Innovation has become a catchphrase that is so worn-out and at the same time so misunderstood. The first dare in any organization looking to set up innovation is to elucidate what innovation is, and what it implies for the organization in the provision of taking action. There are many definitions of Innovation in the text but not many are effective and concise. Many define Innovation as individuals implementing new thoughts that create value. The highlight of this characterization is in four areas:
- Value creation
- New ideas
To succeed in innovation, organizations require people to be energetic, inspired and motivated to develop, think up, and execute new ideas. Learning and collaboration are indispensable. The challenge is distinctive because it necessitates getting people to want to get involved and collaborate and not only because they have to. Inspiration and energy are elementary catalysts and without them, the process will fade away quickly. Establish idea sharing systems and platforms that allow employees at all levels of an organization to put in ideas and share them with the opposite parties. Most crowd sourced platforms do an exceptional job signifying their end product and what their consumers have to say about it. Nevertheless, very few crowdsource platform show you the step-by-step process and precisely who is working on it.
Truly unique ideas are not that common and organizations looking for them would benefit greatly by providing employees with training in creative thinking and problem-solving. Training in thinking and problem-solving tools, helps employees work better and more effectively at Innovation challenges. Visible headship that supports the drive for innovation is a clear-cut must and will adjoin much more weight to the long-term success of innovation inventiveness.
It is usually easier to implement an innovation structure in small and medium businesses if they have the craving for it. Nevertheless, larger organizations, which have settings, spread across numerous regions face a tougher challenge. Spreading the word of innovation requires the support and establishment of champions at supportive communications department as well as at a local level. Relating the organization’s HR and Learning units is highly suitable. The characteristic saying goes “if you can’t measure it, you can’t manage it,” this holds factual for innovation as well. In illumination of this, it is significant to hold Business Units and Innovation Champions playing a role in innovation responsible in terms of performance strategy and contracts respectively. Allowing for testing and Prototyping and new ideas and concepts in safe environments are necessary for successful innovation. It is not only functional but in some cases a must, to stay ahead of inclination and future predictions in the market and large-scale environments.
Innovation is undoubtedly a challenging initiative but the successes and rewards that can be attained far outnumber the costs. Entrepreneurship and innovation are the driving forces of a productive and successful economy. Thus, crowdsource platform is used for information management tribulations where an organization mobilizes a crowd to find and accumulate information. It is ultimate for creating combined and collective resources.