What is innovation?
Innovation shouldn't be something that is done for its own sake, done properly it includes:
- New ways of doing something – but on its own this isn't enough,
- Innovation also means Ideas applied successfully, and
- Positive change leading to increased value
Genuine innovation results in lasting improvements.
Achieving innovation is actually a process, starting with:
- Business leaders understanding what is possible,
- Leading to a menu of potential changes which are then costed
- Against which the business benefits of each change can be assessed
- Saying how achievement of benefits will be measured
- Ending with a prioritised list of changes with the cost, benefit and measurement understood by all
- Then whenever plans are altered the cost/ benefit and measurement assumptions are re-examined.
It usually helps if someone external helps you through the process, which is what I do.