Editor's Note: Take a look at our featured best practice, Design Thinking (225-slide PowerPoint presentation). [NOTE: Our Design Thinking presentation has been trusted by an array of prestigious organizations, including industry leaders such as Apple, MIT, NASA, Ford, Boeing, Fujitsu, Syngenta, Palo Alto Networks, and Mercer, to name just a few.]
Design Thinking is a process for creative problem solving. [read more]
Also, if you are interested in becoming an expert on Innovation Management, take a look at Flevy's Innovation Management Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
* * * *
When new technologies and competitors disrupt markets, numerous existing organizations struggle to remain competitive. Situations like these encourage some organizations to partner with others.
Fruitful partnerships comprise of having the appropriate people, processes, and organizational backing. This calls for an Integrative approach to Managing Innovation.
Various aspects of the Innovation process have to be integrated through a cohesive Innovation Management Strategy that gels well with the individual strategies of these aspects.
Integrative Innovation Management focuses on 4 key areas to effectively manage Innovation at an organization. They are:
- Integration of Directions of Impact
- Integration of Stakeholders
- Integration of Capabilities
- Integration of People
Integrative Innovation Framework aims to deliver a platform that aids in addressing the holistic character of Innovation.
With interrelations growing more and more, caution is required against overlooking the greater picture or giving excess importance to specific features.
Let us delve into some details of the areas identified.
Directions of Impact
It is imperative in successful Innovation Management to keep a balance between various objectives, strategies, and approaches. Innovation Management necessitates an equilibrium between various strategies, objectives, and approaches—which are frequently in contrast to each other.
These contrasting extremes, even though fundamentally dissimilar, are equally essential.
Integration of People
Contingent on the Direction of Impact, having the appropriate combination of people with the right skills and mindsets, is integral for Innovation. An assortment of perspectives and ideas is advantageous for exploring fresh prospects that have a possibility of radically transforming the present circumstances and current Business Models.
Integration of Stakeholders
More and more businesses are discovering that tackling Innovation alone is an increasingly impossible task. Situations like this stimulate some organizations to partner, network, or collaborate in communities and/or with customers even. Such setups tend to be open arrangements. Specifically, systemic problems—e.g., energy, healthcare, mobility—hinge on effective collaboration between matching stakeholders.
Integration of Capabilities
Capabilities have to cross functional boundaries in order to create Integrative functional capabilities that make the Innovation effort thrive.
Interested in learning more about Integrative Innovation Management? You can download an editable PowerPoint presentation on Integrative Innovation Management here on the Flevy documents marketplace.
Do You Find Value in This Framework?
You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.
For even more best practices available on Flevy, have a look at our top 100 lists:
30-slide PowerPoint presentation
Innovative business models can reshape industries and drive tremendous growth. However, many organization find business model innovation difficult. The framework outlined in this presentation is based on the HBR article "Reinventing Your Business Model," authored by Clayton Christensen, Mark
[read more]
Want to Achieve Excellence in Innovation Management?
Gain the knowledge and develop the expertise to become an expert in Innovation Management. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.
To be competitive and sustain growth, we need to constantly develop new products, services, processes, technologies, and business models. In other words, we need to constantly innovate.
Ironically, the more we grow, the harder it becomes to innovate. Large organizations tend to be far better executors than they are innovators. To effectively manage the Innovation process, we need to master both the art and science of Innovation. Only then can we leverage Innovation as a Competitive Advantage, instead of viewing Innovation as a potential disruptive threat.
Learn about our Innovation Management Best Practice Frameworks here.
Readers of This Article Are Interested in These Resources
20-slide PowerPoint presentation
This toolkit contains a series of templates that are designed to capture the key elements of a innovative idea.
It is intended to a be a live document that is updated as you go through the discovery journey from idea to a revenue generating concept.
Each framework has key concepts that need
[read more]
32-slide PowerPoint presentation
Complex and competitive organizations across industries such as engineering, manufacturing, and product development face significant challenges in solving problems effectively and fostering innovation. Traditional problem-solving methods often fall short in addressing the multifaceted nature of
[read more]
33-slide PowerPoint presentation
Partnerships among companies and universities are important drivers of the Innovation economy. Fruitful partnering with universities comprises of having the appropriate people, processes, and organizational backing to guarantee success and to detect and manage sources of conflict.
This
[read more]
24-slide PowerPoint presentation
Throughout the last century, captains of industry learnt to master the process of production to such extent that it now no longer functions as a significant competitive advantage. The new challenge is to master the process of Innovation. This includes harnessing change and creating new competitive
[read more]