Notes

Bernhard Burgener talks about the importance and benefits of innovation management
To remain relevant, companies today must foster innovation through innovation leadership

Bernhard Burgener (a veteran businessman) believes that ingenuity is crucial to winning in business. To stay relevant for the long run He believes in ingenuity in management to meet market needs.

Find out more about how you can implement innovation management in your company.

What does innovation management really mean?
There is a lot of debate surrounding innovation management as a term. The nature of the definitions of innovation suggests that they cannot be controlled.

Many are committed to creating systems and processes to increase innovation. It's not as easy as you think. it's not as easy.

Let's examine the definition of innovation. Merriam-Webster defines Innovation as "introducing something novel." It's different than simply inventing a product.

"Innovation management" is the term used to describe managing every aspect necessary to "introduce something different."

Bernhard Burgener There are different types of innovation, as the definition suggests. This is the root cause of many disagreements related to innovation.

A majority of people use the term "generic" to describe a subset innovation. Even then, it is only in terms of their business and their experience.

The four pillars that Bernhard Burgener has identified as the most important of innovation management
Through experience, Bernhard Burgener has found the most straightforward way to comprehend the topic. It is done by taking it apart and discussing each aspect of managing innovation in isolation.

Here's the main principal pillar Bernhard Burgener said you should be focusing on:

Competency
Competency is the ability of an organization to control and create innovation.

Innovations are the result of a collective effort. But, the competence part is mostly about people. This is mostly about the skills, knowledge and abilities of employees.

For the leader of the company, there is a valid requirement for the leadership of an entrepreneur.

The model considers the company's information and tacit knowledge. Each of these could be necessary to invent new ideas.

Structure
Structures facilitate the effective use of capabilities while capabilities enable the use of structures. In practical terms, this refers to the organizational structure of an organization as well as processes and infrastructure.

These structures are exemplary and can help companies to become more efficient and creative by serving as a force multiplier.

In the absence of proper communication channels and decision-making processes, only a few ideas will be successful. Software like innovation management software could help make a huge difference.

Culture
If organizations are able to effectively leverage capabilities, then the culture of an organization can assist it to develop the capabilities that employees require.

A business with an open-minded culture will be able to attract and retain the most talented individuals much more easily.

A culture that is pro-innovation and encourages good behavior, and deters the wrong kind. A company's culture can dramatically affect its ability to innovate since its effects quickly accumulate. In general they are the traits of an innovative culture:

This emphasizes the importance to always improve.
The most valued aspects are speed, learning, experimentation, and flexibility.
Acceptance of failure is a necessary part of creativity
It provides employees with enough freedom and accountability and is guided by the vision and culture rather than a chain approach.
https://www.swissfilms.ch/de/person/bernhard-burgener/480882158A0B45E8A032C9614568E5FF Strategy
Strategy can be defined as the organization's long-term plan for successful outcomes.

It is important to comprehend that strategy ultimately requires making deliberate decisions . These decisions should be in the context of a range of possibilities to increase the chances of "winning". This choice should not be separated from the implementation.

Strategy and innovation are closely connected subjects. In the end innovation is only one of the ways to meet your strategic goals.

Bernhard Burgener discusses the various types of innovation which require different management styles
Open Innovation
It is based on the conviction of intelligent, talented individuals who are able to contribute to the company's goals. They also have the capacity to share intellectual property, which can benefit different parties.

The more data gathered the more informed the decision is. The open design funnel that runs to the right indicates that development is not restricted to employees within the facilitating organization. In addition, there are other ideas.

Incremental Innovation
Incremental innovation refers to a series of minor upgrades or enhancements to a company's existing products or services, processes or methods.

Intense innovation is a method of making changes to existing products to improve the efficiency of their development, productivity or differentiation in the market.

A product's position in the market is often maintained or enhanced through incremental innovation. This is a common practice in the world of consumer technology. Businesses strive to make their products more user-friendly.

Sustaining Innovation
It's when a business develops better products to make more profit for its top customers. The majority of the time, it's the strategy of companies that have been success in their respective fields that employ sustainable innovation.

Profit is the primary driver for the process of innovation. Profit margins can be improved by offering better products to customers.

Disruptive Innovation
The innovation happens when a business with less resources is able to move upmarket and challenge an incumbent company. It is possible to classify disruptive innovation into two kinds:

Low-end disruption - It is an opportunity to disrupt the lower end of an existing market using a low-cost business model.
New market disruption A company could cater to an underserved niche in a particular market and thus create a new market.
Both kinds of disruptive innovations make incumbents retreat from the market, rather than take on the newcomer.

Bernhard Burgener Bernhard Burgener What are the biggest challenges Bernhard Burgener sees when it is to managing innovation?
Poor infrastructure
It is impossible for people to make a difference without the proper processes, resources and infrastructure. https://www.local.ch/fr/d/fiesch/3984/trekking/burgener-bernhard-qny6RkHbcBXxilu7GdeKGw For example, it's easy to talk about Google's 20 percent timer as a great initiative to foster the development of new ideas.

However, even in the event that the policy was implemented at your workplace, it would be less efficient. Employees won't have access to the expertise and infrastructure or the raw data that Google employees have access to.

Managers need to provide the appropriate resources and capabilities for their teams in order to ensure that they succeed.

Culture lacks a growth mindset
It is crucial to create a mindset of growth to help your business grow. A growth mindset is based on the belief that you are neither fixed and you can't change yourself.

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

There is no vision
Innovating from something that's not yet out there can lead to important innovations. This is especially the case for businesses.

A clear vision will attract passionate people who will make the effort to create new ideas. Even if you have a compelling vision for your company but you must communicate the vision clearly and get acceptance.

Also, as Bernhard Burgener would say, keep the vision alive and start innovating!
Here's my website: https://www.hlee.ch/de/Bernhard-Burgener.htm