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Executive with a Track Record in Developing Growth Strategies and Solutions: I have devised and implemented winning strategies that have opened up new markets and business opportunities. I have developed strategies that address customer/market needs, secured buy-in from executives/board, motivated the functional organizations to deliver and launched successful products & business models.

 

Family Man: I enjoy spending time with my beautiful wife and two lovely kids. As a family we are a good mix of outdoors and indoors. My son and I are pretty much outdoors and sports oriented while my daughter and my wife like the indoors. This diversity of interests helps us maintain good balance in our lives.

Why? What? How? and Who? of Innovation

9 Apr, 2015
11078

Why_What_How_Who_Innovation

Many of us are often amazed by  Innovative companies. We often read about their successes, and then aspire to do the same. But often we do not know the answers to the following questions:
  1. Why is Innovation important?
  2. What is Innovation?
  3. How do you go about Innovating?
  4. Who can drive innovation at your company?

Here are the links to few interesting blogs that answer these questions. Here is a link to my profile.


Why Innovation

Why do we need Innovation? Why can’t we just stick to our knitting?

“Top 5 reasons Successful Companies Focus on Innovation” is a blog that addresses these questions.

 

What is Innovation

What is Innovation? What are the different types of Innovations?

Innovation is about connecting some known and unknown dots to build something that has never been build before. It is serendipitous, as you connect some dots that you came across many months ago with some dots that you came across just now to create new products, services, business models and processes. Here is a great article from FastCompany on “What is Innovation?”. Inc magazine article provides a tactical definition here.

There are many different types of innovations. I believe in customer experience driven innovations as discussed in my Innovation focused on Customer Experience. The example discussed in this blog is “Business Model” innovation. There are more examples of product, service, brand, disruptive innovations across my blogs.

 

How Innovation

How to Achieve Innovation?

This is a loaded question. This requires building the right culture, developing right processes, hiring good talent, ensuring good execution and practicing persistence. A lot goes into being successful with Innovation. Here are few blogs on various aspects of achieving innovation.

Following a repeatable process that helps in thoroughly evaluating an idea is essential. Here is a blog on innovation process.

Strategy Frameworks for Innovation helps in devising the right strategy for innovation.

5 Steps for Setting Innovation Goals discusses the steps for setting the right goals focused on customer experience driven innovation.

Here is a blog on a need for separate Innovation metrics.

Soon, I will  blog about the need for Innovation Culture and post a link here.

 

Who Innovation

Who should lead Innovation?

This is a tough job, and you need someone who is not only visionary but possesses other essential characteristics to successfully innovate. Top 10 characteristics of Innovation Leaders highlights the leadership qualities required for successful innovation.

Having a good leader is not enough. As discussed in this blog, Innovation influencers play a key role in successful innovation.

Last but not the least, Innovation needs the support of the CEO without which it will not foster. CEO’s need to invest equally in running the current business as well as innovation, as discussed in the blog about ambidextrous CEO. The head of innovation at a company needs to report to the CEO.

Before you get on the Innovation bandwagon, ask all the questions and see if you have everything needed. Let me know if you have any other burning questions about innovation.

Please contact me if you need to discuss any of these topics.

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