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Innovation management

Transforming ideas to innovation

Innovation management is the answer…

Often, for a business to gain a competitive edge it must bring something new to the market. Many new inventions have the potential to change the market’s landscape, but it takes more than that for a business to exploit this potential. Not only has it to be based on new fresh ideas but it has to figure out how to generate value from them. In other words, invention has to become innovation.

However, innovation involves more than just novel products, technologies and services. An innovative management philosophy consists of adopting new strategies, developing your business with flexibility in a constantly fluid environment, always improving how market value is created. Being able to anticipate how a change in the current approach can benefit the output of a business and taking action towards it is key for the success of an organization. In other words, management innovation is to improve the way your business works, grows and adapts to an ever-changing environment.

We implement innovation management taking into consideration three core elements:

Innovation Strategy

Since ideas in companies are most often generated by people working at their day to day jobs we are proposing a strategy where innovation in embedded and allows top management to sponsor new ideas and encourages the capturing of ideas when they arise. Ensuring that innovation is driven and sponsored from the top-down allows ideas that might otherwise be drowned in the daily tasks to be drawn out and given space to flourish.

Innovation Organization

The generation and capturing of ideas requires processes to facilitate their maturation and to turn them into viable projects just like any other business process. In implementing an innovation management approach, companies need have a defined process in place that will allow ideas to be generated and captured, to be prioritized and subsequently matured on a consistent basis.

Innovation Culture

Finally, besides the innovation strategy and organization, it is crucial that a company will develop an innovation culture that will sustain and continuously improve the innovation process transforming it to a way of life and operation for the company and employees. 

How we perceive management innovation in Exelisis...

management innovation in Exelisis revolves around certain key points in which it can be easily summarized: strategy, organization and culture.

Everyday, smart people can have new smart ideas about how to bring more value to your business. It is then up to the company’s management to support those new ideas, encourage their employees to talk about them and bring them forward. This is a matter of innovation strategy adopted in business. But innovation should not end there. Every time such novel ideas arise, it is crucial that there is a way for them to be improved, evaluated, developed and implemented in order to finally add value to the business. Establishing a pipeline of processes that start by capturing new ideas, continue by developing, optimizing, refining them and end up implementing them is what we perceive as innovation organization. Finally, combining strategy and organization into innovation culture means constantly adapting those pipelines, supporting the creation of new ideas and creating a framework that keeps updating and improving the entire process of innovation in a business.

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