Table of contents
|What is innovation?|
|Types of innovation|
|Benefits of innovation|
|Measuring innovation performance|
What is innovation?
“The actions required to create new ideas, processes or products which when implemented lead to positive effective change.”
– Marc Chason, Motorola LabsThis simple definition of innovation captures very well the key attributes of it
- execution turns ideas and inventions to innovations
- results in positive change and value
Here is how Marc Chason continues to explore the topic:
“While invention requires the creation of new ideas, processes or products, innovation moves one step further and requires implementation of the inventive act. Innovation also implies a value system which seeks to derive a positive outcome from the inventive act. For example, actions which lead to a negative performance metric would not be considered innovative, even if they met the requirements of novelty and enabling actions.”
Engaging your staff to improve the operations is one of today's hot trends and one way to do it by suggestion box. It is a method widely used in both public sector and companies. Painfully often the activity which was launched years ago has been let to fade. In situations like these the relaunch of suggestion box to staff is needed.
Good planning is the cornerstone of kicking off any activity. Successful kick-off and the benefits of active participation are secured by following these tips. These tips are based on a research conducted by Lappeenranta University of Technology and the best practices of Orchidea Innovations.
Topics: suggestion box
You want to reinvent the world, but you do not know where to start? No worries, leading consulting companies spend big bucks to find out the silver bullets for you. Here is the 11 innovation best practice list which is based on the latest research from Boston Consulting Group, strategy& and PwC.
1. Capture Customer Insights Directly from the Customers
According to strategy& strong focus on capturing customer insights directly from customers had strong impact on financial results. Companies which capture insights directly from customers had three times the growth in operating income and twice the return on assets of industry peers that captured customer insights indirectly, as well as 65 percent higher total shareholder returns (strategy&, 2014).
Many of the clients I meet are struggling to collect enough ideas in the fuzzy front end of their innovation process. At the same time in many organization the only way to submit an idea to the organization is by submitting invention disclosure report. This is very counterproductive from the point of view of innovation.
Do you want to know why?
1) The Bar is Raised Unnecessarily
It is widely accepted truth that in innovation quantity leads to quality. If the only way for the employees to submit their ideas is inventions, the organization is messaging that they are only looking for something unique or novel. This is again leads to smaller ideas not being submitted which affects idea quantity.