WHAT IS INNOVATION MANAGEMENT?
What does Innovation Management really mean? For us, Innovation Management is about the commercial exploitation of ideas and insights. It is so much more than just being creative and new product development. The most effective organisations create an innovation culture as the central part of Innovation Management. We believe that an innovation culture is made up of 6 distinct elements – what we call the 6 Ps of Integrated Innovation. Any strategic approach to innovation should take these elements into account. Innovation Leaders are experts in the area of Innovation Management and have plenty of examples to show how and an Innovation Culture can be both created and destroyed!
Innovation in business is not the same as merely being creative. Innovation and entrepreneurship go hand in hand but there is often a confusion as to what constitutes innovation as opposed to creativity. The analogy we at Innovation Leaders use is that Creativity is getting the wheels of a car to go round and the ore creative you are the father the wheels go round. However Innovation in business is about making the car go forward in the direction you want. If the wheels are spinning faster and faster then the car isn’t necessarily going any quicker and maybe not in the right direction. There are creative agencies whose job it is is to come up with lots of ideas, however business innovation is about deciding which of those ideas to implement and to apply them in such a way as to meet your desired strategy.
Our Integrated Innovation Framework is a proven approach to managing ideas from concept to completion, from idea to implementation, through a combination of best practice tools and techniques in innovation management, training and consulting combined with our AI-enabled InnovX™ suite of applications. The importance of innovation management cannot be understated in a business world where everyone is constantly looking for the ‘next big thing’ and where technology can change a marketplace overnight – providing both opportunities and threats to your business.
Innovation Leaders are an international professional services company focused upon providing complete best practice solutions to clients in the area of idea, insight and innovation management. With Innovation Leaders you will find practical examples and results rather than just theory. We have years of experience of working with all types of innovation management, in many cultures and countries in many sectors and businesses. Whether you wish to investigate innovation training workshops, a consulting led approach to installing an effective innovation management solution, innovation coaching – or to investigate the latest in web-enabled AI platforms Contact us to discuss how we can help.
Innovation won’t happen by chance – like anything worthwhile it has to be worked at. Let us show you how.
