Notes

Bernhard Burgener on the importance of Innovation management
To remain relevant in the long run to be relevant, businesses must encourage the development of innovation through innovation governance.

Bernhard Burgener a successful entrepreneur and businessman believes in the power of innovation to be successful in the world of business. To stay relevant in the long-term Burgener believes in the need for innovative management to meet market needs.

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

What exactly is innovation management?
Much debate surrounds the term "innovation management. The very definition of innovation implies that it cannot be managed.

Contrary to that, some are staunch believers in the creation of systems and processes to create more innovation. As you might imagine, it's not as easy.

Let's look at what innovation is. Merriam-Webster defines innovation as "introducing something new." This is not the same as simply creating something new like a new product.

"Innovation management" refers to the management of the entire process required to "introduce something new."

There are many kinds of innovation, as the definition indicates. This is what causes many disputes about innovation.

In referring to a specific part of innovation, they usually refer to it as a generic term. Bernhard Burgener Even then, it's only from an organizational perspective and their experience.

These are the four core four pillars Bernhard Burgener considers essential for innovation management.
Bernhard Burgener gained his knowledge by observing. This is accomplished by breaking the subject down and discussing each aspect of innovation in its own.

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

Competency
Competency refers to an organization's capability to manage and create innovation.

Innovations are dependent on the skills of both individuals and groups however, the aspect of competence revolves primarily around the people. This refers mainly the ability to know, the knowledge and the practical skills of employees.

The manager of the company has a valid need to become an an entrepreneur .

The model also considers the organization's information capital, tacit knowledge, and other financial capital as well as other resources. Each of these may be necessary to invent new ideas.

Structure
Structures can maximize the use of capabilities. Bernhard Burgener The capabilities allow for the use of structures. The structure of the company is and infrastructure, processes, and the structure of the organization.

The exemplary structures can work as a force multiplier allowing the organization to operate and innovate more efficiently.

Without the right communications channels, decision-making process, and infrastructure for implementation, few ideas will be successful. Software tools like innovation management software could be helpful.

Culture
It is the process that allows an organisation or group to develop the skills related to people, if its structure allows it to apply those capabilities effectively.

It is much easier for companies to retain and attract the best people when they have a culture which encourages the development of new ideas.

A positive, innovative culture promotes good behavior and discourages those who are not. Because of its rapid accumulation the company's culture could significantly affect its capacity to invent. https://maison-monde.com/vision-bernhard-burgener-leadership-entrepreneurial/ These are the hallmarks of an ingenuous culture.

It is essential to continuously improve.
Speed, learning and experimentation are regarded as important.
The ability to accept failure is an integral an important aspect of growth in creativity.
Allows for enough autonomy and accountability and is led primarily with vision and culture instead of the chain-of command approach.
Strategy
Simply put, strategy is the strategy of an organization to achieve long-term success.

It is essential to understand that strategy ultimately requires making deliberate decisions . These choices must be in the context of a range of possibilities to increase your chances of "winning". Bernhard Burgener This choice shouldn't be taken apart from the execution.

Innovation and strategy are closely related topics. But in essence innovation is just the best way to accomplish your strategic goals.

Bernhard Burgener discusses the many kinds of innovation that require different approaches to management.
Open Innovation
It is based on the idea that innovative and skilled individuals from outside the organization can also contribute to the achievement of strategic goals. They can also be a part of sharing intellectual properties, which can benefit diverse parties in various ways.

The more details you have is available, the better the final decision. In the open innovation funnel to the right, the development process isn't restricted to the individuals within the facilitating company. https://www.transfermarkt.us/bernhard-burgener/profil/trainer/53291 There are many more ideas.

Incremental Innovation
Incremental innovation is described as a set of incremental improvements or improvements to the existing product, service or process.

Innovation that is incremental tends to boost the effectiveness and efficiency of development of existing products as well as their competitive differentiation.

Incremental innovation is often able to enhance or even maintain the market share of a device. This is a standard approach in technology for consumers in the process of helping companies improve their personal devices and to offer more customer-friendly features.

Sustaining Innovation
It is when a company develops higher-performing products in order to make more profit for its most valuable customers. Typically, sustaining innovation is strategy companies already successful within their respective industries employ.

Profit is the motivating factor for innovation. A company can make ever greater earnings by offering better products for the most loyal customers.

Disruptive Innovation
This innovation is when a company that has limited resources competes with an incumbent firm and moves towards the upper end of the market. There are two types of disruptive innovation:

Low end disruption It's a disruption that happens in the lowest point of a market employing a low cost business model.
New market disruption A business which caters to an underserved segment of the market could establish and claim a new market.
Both types of disruptive innovations force incumbents to retreat from the market, rather than combat the new competitor.

Bernhard Burgener identifies the key issues in managing innovation.
Poor infrastructure
People can't achieve success without infrastructure, resources and processes. Google's 20percent Time initiative is an excellent initiative to empower innovation.

However, it's unlikely your policy would have the same effect if implemented in your company. Bernhard Burgener Your employees likely don't have the resources, infrastructure, or raw data that Google employees do.

The manager should ensure that the team has all they need.

Culture lacks a growth mindset
It's crucial to be a positive and growing mindset for your business. Growth mindset refers to the idea that you cannot change who you are.

It's the same with organizational culture. A company that isn't focused on growth will not be able to be innovative.

There isn't a clear picture.
The process of inventing something that already exists can lead to important inventions.

A compelling vision is more likely to attract passionate people who will put in the extra effort to develop innovations. While you may have a clear vision for your business communicating it clearly and acceptingly is essential.

Bernhard Burgener would advise that you keep your ideas alive and keep inventing!
Website: https://www.transfermarkt.us/bernhard-burgener/profil/trainer/53291