An Innovation Game Plan
There is significant pressure on today’s leaders to innovate; it’s thought to be more critical to expansion than any other method. Unfortunately, pressure to perform can lead to some pretty big mistakes. It increases the chances of ill-researched, irrational, hasty decisions. There are plenty of examples from the music and sports industry of entertainers and athletes who “choked” under the spotlight – missing their opportunity to shine.
The good news for businesses new to or still developing open innovation practices is that you’re not alone. Plenty of pioneers have been refining contemporary innovation strategies and are openly sharing advice gleaned from mistakes and successes – here are a few resources to start.
Ready
Particularly when motivation and excitement are high, a healthy dose of realism can be helpful. Use this list of common issues and potential roadblocks to generate discussion and though about how to plan for these concerns.
Experts warn that open innovation is not a silver bullet. Companies must decide how openness will best integrate into their overall strategy and to develop a strong foundation.
Aim
Creating a solid foundation is critical. Companies must determine how to screen potential partners or otherwise scout for technology as well as how to filter inputs. Checklists and sites such as Innnovationtools.com provide a concise outline of tasks as well as some resources to utilize.
Fire
The team is on board, the plan is on paper, now what? There are plenty of challenges that come with implementation. Current Partnerships need to be nurtured while continuing to develop the network. Then The leadership team also must determine a plan for evaluating the results of their efforts.
Reload
In the innovation process, setbacks are not only inevitable but sometimes necessary. The key is to identify and manage challenges before they run the project off track. Use this guide to help ensure setbacks are learning opportunities rather than disasters.
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