Get the Innovation Engine Going

The Harvard Business Review has an interesting take on developing an innovation engine for your organisation to churn out innovation.

Practically every company innovates. But few do so in an orderly, reliable way. In far too many organizations, the big breakthroughs happen despite the company. Successful innovations typically follow invisible development paths and require acts of individual heroism or a heavy dose of serendipity. Successive efforts to jump-start innovation through, say, hack-a-thons, cash prizes for inventive concepts, and on-again, off-again task forces frequently prove fruitless. Great ideas remain captive in the heads of employees, innovation initiatives take way too long, and the ideas that are developed are not necessarily the best efforts or the best fit with strategic priorities.

What it will require is senior management attention—most critically from some member of the top leadership team. That might be the chief executive officer or a chief innovation officer, but it doesn’t have to be. If you’re responsible for innovation in your company at the highest level, we’re talking to you. With a little help from other executives and innovation practitioners, you can set up an MVIS by completing four basic steps in no more than 90 days, with limited investment and without hiring anyone extra. And as early success builds confidence in your innovation capabilities, it will set the stage for further progress.

Of course, this engine needs to be powered by people. And where there is people, there must be culture – a culture of innovation. Its good to think about how you will inculcate a culture of innovation in your organisation.

Read the full article here

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