MANAGING INNOVATION

Learn to Innovate

Innovation may not be the same as creating something completely new from nothing - but it can appear that way.

Know the process

Develop an insight to take any product or service, develop and then market it in a way that is fresh and has a greater chance of success.,

Lesson Structure

There are 9 lessons in this course:

1. Scope and Nature of Innovation
   • Innovation versus Improvement
   • Why innovate
   • Business innovation
   • Types of Innovation - product, process, service
   • Adoption of Innovations
   • Compatibility
   • Relative advantage
   • Developing innovative products
   • Research and development
   • Models of innovation
   • Basic research
   • Breakthrough innovation
   • Sustaining innovation
   • Disruptive innovation
   • Radical innovation
   • Incremental innovation
2. Creative Thinking
   • Creativity and Innovation
   • What is Creative Thinking - cognitive ability and style, motivation, curiosity
   • What Make Employees Creative
   • Ways to Improve Creativity
   • The 4Cs of creativity model
   • The innovation mindset
   • Creativity enhancing techniques
   • Fluidity and Flexibility training
   • Brainstorming
   • Creativity matrix
   • Creative Thinking VS Critical Thinking
   • Critical thinking and innovation
   • Ways to improve critical thinking
3. Design Thinking
   • Design Thinking and Innovation
   • Design Thinking Process
   • Stages in Design Thinking - empathise, problem definition, ideate, prototype, test
   • Rules of design thinking
   • Association with Innovation
   • Low staff adoption
   • Conventional solutions and unoriginal ideas
   • Focus on incremental innovation only
   • Lack of structure in Solution design
   • Risk management
   • Applications of Design Thinking
4. The Process
   • Innovation Process
   • Phase 0 - Discovery and ideation
   • Phase 1 - scoping
   • Phase 2 - Building a business case and plan
   • Phase 3 - development
   • Phase 4 - testing and validation
   • Phase 5 - product launch
   • Continuing Innovation
   • A/B testing
   • Case Study
5. Managing Risk and Problems
   • Managing Risk
   • Risks Associated with Innovation
   • Financial risks
   • Risks to business structure
   • Failure of innovation risk
   • Future redundancy
   • Inability to implement risk
   • Scaling Innovation
   • Ownership
   • Behaviour
   • Process
   • Enhancing Employee Innovation
   • Predictors of adoption and diffusion
   • Innovative Identification of Risks and Risk Management
6. Types of Innovation
   • Innovation Types - radical, incremental, architectural/sustaining, disruptive
   • Innovation Matrix
   • The Innovation Lifecycle
   • Disruptive innovation and technological change
   • The innovators dilemma
7. Prototyping
   • Why ProtoType?
   • Product Failures
   • Types of Prototyping
   • Basics of prototyping
   • Phase 1 - requirement analysis
   • Phase 2 - quick design and refine
   • Phase 3 - build the prototype
   • Prototyping visual concepts
   • Prototyping to demonstrate a physical product
   • Using a prototype as a marketing tool
   • Prototyping for testing a new hypothesis
   • Tips to get started
8. Journey Mapping
   • How to Write a Journey Map
   • Defining a customer profile
   • Determine motivations and demotivations
   • Plan the buyer journey
   • Revise
9. Implementation
   • Pilot Testing
   • Why you need a pilot
   • Gnatt chart
   • Planning
   • KPIs and Tracking
   • Campaign
   • Product adoption
   • Market impact
   • Feedback
   • Roll Out, Bringing to Market
   • Collaboration
   • Launch team
   • Utilise successes
   • Plan
   • Fill knowledge gaps
   • Pre empt competitors
   • Track progress
   • Benefit Realisation

Creativity and innovation require a particular mindset that nurtures the development and implementation of ideas that bring about enhancements to procedures, products, and processes. Organisations value creativity because it can be a game changer for them. Creativity can drive new ideas and business opportunities, making it crucial to future business success. As technology and industries change, so too must business goals. Creativity and innovation are at the centre of such change. 

DO YOU HAVE INNOVATION POTENTIAL?

Innovation comes easier to some than others. The following factors have been identified as important in a persons ability to be innovative:

1. Cognitive ability
2. Cognitive style
3. Motivation
4. Curiosity

Cognitive ability

Although task-relevant skills are related to high cognitive ability, individuals must also have specific abilities. So, it is not just about being intelligent but also being able to apply specific knowledge to work problems. Although specific knowledge is dependent on a certain level of cognitive ability and may be gained through formal qualifications or training, creative talent can also be nurtured outside of formal education such as through self-education or learning through one-on-one tutoring. Whilst many people can attain task-relevant skills, they do not all produce innovative or creative work.      

Cognitive Style

Cognitive style is a skill used in the creative process which is essential for creativity.  Cognitive style refers to the way individuals think about information, interpret it, and memorise it. Those that can view a problem from different perspectives and think outside the box have a more creative cognitive style.  In the workplace, different people can be seen to have different work styles. Those who are more creative often spend more time on problems giving them greater concentration. They also engage in ‘productive forgetting’ where they put difficult problems to one side and leave unproductive investigations to return to them later. This trial-and-error approach often leads to creative discoveries.    

Motivation

motivation is concerned with the level and type of motivation towards a specific task. Intrinsic motivation is important here. If an individual enjoys the task and sees themselves doing it because they want to do it rather than because they must (i.e., because of extrinsic factors), they have higher intrinsic motivation and are more likely to engage in creative thinking. 

Curiosity

Another key factor driving creativity is curiosity, or the desire to ask why. When employees are empowered to ask why for a given product, service, or process, they are more apt to discover new ways of thinking about a task, which can result in fresh approaches and innovative thinking. Without that empowerment however, this is unlikely to happen, and this typically involves a culture shift which is not going to happen overnight.

WHY SHOULD YOU STUDY INNOVATION?

• Raise your awareness of what innovation involves, it's value and applications
• Recognise your potential to innovate - work on your strengths and weaknesses
• Know the process of innovation so you can develop and apply a more considered plan to innovate
• Improve a business, process, product or service