Innovation might be an open process, but it is, indeed, governed by specific rules. The first one is the exertion of strong leadership on portfolio and innovation strategies. This one ensures that ideas flow in a clear manner from upper management to entry-level personnel, ensuring everyone grasps the objectives of a company. The second one is the integration of innovation into a company’s business mentality. It ensures that company employees apprehend the innovative mission of the firm to prepare everyone for change and avoid confusion.
In the third place, there is the alignment of the amount and nature of innovation to a company’s business. It ensures complete understanding of the goals of the company’s innovation. The fourth rule demands the management of the natural tension existing between value capture and the creativity itself. It ensures that the creative innovation gets exploited optimally to drive review while lessening the organization’s burden.
Then, the fifth rule calls for the neutralization of organizational antibodies. Here, the organization would ensure that all employees and members of the organization are prepared for the change. They should be informed of the components of the change including the ‘who,’ ‘where,’ ‘what,’ ‘when,’ and ‘why.’In the sixth position, the company should recognize the basic unit of innovation as a network that engulfs knowledge and parties within and out of the organization. The firm management should also ensure that all resources get exhausted before seeking help from outside parties.
Lastly, the right rewards and metrics for the innovation should be set. Employees should be kept engaged and eager in innovation by use of the reward system.
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