Notes

Bernhard Burgener discusses the importance of Innovation Management
To be relevant long-term to be relevant, businesses must encourage innovation through innovation governance.

Bernhard Burgener a successful businessman and entrepreneur believes that innovation is the only way to succeed in the business world. He believes that innovation is the only way to remain on top of the game over time.

Take a look at the following suggestions to discover ways you can enhance your innovation management.

What does innovation management actually really mean?
It is a subject of debate and debate as innovation management is a term. The very concept of innovation implies that it cannot be managed.

Others, on the contrary side, are in favor of using systems and processes for more creativity. As you might expect, the reality isn't quite as straightforward as this.

First, let's take a moment to comprehend what it means to be innovative. Merriam-Webster defines Innovation as "introducing something completely new." This is distinct from simply inventing a product.

"Innovation management" means managing all of the tasks required to "introduce something completely new." The procedure involves coming up with concepts, prioritizing them, and then implementing them, e.g. through the launch of a product or introducing new internal processes.

There are many kinds of innovation according to the definition suggests. This is the reason for many disagreements regarding innovation.

People often use the generic word when they are referring to a specific portion of the field of innovation. And even then it's strictly from their organizational point-of view and their experience.

Bernhard Burgener They are the four core four pillars Bernhard Burgener considers essential for innovation management
Bernhard Burgener discovered the simplest method to understand the subject through his many years of experience. It involves breaking it down into smaller pieces and examining each part each one by itself.

Here is the primary pillar Bernhard Burgener said you should focus on:

Competency
Competency refers to the organization's ability to create and manage innovation.

Innovations require the capabilities of teams and individuals, but the competency aspect is primarily based on the people. This is primarily the capability to know, the knowledge and the practical skills of employees.

The manager of an company is entitled to a requirement to be a leader who is entrepreneurial.

The model also considers organizational information capital and tacit know-how. These are all necessary to bring about innovations.

Structure
Structures are able to maximize the use of capabilities. Capabilities permit the use of structures. The structure of the company is and infrastructure, processes, and organizational structure.

The structures in the examples can function as a force multiplier that allows the company to function and innovate more efficiently.

Without the right communications channels, decision-making procedure, and infrastructure to allow for the implementation of ideas, only a few can be made to work. Tools like innovation management software can be of help.

Culture
A company's culture can aid in gaining the capabilities of its employees if its structures permit it to use these capabilities effectively.

Companies that are embracing innovations culture make it easier to retain and attract the best people.

An ideal pro-innovation culture encourages the right behavior and deters those who do not. A company's culture can dramatically affect its ability to innovate because its impacts can quickly build up. Bernhard Burgener These are the qualities that comprise an innovative culture.

This emphasizes the importance to constantly improve.
Bernhard Burgener You are highly valued for your speed, your learning and experimentation.
Accepts failure as a necessary part of creative development.
It provides employees with enough freedom and accountability and is guided by vision and culture rather than a chain method.
Strategy
In simple terms, strategy, is an organization's plan to achieve long-term growth.

It is important to recognize that strategy is the process of making conscious choices. These decisions should be taken between many possible options to ensure you have the greatest chance of "winning." This choice must not be taken as an independent decision from the process.

Bernhard Burgener Innovation and strategy are closely related issues. But, innovation is only able to be one of the ways to achieve your strategic objectives.

Bernhard Burgener describes the different kinds of innovation that require different styles of management
Open Innovation
It is based on the conviction of creative, knowledgeable people who can contribute to the company's goals. https://www.transfermarkt.ch/bernhard-burgener/profil/trainer/53291 Bernhard Burgener They also have the ability to share intellectual properties that can be beneficial to various parties in different ways.

The more information gained the more informed the final decision. The open innovation funnel on the right shows that the process of development is not restricted to employees of the organization that facilitates it. The number of ideas is even greater.

Incremental Innovation
Incremental Innovation refers to a series of major or minor enhancements to processes or products that are already in use.

Intense innovation focuses on making existing products more efficient, productive, and differentiateable.

A product's position in the market is usually maintained or improved through incremental improvements. It has become a common tactic in consumer technology, since companies are constantly striving to improve personal devices with customer-friendly features on a regular basis.

Sustaining Innovation
It occurs when a business creates products that perform better and then sells them to make more profits. Companies who are successful in their respective industries use continuous technological innovation.

Bernhard Burgener Profit is the driving factor behind the process of innovation. By creating more efficient products for its most valuable customers, a business can increase profit margins by a significant amount.

Disruptive Innovation
It is the case when a business with fewer resources challenges an incumbent firm and moves to the top of the market. It is possible to categorize disruptive innovation into two types:

Low disruption – It is disruptive in the low-end market with a low-risk business model.
New market disruption A business who caters to an unserved market segment can establish and claim a new market.
Instead of fighting the new entrants, both types disruptive innovation force incumbents upmarket to go down.

What are the most pressing issues Bernhard Burgener sees when it is to managing innovation?
Poor infrastructure
Without the infrastructure, processes and resources, it'll be difficult for anyone to have an impact. Google's initiative to invest 20% in innovation is easy to talk about.

However If you were to implement the same policies in your organization, it would likely be much less effective. Your employees may not have access to the exact tools, infrastructure and knowledge as Google employees do.

Managers must ensure that their employees have access to the tools and resources they need to succeed.

Culture lacks a growth mindset
It is essential to build an outlook of change to your business. The growth mindset is based on the belief that your personality isn't permanent or cannot be altered.

The same is true for organizational culture. A culture that fosters the growth of an organization is essential for innovation in an company.

There's no clear vision or goal
Creating something that doesn't yet exist is often the cause of important innovations. the same is true for organizations.

If you've got a compelling vision, it's more likely that employees will be motivated to work harder to create new ideas. You can have a brilliant vision but you must present your vision clearly and in a manner that will be understood by the company.

Bernhard Burgener would have it as follows Keep the dream alive and keep creating!
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