Innovation

Innovation is about human creativity, organized and applied across the organization.

In today's dynamic and turbulent world, organizations face a stark challenge--change or perish. Unless they keep renewing their products and services, and update the ways they create and deliver them, they risk being overtaken by competitors. Innovation--the process of change--is critical to the success of all organizations, large or small, in both the private and public sectors.

Most managers understand the importance of the topic. But making it happen requires a systematic hands-on approach. We have to learn to manage innovation, and Innovation provides a framework for doing this. Key elements in successful leadership of innovation include developing a clear strategic vision and communicating it, searching for innovation triggers, choosing a balanced portfolio of projects and delivering these projects on time and within budget.

Innovation is about human creativity, organized and applied across the organization. As a manager, you need to understand how the innovation process works and how you can mobilize this creativity.

ACTION POINT: Understand how the innovation process works.