When we talk about innovation, we think about improving and creating new things. But how do we do this within an organization? Here is a step-by-step guide.
- Internal evaluation
Let’s start by looking inside the organization. We collect data, talk to employees, review processes and analyze past initiatives. This gives us a clear picture of what we have and how we use it. - External evaluation
Then, we observe the environment. We analyze market trends, identify competitors and see new technologies. This helps us understand external opportunities and threats. - Create a vision
With all the information, we define a clear and inspiring vision for innovation. It must be aligned with the values of the organization and aspire to a better future. - Define objectives
We set specific, measurable, achievable, relevant and time-bound (SMART) goals. For example, we might consider launching three new products in one year. - Generate and select ideas
We brainstorm ideas and select the most promising ones. The ideas must be viable, have market potential and be aligned with the objectives. - The innovation map
We develop a detailed plan that includes the goals, prioritized ideas and how we will measure success with KPI’s. This plan must be flexible to adapt to changes and allow for continuous improvement.
With these steps, an organization can build a strong innovation strategy, ready to face the challenges of the future and take advantage of opportunities to grow and differentiate.