Treating innovation as part of business strategy means embracing it as a mechanism capable of creating value for the company. This requires managers to be able to identify opportunities and change the way the organization works so that it is capable of achieving increasingly better results.
To support this practice, one of the pillars of innovation management is the use of a digital solution to process and implement the ideas developed, whether by collecting data from the management system (ERP) or CRM, or by other means. It is worth noting that some significant changes must occur in the internal dynamics of the company, starting with the mentality of employees.
Putting a disruptive idea into practice is one thing. Systematizing thailand whatsapp data innovation as a tool for generating value is another, and this requires an innovative culture. In general terms, professionals must understand the objectives to be achieved and the means to do so. To understand the details of this new dynamic, see below some of the practices adopted by innovation management in full swing:
mapping opportunities and threats;
reformulation and review of processes aimed at reducing rework or optimizing activity;
foster creativity;
constant training;
coordination and control of activities;
analysis and optimization of the use of resources (human and technological);
building and strengthening relationships (internal and external to the company);
identification and development of talent.
These are just some examples of ways of working that depend on efficient management of available resources and the promotion of an innovative culture. Practices can go further, depending on the requirements and characteristics of each company.
It is worth mentioning, however, that it is essential to have a tool, such as a good ERP, to manage these activities in order to keep them aligned with business objectives.
Innovation drives development
Innovation management lays the foundation for development subject to strategic control. This means promoting the creation and use of new products and services without giving up planning and predictability of results. After all, innovation requires investment. Investment, in turn, requires that objectives be analyzed in terms of the probability of bringing good results.
This new way of working allows companies to approach other actors (suppliers, customers, strategic partners, etc.) to align their objectives and work cooperatively. Open innovation is a good example of this: through innovation management, more and more companies attract customers and suppliers to participate in the development of ideas and products.
As a result, the company becomes more flexible, agile and able to create based on market demands and opportunities.
But, ultimately, how can I bring this concept to life in my company?
Innovation management in practice: promoting competitive advantages
The first step is to promote a management strategy that includes mapping opportunities and risks in each activity. This should be done both in the business strategy (i.e. in the sector in which the company operates) and in the company's departments. In the first case, the objective is to collect data to generate insights on possible new products and services. In the second, the scope is the working method, which must be continuously improved.
It is also essential not to give up predictability. Every time an opportunity is identified, the idea conceived must be subject to a profitability analysis. After all, subjecting innovation to a management process is precisely to avoid uncertain investments, or shots in the dark. Good ideas without strong returns are problematic, as they can put the company at financial risk; however, no idea should be discarded.
Added to this is the management of creative teams. The heart of disruptive action lies in the innovative culture of an organization. In this sense, knowing how to intelligently use available resources does not simply involve reviewing software and other tools: it is necessary to know the professionals, involve them in strategic discussions and put them in activities in which they can have a higher performance.
It is important to highlight the importance of leaders capable of motivating teams. After all, no matter how aware employees are of the company's objectives, it is essential that they participate in activities, which begins with valuing individual and collective work, for example.
These are significant and challenging changes, but organizations that believe in the creativity and potential of their teams can easily navigate them.