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Innovation Execution
Authors
Gary Zimmerman – CMO, Principal Consulting Analyst
Abstract
The pandemic has clearly been a forcing function for change, and enterprises have responded with innovation across the entire value chain. But this event is not the end of change, it’s an acceleration of the trends towards an adaptive enterprise that were already present in the market. To survive, enterprises need to innovate and the ability to effectively manage the innovation system is a key factor in success.
This is the third of our series of reports covering enterprise innovation. We initially described applying start-up principles to enterprise innovation, then provided an approach to applying a comprehensive reference architecture model to innovation program and we now will focus on execution. This report lays out the generally available tools and techniques to execute on your innovation programs as a holistic system in support of your business and innovation strategy.
Innovating is the act of transforming creative ideas into recognized value. Creating is thinking of something new. Innovating is implementing something new. Both are focused on the end goal of creating recognized value.
The way to think about moving an idea to realized value is to think about the idea as a product from the very beginning. Whether the idea is internal workflow change, exposing a new API, a product for the market, a business process improvement, etc., each follows a similar pattern as it moves along its journey to value. Depending on where the product is in its journey helps determine what tools and techniques are best to make progress.
We describe several well-known innovation methods and tools in this report, but there are many toolkits and innovation processes that will support your goals. The key is finding the toolset that works for your organization and evolve it as your needs change. We also define a series steps to take to make your selected toolkit fit within the context of your organizational culture.
