Most company leaders place high importance on innovation. However, selecting the strategy that will produce the best ROI can be complicated. Innovation must be replicable, inexpensive, and solve a specific need. Innovative ideas often produce efficiency, resulting in a profound impact on society. Many approaches to success fail when complexity and uncertainty are higher. Using technology to innovate continuously and disrupt themselves reduces businesses’ vulnerability to external disruption. This article at InformationWeek by John Edwards elaborates on the importance of fostering a creative culture to increase innovation.
Top Voices on Increasing Innovation
Ola Chowning, a partner at the international technology research and consultancy firm ISG, notes that technology and its influence on business capacities are constantly changing. Increase innovation to beat stagnation. A failure to respond to disruption can have an adverse effect on any business. Chowning says, “Lacking that ability places the business at high risk of being disrupted and/or unable to respond to external disruption.”
According to Jaynene Hapanowicz, CTO of Dell Digital at Dell Technologies, businesses that want to succeed in the modern economy must constantly innovate. She states, “Leaders who can embrace that ready-for-anything mentality are the ones that will drive impact.” She opines it is crucial to allow teams the freedom to try new things.
Christine Livingston, managing director of Protiviti, advises, “Be willing to try ideas and approaches that may not work.”
How Other Companies Are Amplifying Innovation
Livingston recommends creating a small, tightly focused prototyping team to enable the business to swiftly test concepts and technologies. He suggests using a repeatable methodology and producing a prototype that can be scaled upon or abandoned based on results.
An enterprise-wide innovation lab can be particularly effective when combined with specific incentives for idea development since it promotes unconventional thinking in a focused and secure setting.
Chowning argues that limiting innovation to operations teams reduces resources and the capacity to spread beyond the beginning area.
According to Hapanowicz, Dell Digital has adopted a comprehensive strategy to encourage developer creativity. Currently, developers spend between 72% to 75% of their time producing functional code and applying their creativity and skills to develop novel solutions that benefit Dell and its clients.
The author also shares expert views on funding for innovation.
To read the original article, click on https://www.informationweek.com/strategic-cio/how-to-optimize-your-organization-for-innovation
The post Increase Innovation to Foster a Sustainable Culture appeared first on AITS CAI’s Accelerating IT Success.