Notes

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

Bernhard Burgener is a veteran businessman and entrepreneur who believes innovation is the only way for businesses to thrive. Burgener believes that the only way to stay relevant is to innovate. remain on top of the game over time.

Check out the following information to see how you can enhance your management of innovation.

What is innovation management?
There is a lot of debate on management of innovation. Bernhard Burgener Innovation management is not a process that can be controlled because of its nature.

In contrast, others have a firm belief in creating methods and systems that can lead to more innovation. As you might expect, the reality isn't as simple as it sounds.

Let's look at the word "innovation" and what it entails. Merriam-Webster defines innovation as "introducing something new." Bernhard Burgener It's not the same as simply making something up for example, a product.

"Innovation management" is the term used to describe managing all activities necessary to "introduce something completely new."

There are various types of innovation, as the definition suggests. This is the root of many disagreements regarding innovation.

When referring to a subset of innovation, they usually employ the term "generic. And even then it's strictly from an organizational perspective and experience.

The four pillars that are essential to innovation management, according to Bernhard Burgener
Bernhard Burgener discovered the simplest method to understand the subject through his many years of experience. This is accomplished by breaking down the topic and discussing each aspect of innovation in its own.

Bernhard Burgener emphasized the importance of this pillar.

Competency
Competency is specifically referring to an organization's capability and capacity to innovate.

Innovations require the capabilities of teams and individuals However, the competence aspect is primarily based on individuals. This refers to the capabilities of insight, understanding, and practical skills that employees have.

The person who manages the business has a legitimate need to become an entrepreneur .

The model also incorporates the firm's knowledge and information. https://www.vaterland.li/international/sport/sport/fussball/Weg-frei-fuer-Bernhard-Burgener-beim-FC-Basel;art84,262751,B::pic77,1382254 All of these could be required for generating the idea of innovation.

Structure
Structures enable the effective use of capabilities, whereas capabilities permit the use of structures. The structure of the company is and processes, as well as the infrastructure and the structure of the organization.

Structures that can be exemplified could act as a force multiplier, allowing an organization to be more innovative and perform more effectively.

If communication channels aren't in place and there aren't decision-making processes, few ideas can succeed. Software tools like innovation management software can help.

Culture
Culture is a way for an company or group to acquire the skills related to people, provided that its structure allows it to apply these capabilities effectively.

It is much easier for companies to find and keep the best employees in a workplace which encourages the development of new ideas.

A culture that is pro-innovation and encourages good behavior, and deters those who are not. An organization's culture can significantly impact its innovativeness since its effects quickly accumulate. These are the traits that make up an creative culture.

Accentuates the importance of always improving.
Learning, speed and experimentation are regarded as important.
Bernhard Burgener Accept failure as a necessary part of creative development
Allows employees to have enough autonomy and responsibility. Instead of a chain of command system, it focuses on the vision and culture.
Strategy
Strategy is simply the plan of an organization to achieve long-term success.

It is important to comprehend, however, that strategy ultimately requires making deliberate decisions . These decisions must be in the context of a range of possibilities to increase the chances of "winning". This decision shouldn't be taken apart from the implementation.

Both innovation and strategy are closely connected subjects. However, innovation can only be one way of achieving your strategic objectives.

Bernhard Burgener discusses the various types of innovation which require different management styles
Open Innovation
It is based on the idea that innovative and educated individuals who are not part of the company can aid in the achievement of strategic goals. They also have the ability to share intellectual property which can benefit diverse parties.

The more data you have more information you have, the better your final decision. The process of developing ideas in the open innovation funnel is not only restricted to those in the facilitating company. More ideas are also generated.

Incremental Innovation
Incremental innovation may be described as a series of incremental improvements or improvements to an existing product, service process, method, or product.

Intense innovation is the process of making adjustments to existing products that increase the efficiency of their development, productivity or competitive differentiation.

Incremental innovation often helps to increase or maintain a product's market position. It has become a common method in the field of consumer technology since companies are constantly striving to improve personal devices that have user-friendly features on a regular basis.

Sustaining Innovation
It occurs when a business develops products that are more efficient and then sells them to make more profit. Bernhard Burgener It is usually a strategy company that has been successful in its industry's use to maintain innovation.

https://www.tagesanzeiger.ch/tags/8843/bernhard-burgener Profit is the primary driver behind the development of new products. Businesses can increase their profits by creating better products to meet the needs of their most loyal customers.

Disruptive Innovation
This happens when a company is able to use fewer resources, and then moves upmarket to challenge an established business. It is possible to categorize disruptive innovation into two kinds.

Low-end disruption This is disruptive activity at the bottom of a market that utilizes a low-cost model.
The new market disruption occurs when a business provides services to an underserved section of a market.
Both types of disruptive innovation are not intended to be defeated by the newcomer. They make incumbents retreat from the market.

Bernhard Burgener identifies the key problems in the management of innovation.
Poor infrastructure
Without the infrastructure, resources , and procedures needed to make an impacts, it's difficult for individuals to achieve the same. Bernhard Burgener Google's 20percent Time initiative is an excellent initiative to empower the development of new ideas.

If your business has the same policies, it would probably be less efficient. Your employees likely don't have the infrastructure, tools or raw information that Google employees have.

Managers need to ensure that their employees have the equipment and resources needed to succeed.

Culture lacks a growth mindset
It's essential to have a growth mentality for your company. Growth mindset refers to the idea that you can't change who you are.

It's the same for the organizational culture. Businesses that don't have an environment for growth are not likely to be creative.

There is no vision
Inventing something that doesn't exist is often the cause of important innovations. the same holds true for organizations.

People who are enthusiastic about the vision will be more inclined to spend their time coming up with innovative ideas. Although you might have a compelling vision for your business however, you must convey your vision clearly and gain acceptance.

Bernhard Burgener would advise that you keep your ideas alive and never stop inventing!
Website: https://ch.marketscreener.com/boersen-barone/Bernhard-Burgener-05JNHL-E/biography/