INNOVATION MANAGEMENT

TURNING ON THE INNOVATION FACTORY

Innovation Management (IM) deals with the means by which organizations stimulate participation in innovation, and thereafter manage the harvesting and use of innovative new ideas (a process that involves the generation, collection, organization, evaluation, selection, and implementation of such ideas).   This creates a "funnel" of fresh new ideas to consider, and ultimately a "pipeline" of real innovation projects to implement.

The aim of Innovation Management is to build a core competency within the business for effectively driving and managing sustained innovation outputs (the "innovation factory").   As such, it is a key component of a broader Corporate Innovation program.   As a management discipline, IM involves certain structures, roles, processes, methods, and usually the use of software enablers — an overall Innovation Management system.   It also involves a selection of venues and events designed to drive engagement in the innovation program.

Increasingly there are a variety of ways in which businesses can institutionalize sustained innovation.   As a result there are a number of ways to structure and run an Innovation Management system.   Every organization will be unique, however, in terms of the structures, roles, processes, methods, and tools that will best serve its needs.   Ultimately, they need the assurance that the choices they make are the ones that will be best for them.

We have extensive experience and expertise in all areas of Innovation Management, allowing us to know how to design IM systems that optimally match businesses' needs.   We work with you to assess your organization's innovation maturity level, and then we design an IM system best suited to that situation and your specific goals.   We also work with you to formulate an appropriate implementation plan and get hands on with the implementation as needed.