Notes

Bernhard Burgener on innovation management's importance
To remain competitive over the long run, companies need to foster creativity through management of innovation.

Bernhard Burgener is a veteran entrepreneur and businessman who believes in innovation as the only way businesses can continue to thrive. To stay relevant in the long-term He believes in ingenuity in management to satisfy market demands.

Look at the following to find out how you can improve your innovation management.

What is the exact meaning of innovation management?
It is a subject of much debate that innovation management is a word. The definitions of innovation themselves suggest that they cannot be managed.

Others, on the contrary, believe strongly in building systems that will generate more creativity. You might not expect it to be this easy.

Let's take a look at what the word "innovation" is. Merriam-Webster defines Innovation as "introducing something new." This is distinct from simply inventing a new product.

"Innovation Management" is the process of coordination for all the tasks necessary to "introduce an innovative product."

As the definition implies, there are various kinds of innovation . This is the main reason for many disagreements in innovation.

The term "generic" is usually used to describe the smallest number of innovations. However, this is strictly from their point of perspective and knowledge.

The four pillars of innovation management that Bernhard Burgener has identified
Bernhard Burgener discovered the simplest method to understand the subject through years of experience. This involves breaking it into smaller parts and examining each part in its own way.

Bernhard Burgener stated that this is the primary pillar you should be focusing on.

Competency
Competency refers a company's ability to invent and manage innovation.

Innovations require the capabilities of teams and individuals, but the competency aspect mostly revolves around individuals. This is primarily about the organization's employees' abilities, insights, know-how and practical capabilities.

For the leader of the company there is a real need for an entrepreneurial leader.

Bernhard Burgener The model also looks at an organization's knowledge, tacit, and financial capital. These could all be required to bring about innovation.

Structure
Structures allow the efficient utilization of capabilities. Likewise, capabilities allow the use of structures. This refers to the structure of an organization and infrastructure, processes, and the structure of the organization.

Structures that are exemplary can be utilized to improve the effectiveness of an organization's operations and to foster innovation.

If communication channels aren't in place and there aren't decisions-making processes, only a little ideas are likely to achieve success. Tools like innovation management software have the potential to make a significant impact.

Culture
The concept of culture is one way for an organization or group to gain the skills related to people, provided that its structure allows it to apply those capabilities effectively.

Bernhard Burgener Companies that are embracing the culture of innovation make it easier to retain and hire the right employees.

A culture that encourages innovation promotes positive behaviors and discourages poor ones. The culture of a company has a direct impact on its ability to innovate. Its consequences can swiftly accumulate. These are the qualities that make up an ingenuous culture.

https://www.mediapart.fr/journal/international/080922/l-oligarque-russe-qui-embarrasse-la-france Bernhard Burgener The importance of continuously improving.
Most valued are speed, knowledge the ability to experiment, speed, and flexibility.
https://www.northdata.de/Burgener,+Bernhard,+Zeiningen/pv8 Accept failure as part of the creative process
Allows for enough freedom and responsibility. Leaders are guided by their vision and culture and not by an approach of chain of command.
Strategy
Simply put the term strategy refers to an organization's strategy to ensure long-term success.

It is essential to realize that strategy involves making thoughtful choices. These decisions need to be made among a variety of options to ensure you have the best chance at "winning." This decision should not stand alone from the process.

Innovation and strategy go hand in hand. In essence innovation is just one method to reach your goals in terms of strategy.

The different types of innovation that need different approaches to management as per Bernhard Burgener.
Open Innovation
It is based in the notion that intelligent and innovative people outside the organization can aid in the achievement of strategic goals. They also have the capability of sharing intellectual property, which is helpful for diverse parties in various ways.

The more information, the better the final decision. The funnel of innovation open on the right permits anyone to take part in the process of developing. A higher number of ideas can also be generated.

Incremental Innovation
Incremental innovation refers only to minor improvements or enhancements to existing products, processes and methods.

Intense innovation is a way of making modifications to existing products that improve the efficiency of development, efficiency or differentiation in the market.

A product's position in the market is often maintained or enhanced through incremental improvements. Bernhard Burgener This is a standard strategy in consumer tech and is a common strategy for companies to enhance personal devices and provide customers more appealing features.

https://www.pilatustoday.ch/schweiz/david-degen-uebernimmt-den-verein-von-bernhard-burgener-141868558 Sustaining Innovation
It happens when a business develops products that are more efficient to sell for higher profits to its top customers. It's usually a method employed by a one that has proven successful using its field to keep innovation going.

Profit is what drives the development of new products. When it is possible to create better products for its best customers, a business is able to increase its profit margins.

Disruptive Innovation
This is innovation that occurs when a company, with limited resources, moves towards the top of the market and challenge the established company. It is possible to divide disruptive innovations into two kinds:

Low-end disruption It's a disruption that occurs in the middle of a market employing a low cost business model.
New market disruption - By catering to an unserved market, a company creates and creates a new segment in the current market.
Both types are disruptive and make incumbents go under rather than fighting the newcomer.

What are the biggest challenges Bernhard Burgener sees for innovation management?
Poor infrastructure
People will not be able to be successful without the right infrastructure, processes, and resources. Google's 20 percent time is fantastic illustration of how to facilitate innovation.

However, it's unlikely your policy could have the same effect if it were used in your workplace. The likelihood is that your employees do not have the same access to Google's tools, infrastructure and raw data as Google employees.

Managers must make sure that employees have the tools and resources they need to succeed.

Culture lacks a growth mindset
It is important to develop an environment that encourages growth in your company. A growth mindset is a belief that you can't alter who you are.

The same is true for organizational culture. Businesses that don't have an environment for growth are not likely to be creative.

Lack of vision or clear focus
Innovation in something that doesn't yet in existence can lead to significant breakthroughs.

People who are passionate about the vision will be more likely to spend their time developing innovative ideas. If you've got a strong idea for your business however, you need to communicate effectively and in a way that is acceptable.

Bernhard Burgener would have it this way Keep the dream alive and keep innovating!
Read More: https://www.handelsblatt.com/unternehmen/management/medien-bernhard-burgener-der-grosse-unbekannte-seite-4/3049334-4.html