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04 March 2016

5 Essential Keys to incorporating the Innovation Model in the Company (I)

This post is also available in: Spanish

At present, companies last up to 18 years, and the prediction for 2016 is around 15 years. The eruption of new and innovative technologies seems to accelerate these changes, shortening the times used in companies and their useful-life expectancies, so…

What can we do?

This is the question on the lips of the majority of organizations and their experts have been asking this for years… What to do and how to do it… and as always, there are many different answers, but many agree with the following:

“Innovating by using new management models, to incorporate new control tools and above all; to adopt the revolutionary formats which are becoming part of our business practices thanks to the Internet. All this, whilst thinking of how to innovate our products and services, and how innovation permeates all areas of our organization to become our most essential tool to guarantee the future of all companies, regardless of their size.”

The key could be within our reach; for companies to create the “mix” which brings together: Management, Technology and Methodology, i.e. innovation is the model to use as added value and a differentiator. However, whilst the concepts of Management and Technology have become more accessible to our organizational culture, when we talk of assuming an innovation model, despite many people thinking it’s easy, it is not often the case.

Portrait of successful business executive using laptop with colleagues in the back

In reality, not many executives and experts “have a very clear vision of where to begin, and what innovation model to use, and above all, how and how much effort they will have to make or what resources are needed, for it to be profitable and productive for business.

What is becoming clear to an increasing number of professionals, is the pressing need to introduce innovation into the organizations. Thinking about working for the immediate future, looking for new management models, new products and services whilst continuing with daily operations.

This is essential for any type of business that wants to survive and be sustainable; incorporating an innovation model can guarantee permanence and what’s more, understanding the positive impact on company results, which can be measured by the level of competition achieved, or the greater ability to better adapt to market fluctuations and changes, and also for allowing it to grow faster and with more guarantees of success.

Introducing the necessary culture of innovation in the company, is a challenge of great value, in addition to involving the entire management team, it must have tools that facilitate change and transition globally.

Innovation-Blog3

The challenge of thinking up an innovation model has different keys that we can turn to… concise recommendations that will inspire this thought process.

To begin:

1.- Innovate for difficulties

Innovation represents adapting to any given situation. Problems and difficult situations should provide the biggest incentive to boost our idea generation.

2.- Don’t think of one solution, think of many

There is never a single project, sole problem, or unique situation to solve, therefore it’s wise to have a wide spectrum of ideas for each situation. Expanding the capacity for innovation is fundamental.

3.- Innovation is Universal

Innovation is not only unique to creative people, but also applies to those managers who think that being good at something is not enough and strive to do things better and different from the rest.

4.- Love your ideas: Share, Collaborate and Communicate

The company’s global public is indeed the best and most gifted field of experimentation, to find out how your ideas can work: Employees, Consultants, Customers and Suppliers can all form a great source of opinion regarding appropriate profiles, innovations, new products and services.

The Social technology that your action space has on Internet, in addition to being our best form of communication, becomes the best model for collaboration and participation with our entire public. Business communication and innovation are two important assets.

5.- Think of technology as your closest ally

It is an inevitable reality – ICT is an inherent part of the corporate personality and should influence all areas, so that the technological tool naturally involves the entire creative process throughout the innovation cycle: from the initial idea, Democratization and Planning to project Development.

The importance of joining the ICT competition is such that, in the second part of this article: Technology in the Company Innovation Model, we will consider the which tools and innovation models to use.