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

Bernhard Burgener a successful businessman and entrepreneur believes in the power of innovation to be successful in the business world. He believes that maintaining relevance, over the long run, requires innovative management to keep up with the needs of the market.

Learn more about how to implement an innovation management strategy in your business.

What does innovation management really mean?
It is a subject of debate, and there is a lot of discussion about whether innovation management is a concept. Innovation is described as something that can't be controlled.

Other people, however, are firm believers in the importance of developing processes and systems that allow for more creativity. As you might expect, the reality isn't as simple as that.

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

Innovation management is the process of managing all the activities that are required to "introduce new ideas."

There are many kinds of innovation according to the definition indicates. This is the root cause of numerous disputes relating to innovation.

The term "generic" is usually used to describe the smallest number of innovation. But even then, only from the point-of-view of their business and their knowledge.

The four main pillars of innovation management, according to Bernhard Burgener
Bernhard Burgener discovered the simplest method of understanding the subject through years of experience. This is done by breaking down the topic and discussing each aspect of innovation managing separately.

Bernhard Burgener suggested that you should pay attention to this pillar's main point:

Competency
Competency refers to an organization's capability and ability to innovate.

Bernhard Burgener Innovations are a collaborative effort. However, the competency part is mostly about people. This refers to the capabilities, insight, and actual skills that employees possess.

Managers require an entrepreneurial approach to leadership.

The model also incorporates the firm's information and knowledge acquired through tacit. All of these might be necessary to invent new ideas.

Structure
While capabilities can be utilized to build structures, structures allow them to make efficient use of their capabilities. https://timebusinessnews.com/bernhard-burgener-on-negotiating-without-power-struggles/ This is the case with the organisation's organizational structure and processes.

These models can assist organizations to be more efficient and creative by serving as a force multiplier.

Without the proper communications channels, decision-making procedures, and the infrastructure for implementing the ideas, they are not likely to get off the ground. Software for managing innovation is an excellent tool to help you get the job accomplished.

Culture
If structures are able to effectively leverage capabilities, then they can assist an organization to acquire the capabilities that people need.

Businesses that embrace innovations culture make it easier to retain and recruit the right people.

A culture that encourages innovation promotes positive behavior and discourages bad ones. Due to its rapid growth an organization's culture may greatly impact its ability to innovate. These are the indicators of an creative culture.

It is important to constantly improve.
Speed, learning and experimentation are highly valued.
Bernhard Burgener Accepts failure as part of creativity development.
It allows for sufficient freedom and accountability. Leaders are guided by culture and vision rather than the chain of command method.
Strategy
Strategy is the basic plan of an organization in order to attain long-term success.

It is important to realize that strategy involves making decisions between a variety of possibilities to increase your chances of success. This decision shouldn't be taken as a separate thing from execution.

Innovation and strategy are both closely connected subjects. In essence innovation is just one method to reach your goals in terms of strategy.

Bernhard Burgener discusses the many types of innovation, which require different managerial styles.
Open Innovation
It is based on the conviction that there are intelligent, creative individuals who are able to contribute to the organization's strategic goals. They can also be a part of sharing intellectual properties, which is helpful for various parties in different ways.

The more information gained, the more educated the decision is. In the open innovation funnel on the right, the development process isn't limited to specific people within the facilitating organization. Furthermore, the variety of ideas is also higher.

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

Intense innovation is focused on making existing products more efficient and productive. They also make them more distinctive.

Incremental innovation is often able to improve or maintain a product's market share. https://www.swissfilms.ch/fr/person/bernhard-burgener/480882158A0B45E8A032C9614568E5FF It's now a common strategy in consumer technology as companies strive to improve personal devices with users-friendly features often.

Sustaining Innovation
This happens when a firm produces better-performing products that can be sold at higher prices to their most valuable customers. It is usually a strategy company that has been successful using its field to maintain innovation.

Profit is the primary driver that drives innovation. Businesses can improve their profits by creating better products for their best customers.

Disruptive Innovation
This happens when a company has fewer resources and moves into the market to take on an established company. Bernhard Burgener It's possible for disruptive innovation to be classified into two kinds.

Bernhard Burgener Low disruption – It is disruptive in the low-end market employing a low business model.
Market disruption A business can develop or establish a new segment by providing services to an untapped market.
Both types are disruptive and force incumbents downmarket, rather than fighting the newcomer.

What are the main challenges Bernhard Burgener sees when it is to managing innovation?
Poor infrastructure
Without the right infrastructure, processes, and resources, it's going to be difficult for anyone to be successful. Google's initiative to make 20% time is an example of a great initiative to encourage the development of new ideas.

However, it's unlikely that your company will follow the same rules. Your employees may not have access to the tools or infrastructure, know-how, or the raw data that employees at Google do.

The manager must give their team the tools and resources they need to be successful.

Culture lacks a growth mindset
It's essential to maintain a mindset of growth for your business. Growth mindset refers to the belief that you can't change who you are.

This is especially true of the organizational culture. A culture that promotes growth is a key ingredient for innovation in an organization.

There's no vision or clear focus
Innovating with something that isn't already exists is often a source of crucial breakthroughs.

A clear vision will attract passionate people who will put in the extra effort to create new ideas. Although you might have an appealing idea for your company but you must communicate your vision clearly and gain acceptance.

Bernhard Burgener would have it in this manner Keep the dream alive and keep innovating!
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