsource.com/books/9781285214573/Root/0

White, M. (2014). The Management of Technology and Innovation: A Strategic Approach (2nd ed). South-Western.Retrieved from http://online.vitalsource.com/books/9781285214573/id/ch3