Innovation is really about three things: (1) building the right environment to spawn innovation; (2) identifying the most likely innovation that will succeed; and (3) knowing when to throw in the towel on an idea that didn’t work out. Because let’s be honest, time and money are way too valuable in an austere environment.
So how do you ensure really good ideas are getting the proper attention when it comes to resources? If you feel your best method of recouping any investment in innovative ideas is “hope,” then maybe you need a more deliberate, structured approach.
A pretty safe approach to innovation would be a structured approach that takes ideas through a deliberate process. The process should identify the most likely innovations that will succeed; and in turn, give you an accurate indication of when an idea should probably be jettisoned to the “good-idea fairy” for stewardship.
That structured approach or “innovation protocol” should involve:
- Your Mission, Vision, Values
- How you obtain Voice of the Customer information
- Strategic Planning Process
- Business Review Process
- Organizational Performance Measurement Process
- Your Knowledge Management Processes
- Your approach to Process Design and Improvement
- Your approach to Budgeting
- Your approach to developing Action Plans
- And, a robust Change Management Process
For-Profit organizations must keep all this in mind while not sacrificing organizational agility; not-for-profit or Education institutions must be conscious of not allowing competitors to surpass you while you’re fettered in the decisions associated with implementing your innovative idea. However, Innovation should be considered a business imperative first and foremost, and not something to do only if left-over resources become available.
Below is what might be considered an overly complicated process map regarding a protocol for innovation management; but, closer examination would reveal an integrated business approach to ensuring the most likely to survive innovation is given the appropriate amount of attention to ensure you’re successful taming the innovation management monster.
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