While almost every country in the world is grappling with ways to approach business innovation, most are looking at it from the wrong perspective. Instead of the one-off ‘aha’ moment romanticized in literature and cinema, it is actually a series of steps that bring organizations closer to path-breaking innovations. This step-by-step prioritization can best be captured in a canonical lean innovation framework. The first step here is addressing the innovation sourcing. At this stage, brainstorming takes place among group members on problems, ideas and technologies worth giving a try. The next step is Curation, where the entire set up is designed and all internal projects are veered towards this process. Once this list is out, prioritization needs to be done on which ideas will work best or need attention. For this the Three Horizons Models built by management consulting leader McKinsey must be used. Then a Hypothesis needs to be developed around which solutions are to be explored. This is followed by the Incubation stage, where the project takes baby steps towards the target. At the final count, all work thus far needs to be refactored and integrated to align with overall goals. Organization debt needs to be rectified if any.

Source:https://hbr.org/2017/09/what-your-innovation-process-should-look-like?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:27 October 2017