Very often successful companies point to innovation management as their main success-driving mechanism. They deploy their corporate innovation process to improve every aspect of work and tackle problems. Large Cap businesses like Audi, Microsoft and Panasonic foster creativity across all organisational levels and work collectively to eliminate inefficiencies that hamper their performance.
Although most business leaders agree that creativity is the main currency of success and is an indispensable part of every successful companies strategy, few businesses manage to unleash creative thinking and imagination of their employees. The lack of a consistent corporate innovation process prevents companies from building a culture of innovation.
Here is how following 7 steps enables companies to apply effectively their corporate innovation process and create a culture of innovation.
1. Source desire to improve: when people working for an organisation have a natural instinct to make everything they do better, they are determined to accomplish everything. However, proactive attitude and willingness to innovate are not enough. There needs to be a specific purpose in the form of a common goal, and everyone has to believe completely in this goal.
2. Reward ideas: innovative and creative contributions needs to be rewarded accordingly, boosting employee confidence and team morale.Celebrating creativity goes beyond paying bonuses and other financial incentives. Bright ideas should be rewarded with praise, perks and career opportunities. Environment that appreciates innovation is where it is likely to get established
3. Allow independence: allowing employees to have a degree of autonomy impacts significantly on their creative output. A proven fact is that an employee, who has to get permission from their boss for every detail or decision, lacks decisiveness in their creative approach. Besides, autonomy is also a sign of trust in your people`s capabilities.
4. Allow risky decisions: giving the employees the freedom to take innovative risks without monitoring their actions and judging them all the time. Experimenting with the level of freedom in terms of idea generation creates the ideal environment for making tough decisions and learning from past mistakes.
5. Encourage experimentation: culture of innovation allows numerous attempts and is based on the slogan “practice makes perfect”. If people are afraid to experiment, they will not reach their full creative potential. Fear of failure should be minimised by focusing on the learning that resulted from the failed experiment.
6. Stay hungry and inquisitive: even successful companies with millions of revenue every year constantly search for new products, modifications, market niches, etc. Investing a lot in something new and risky enables constant striving for innovation and success.
7. Breed diversity: creative culture is built by a mixture of different components. Employing people from different backgrounds fuels creative attitude and desire to learn from each other. Since employees are the resource that brings change, diversity enriches the work environment with more perspectives and experiences.
A cultural shift from traditional to an innovative culture is a continuous and sometimes daunting corporate innovation process. Over the last couple of years, more and more companies have adopted Idea Software to help them shape their corporate culture in a new and competitive way. Idea management tools do not create a new culture but facilitate a shift to a new corporate mentality.