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simon.derry@innovation-leaders.co.uk


WHAT IS INNOVATION MANAGEMENT?

Innovation Management is about the commercial exploitation of ideas and insights. The most effective organisations create an innovation culture to get to that end point. We believe that an innovation culture is made up of 6 distinct elements – what we call the 6 Ps of Integrated Innovation.

The Commercial Exploitation of Ideas
 

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.

Innovation Leaders are an international professional services company focused upon providing complete solutions to clients in the area of idea, insight and innovation management.

WHO WE WORK WITH

INFINEUM – WORLD CLASS CHEMICAL SPECIALISTS

We are a Specialty Chemicals Company with powerful research and development capabilities providing innovative solutions that solve the complex challenges faced by our customers today..

Learn more here…

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BIOECONOMY CORPORATION MALAYSIA

22-26 April in Kuala Lumpur we delivered an Accelerator Programme designed to help SMEs in the bio-economy sector create a strategy for their business and use technology to accelerate their growth

Learn more here…

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What does Innovation Management really mean?

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 more creative you are the faster 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.

Why Innovate?

Gone are the days when a business could ‘muddle through’ and provide an average service or product. The internet has provided customers and suppliers with increased visibility of your business and the sector you work in. You have to decide whether you are going to be part of the change or be led by it. Innovation management means:

  • Enhanced competitiveness through fresh solutions keeping you ahead of the competition
  • New revenue streams as you develop new products and services and identify new revenue streams
  • Improved efficiency through optimisation and continuous improvement
  • Better morale through a workforce and culture infused with a creative mindset

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.

Who takes charge of Innovation?

Since it encompasses the creation of an innovation strategy, managing the innovation process and creating a practical solution to all those ideas and insights generated within and outside the organisation there needs to be Innovation Champions at all levels. A Chief Innovation Officer might oversee the who Innovation Framework but in a really innovative company there is a realisation that innovation is everybody’s responsibility. There is more to innovation than just being creative and coming up with a new idea!

Where does innovation flourish?

We believe that anyone can be innovative given the right encouragement and business culture. The 6Ps of Integrated Innovation Management are about creating the right culture where innovation will flourish. Some of the key elements are:

  • Empowerment – giving your employees the autonomy and resources to put forward and develop their ideas
  • Communication – letting people know how their suggestions are being used and improving cross functional communication
  • Reward and Recognition – rewarding ideas doesn’t have to be expensive but needs to motivate individuals and teams
  • Development – being involved in innovation in a business should be seen as a promotion and people should be given the opportunity to develop themselves accordingly
  • Fun – coming up with new ideas and trying different things should be fun. That will inspire people to do more

Who are we and how can we help?

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.

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