In the last week or so I took a step back to look at the emerging trends around innovation. It certainly seems to have a bright future but its management is growing in complexity. It now needs a deeper understanding than ever. Are we achieving that?
My viewpoint on observing different innovation dilemmas:
- Innovation used to be about product, technology and R&D but it is far more now about value and anything that carries value. It is about creativity and entrepreneurship and it is even more tied to a clear vision today than ever, so it does become a vital part of the culture of the company. Innovation and its potential value generation have certainly broadened out in options and needs even more to be tightly integrated with the strategy- how different types of innovation are aligned is really critical. I think many organizations are failing badly on this alignment recognition.