Managing Innovation
On the Fast Company list of the world’s 50 most innovative companies of 2011, Apple ranks number 1. Then comes Twitter and Facebook, followed by Nissan, Groupon and Google. In that order. No surprises. They have all enabled an ecosystem of creativity that have redefined communication, transportation and retail. How? What is the secret?
How can entrepreneurs make it happen? More important: How can companies swim in uncertain waters of innovation and grow? Enric Bayó, from ACC1Ó, gave some hints about it in his presentation at BIZBarcelona. He underlined five key concepts: commited and strong leadership, balanced innovation model, identification of opportunities, risk and Open Innovation. He also distinguished investigation from innovation. “Ideas do not have any value until they turn into a reality”. There is a summary of his talk in L’Anella.
To go a little bit further on, above strategic clarity to create these new opportunities and avoid mediocrity and commoditization, entrepreneurs need patience. Creativity is a fickle thing an having an “innovation mindset” that enters every aspect of the business is not achieved with shortcuts. Managers need to constantly look at their part of the business and ask themselves “what are the barriers to being innovative and creative?”
Some questions might help: Is anybody asked about their ideas? Do staff know about the need for ideas and innovation? Are people rewarded for their ideas and contributions? Experienced innovators say that “organisations that truly invest in their people and understand the value of their ideas ensure that facilities, equipment, time and resources are organised to help foster ideas and innovations”.
