We are doing Innovation Management thereby our Focus lies in Innovation Strategy, Innovation Methods, Innovation Culture and optimize the Innovation Process. Change Management.
Hidden Power Question the Status Quo
Innovation Race has developed an Z-approach to build an repeatable process
to find new avenues for innovation and Growth worldwide.
We try to solve following questions:
- Which Innovation Strategy should be used to enhance your Organisation?
- How to make innovation repeatable through an process in an organisation?
- How to capture the ideas in the process and build an innovation play-book?
- How to use the methods effectivley to create innovation?
- How to create an innovation culture?
Our Fieldwork has shown that their are lot of factors which influences the innovation performance
but we will have an look to the key Factors
Turnover 100%
- Strategy Innovation 10%
- Process Innovation 30%
- Product Innovation 60%
We can see that companies have their most focus on Product & Process Innovation but lack in Strategy Innovation. But the majority of these are focusing expanding on new markets with excisting activies rather on diversification or radical change which would have an higher impact also on the Business model Innovation.
Methods 100%
- Use the methods strategyly 10%
- Right timing in the process 25%
- After instinct 65%
The methods used by companies to innovate are mostley used after instinct rather strategical.
Process 100%
- Open Process 10 %
- Understand of Process 45%
- Administration expense 45 %
Process in the majority of companies is well understood but mostly fail because of administration. Furthermore only the outperformer have shown an open process in their organisation, which is seen on the outcome.
In addition lots of companies have to work on their culture in their organization, so question is the innovation culture lived vs. commanded from above. Furthmore it is also relevant to see how the company corporate with external partners which is also not done effectivley. It all soundsdifficult but sometimes the solution is in front of our eyes.
We have found out that the most companies lack is in this area as mentioned above and the innovation excellence is not done effectively. Only the Outperformer has this "Hidden Power" and are the main player in their market.
The question is now what should companies do? Simple should strive for Innovation Excellence so called Z-Approach which will boost them to the next level.
Hidden Power
- Define a clear Innovation Strategy
- Open up the Innovation Process and make it independent
- Use the Innovationmethods strategcially in the Innovation process
- Build an Innovation DNA which should become a part of the culture
Advantages
- Increase Innovation Power
- Differentiation to the Competitors
- Higher awareness
- Increase turnover
- Time to market and reduce costs
