Planning for Big Innovation Outcomes in 2021

A summary of our recent webinar, Planning for Big Innovation Outcomes in 2021, for those who may have missed it. This webinar was presented by Brian Ruddle, Managing Director of Impact Innovation Group, on 16 December 2020.

Successful innovation systems need to constantly evolve to remain relevant to changing internal and external operating environments. This is the key insight that differentiates successful and unsuccessful innovation.

How effective (and valuable) will your innovation system be by the end of 2021?

Consider:

How aligned to your organisational vision will your innovation system be at the end of 2021?
You need to bring everyone along on the innovation journey with you. The ability to demonstrate alignment with organisational vision and strategy, and the ensuing value creation, will be critical for keeping innovation budgets and realising outcomes.

How valuable will your innovation system be to your organisation by the end of 2021?
There will be many different stakeholders interested in your innovation systems. Understanding the value each stakeholder places on innovation is key to showing the relevant value creation and contribution to stakeholder outcomes.

Will your innovation system be aligned with the recently released innovation standards by the end of 2021?
Alignment with Innovation Standards will demonstrate innovation as a business process, a process which supports business success. The Innovation Standards will also help provide focus for decision making and risk management and help with building your Intellectual Property Assets. For more information on the standards, read this article.

Will you be able to get more from your open innovation and collaboration efforts in 2021?
Open innovation and collaboration can help identify opportunities from across the organisation, help with prioritising projects and help with designing effective validation methods. Collaboration also builds buy in and support through the inclusion of internal and external stakeholders. Transparency in decision making also builds trust and respect for innovation efforts.

Do you have the innovation system tools and methodologies to drive outcomes in 2021?
Doing an audit of your innovation methodologies and tools is a useful task at the beginning of the year. Successful innovation systems utilise methodologies such as Systems Thinking, Effectuation and Multi Criteria Analysis. Utilising innovation and idea management tools like Brightidea and commercialisation decision support tools like Commercialisation Navigator improve not only the number of outcomes you can achieve but also the value of these outcomes.

The ability to address each of these points ensures your innovation efforts are not only valued by your organisation; they become part of your organisational DNA.

If you would like further information about any of the above points feel free to reach out to us at info@impactinnovation.com