Notes

Bernhard Burgener talks about the importance and benefits of innovation management
Companies today must encourage innovations through innovation management in order to stay relevant for the long haul.

Bernhard Burgener (a veteran businessman) believes that innovation is essential to winning in business. To stay competitive in the long term, innovation is key in keeping up with market demand.

Look at the following to discover ways you can enhance your management of innovation.

What is the exact meaning of innovation management?
Bernhard Burgener Bernhard Burgener There is a lot of debate surrounding the term "innovation management. Innovation is defined as something that cannot be managed.

Some, however are firmly in the belief of building structures that can generate more innovation. Like you would expect, the reality isn't quite as straightforward as that.

Let's take a step back and think about what "innovation" means. Merriam-Webster defines innovation as "introducing something new." It's not the same as inventing something new for example, a product.

"Innovation management" is the term used to describe all the activities needed to "introduce something new." The procedure involves coming up with ideas, prioritizing them, and then implementing them, e.g. through the launch of the product or creating new processes within the company.

Bernhard Burgener There are many kinds of innovation according to the definition suggests. This is the root cause of many disputes about innovation.

It is typical to refer to the term "genuine" when referring only to a particular type of innovation. However, this is strictly from their point of perspective and knowledge.

https://www.highlight-communications.ch/Bernhard-Burgener.htm Bernhard Burgener's four key pillars of innovation management
Bernhard Burgener discovered the simplest way of understanding the topic through years of experience. It's through taking it apart and discussing every aspect of innovation management individually.

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

Competency
Competency is the ability of an organization to in generating and managing innovative concepts.

Innovations are a team effort. Bernhard Burgener However, the competency part is mostly about individuals. This is primarily about the capabilities of employees in the company knowledge, insight and the practical abilities.

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

The model incorporates the firm's information and tacit knowledge. All of these could be required to bring about innovation.

Structure
Structures are able to maximize the use of capabilities. Capabilities allow the use structures. This refers to the organization's organizational structure and the processes it follows.

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

Few ideas will succeed without the appropriate communication channels, decision-making processes, and appropriate implementation infrastructure. Innovative management software can be a major help.

Culture
The culture of an organization can help it to gain the abilities associated with people if it has the right structures in place to achieve this.

A culture that is open to innovation makes it much easier for the organization to recruit and keep the best employees.

An ideal pro-innovation culture encourages correct behavior and discourages those who are not. Because of its fast-growing accumulation the company's culture could significantly affect its capacity to be innovative. These are the hallmarks of an ingenuous culture.

This highlights the need to always strive to improve.
Most valued are speed, knowledge the ability to experiment, speed, and flexibility.
Acceptance of failure as a part creativity
It allows employees to have enough autonomy and responsibility, and is guided by the vision and culture instead of a chain-based approach.
Strategy
The strategy is the blueprint of an organization in order to attain long-term success.

But, it is crucial to understand that strategy ultimately involves taking deliberate choices. Those decisions are between several feasible options to be sure of "winning," This choice should not be viewed as a separate thing from execution.

Innovation and strategy are closely related issues. But, innovation is just one method to achieve your strategic goals.

Bernhard Burgener explores the various types of innovation, all of which require different approaches to management.
Bernhard Burgener Open Innovation
It is based on the notion that intelligent and creative people from outside the company can also aid in the achievement of the company's strategic goals. They also have the capability of sharing intellectual property, which helps various parties in different ways.

The more information, the better the final decision. https://www.worldboxingnews.net/2022/02/10/new-man-takes-helm-ahead-new-world-boxing-super-series-season/ The open innovation funnel on the right indicates that development is not limited to only employees of the organization that facilitates it. There are many more ideas.

Incremental Innovation
Incremental innovation is described as a set of small improvements or upgrades to an existing product, service process, method, or product.

Incremental innovation can improve the development efficiency and productivity of products already in production, as well as their competitive differentiation.

Bernhard Burgener Incremental innovation is often used to maintain or improve the market position of a product. This is a common practice in the world of consumer technology. Companies strive to make their devices more user-friendly.

Sustaining Innovation
It is the time when a business produces better-performing products that can be sold at higher prices to their most valuable customers. Most often, it is the strategy of companies that have been successful in their field who employ sustainable innovation.

Profit is the primary driver to invent. A business can achieve ever-higher profits by developing more efficient products for its most loyal customers.

Disruptive Innovation
This is innovation that occurs when a company, with less resources, move upwards and confronts an established business. It's possible to categorize disruptive innovation into 2 types.

Low-End Disruption- This disruption can occur in a market that has low-cost business plans.
The new market disruption is when a company provides services to an underserved section of a market.
Both are disruptive and force incumbents downmarket, rather than battling the new competitor.

What are the issues Bernhard Burgener sees in innovation management?
Poor infrastructure
Success isn't possible without infrastructure, resources or processes. For example, it's easy to talk about Google's 20 percent time as an outstanding initiative to encourage the development of new ideas.

However, it's unlikely your policy would be as effective if it were implemented in your company. Your employees likely don't have access to the same tools or infrastructure, know-how, or the raw data that employees at Google do.

The manager should provide their team with the resources and capabilities that they need in order to achieve success.

Culture lacks a growth mindset
It's important to follow the steps to develop an optimistic mindset for your business. Growth mindsets are founded on the idea that your persona isn't fixed or can be changed.

The same applies to the culture of an organization. A culture that promotes growth is a key ingredient for innovation in an company.

There is no crystal clear view.
It is common to create something that does not exist in the present, and this is often the basis for big innovations.

A vision that is inspiring is more likely than not to attract people who are willing to invest the effort to develop innovative technologies. If you have an excellent vision for your company, you still need to communicate effectively and in a way that is acceptable.

Bernhard Burgener would advise that you keep your ideas alive and never stop inventing!
Website: https://www.transfermarkt.de/bernhard-burgener/profil/trainer/53291