Corporate Innovation has moved from a simple Suggestion Box to an Idea Box. To scale up, organizations initially invested in Idea Management Systems. This evolved over a period of time and features like rating and ranking, collaboration, customized workflows, rewards, and recognitions were added.
Some organizations, on the other hand, adopted Open Innovation Platforms where they posted challenges and invited the crowd to solve their problems. Around this time, some of the Idea Management Software vendors started expanding their canvas and rolled out upgraded ‘Innovation Management Software’ systems with additional features.
But, would this truly enable Innovation? The short answer is No.
Well, if not, what needs to be done?
Corporates have come to understand that Innovation is no more an option. They’re investing their resources in creating unfair competitive advantages to their businesses by:
- Creating Chief Innovation Office.
- Investing in Transformation Projects
- Initiating Strategic Game-changer Projects
Most of these initiatives are tied to the organization’s strategy. They have the freehand to dip into their existing pool of ideas inside the organization, or to work with external consulting firms and generate new organic ideas, and to figure out what works. Some projects have worked, but many others may not see the light of day.
So, the challenge for organizations would be:
- To make the process of Innovation Success repeatable.
- To ensure predictability for the return on their Innovation Investments.
This calls for a change in the way ‘Innovation’ has been practiced.
Innovation is the new horizontal which will have an impact all across an organization. This is a business process in itself. Organizations have to set KRA’s/KPI’s and systematically measure the outcome. The only challenge in this business process, unlike the others, is that it calls for balancing creative freedom and execution discipline.
Thus, organizations need:
- A structured approach to ensure predictability.
- A true Innovation Enabler that elevates the level of thinking systematically, and in a structured approach.
- Holistic help in charting their next growth curve for business.
Suffice it so say, a mere Innovation Management Software cannot do the magic. There needs to be a true Innovation Enabler that can bring in predictability in Innovation Investment which in turn could repeat the Innovation’s success.
iEnabler is the champion of this new wave of innovation.
An expert who reviewed iEnabler had this to say:
“There was no single platform that empowered individuals, managers and leadership with tools and techniques to take ideas forward all the way to monetization in a structured approach. iEnabler has the potential to address that critical gap.”
Curious to know more about Predictable Innovation to Repeat Success ?
Check out iEnabler – Enterprise Innovation Management Platform