In order to achieve any level of developing business innovations, it is essential to build a prerequisite fitness for the same. The first step to that is simply getting started. At this stage, the needs and imperatives are outlined, the critical path is designed and resources separated. The next stage involves the dynamics which is about a clear focus of the efforts towards the overall corporate strategy. So proper alignment is needed. Then the quantification is done where resources are allocated to various aspects. Constant feedback needs to be taken so that processes may be improvised identifying needs along the way. The system is then designed to veer towards the right direction by framing a strategic architecture. Beyond the tangible aspects of the innovation, process, the softer side need also be explored. This evaluates the intellectual capital and the intangible benefits while balancing differing rivalries. Next up is building a sense of sustainability so that the rivalries can be dimmed and capabilities be built in. At the penultimate stage, the innovations need to be pilot tested. Once the process rolls on, the people behind it must take a step back, but continue observing it for risks and improvisations.


Uploaded Date:27 October 2017

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