In today's business environment, companies, organizations, and government agencies are increasingly realizing that innovation is essential not simply to their success but to their very survival. Innovation is not simply a buzz word, an abstract concept, or an intangible idea; it is at the core of every aspect of business.
Whether incremental innovation or transformative innovation is desired, all innovation processes are cycles of study, experimentation, and implementation. While sound innovation processes encourage creativity and are predicated on the notion that a system open to trial and error must be prepared to expect error, the innovation process itself must be well thought through to avoid certain failure. Put another way, innovation in business does not thrive on pure chaos, but rather on organized chaos, thus an entity's innovation process must be holistically designed.
A bountiful flow of creative ideas is worthless without business processes to assess and implement them. Leadership competencies for creating a culture of innovation focus more on how to instill those "cultural" values rather than on traditional management skills.
This section has been written by Adam Billing of Bridge Collaboration who is an internationally recognised expert in this field and he sets out some of the components of successful innovation and shows the benefits which can be gained by any organisation which can improve levels of innovation.
If you would like to know more about Adam and the work Bridge Collaboration does with large a number of global clients, click on the left hand column link to see full details.