Notes

Bernhard Burgener on the importance of innovation management
Today, businesses must promote innovation via innovation management to be relevant over the long term.

Bernhard Burgener is a veteran entrepreneur and businessman who believes in innovation as the only way for businesses to succeed. To be competitive in the long term Innovation is the key to keeping up with the demands of the market.

Continue reading to discover how you can improve the management of innovation within your organization.

What does innovation management actually mean?
Innovation management, as a concept, is a source of much debate. Innovation is defined as something that cannot be managed.

Others, on the contrary hand, believe in the use of processes and systems to bring about more creativity. Bernhard Burgener You can imagine that the reality isn't as simple.

So, let's take a step back and consider what the term means. Merriam-Webster defines "innovation" as "introducing something completely different." It's not the same thing as creating new products.

"Innovation management" means managing all activities that are necessary to "introduce something new."

As the definition implies, there are various kinds of innovation . This is the root cause for many disagreements in innovation.

In referring to a specific particular subset of innovation, many employ the term "generic. But even then, only from the viewpoint of their company or personal experiences.

The four main pillars in innovation management, according to Bernhard Burgener
Bernhard Burgener discovered the simplest method of understanding the subject through his many years of experience. It's by taking it apart and discussing every aspect of innovation management separately.

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

Competency
Competency is the capacity of an organisation to manage and invent.

Innovations need both individual and team ability and the component of competence focuses on individuals. This is primarily about the abilities, knowledge and abilities of employees in the company.

The company's manager is legally entitled to be an entrepreneur .

The model also includes tacit capital, information capital and financial capital. All of these resources may be needed to create new ideas.

Structure
While capabilities can be used to construct structures, they also help them make the best use of their abilities. This refers to the structure of an organization and processes, as well as the infrastructure and organizational structure.

Exemplary structures can serve as an increaser of force and enable the organization to function and develop better.

If there aren't the appropriate communications channels, decision-making procedures, and the infrastructure for implementing the ideas, they are not likely to be successful. Tools like innovation management software can be of help.

Culture
It is the process that allows an organization or group to gain the abilities related to people, if its structures permit it to utilize these capabilities effectively.

An organization with a pro-innovation philosophy will be able to attract and retain the most talented individuals much more easily.

An ideal pro-innovation culture encourages the right behavior and deters people who aren't. The company's culture directly affects its ability to innovate. Its consequences can swiftly build up. These are the hallmarks of an creative culture.

It is important to constantly enhance.
Valued are speed, learning and experimentation, as well as flexibility.
Accepts failure as a part of creative development.
It allows employees to have enough autonomy and accountability and is guided by the vision and culture rather than a chain approach.
Strategy
Simply put, strategy is the organization's plan for achieving long-term success.

It is important to recognize that strategy involves making thoughtful choices. These decisions need to be made between many possible possibilities to give you the best chance at "winning." Bernhard Burgener The decision should not stand alone from the implementation.

Strategy and innovation are closely linked topics. In essence, however, innovation is just one of the ways to meet your strategic goals.

Bernhard Burgener claims that there are many kinds and designs of innovation.
Open Innovation
It is based on the conviction of intelligent, talented people who can contribute to the goals of the organization's strategic plan. They can also share intellectual property which can benefit different parties.

The more data gathered, the more educated the decision is. The open innovation funnel (right) allows for the creation of innovative ideas by any member of the organization. The amount of ideas are significantly higher.

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

The incremental process of innovation focuses on improving the efficiency of the product, productivity, and differentiation.

Innovations that are incremental can usually increase or sustain the market share of a product. This is a common practice in the field of consumer technology. Companies are constantly striving to make their devices more user-friendly.

Sustaining Innovation
It happens when a firm develops products that are more efficient to sell with greater profits to its top customers. Continuous innovation is a strategy that companies that are profitable in their field employ.

Profit is the primary driver for innovation. Businesses can earn ever-growing profits by creating superior products for its most loyal customers.

Disruptive Innovation
This happens when a company has less resources and is forced to move upwards to compete with an established company. It's possible to separate disruptive innovation into 2 types.

Low disruption It's disruption in the lower end of the market employing a low business model.
The latest disruption to the market occurs when a business serves an underserved segment of a market.
Instead of fighting newcomers, both kinds of disruptive innovation forces incumbents to retreat.

What are the biggest challenges Bernhard Burgener sees when it comes to innovation management?
Poor infrastructure
It will be difficult for people to achieve results without resources, processes or infrastructure. For instance, it's simple to discuss Google's 20 percent time as an outstanding initiative for empowering innovation.

It's still unlikely that your policy could have the same effect if it were used in your workplace. Your employees likely don't have the infrastructure, tools or the raw data Google employees do.

Managers need to ensure that their employees have the tools and resources they require to be successful.

Bernhard Burgener Bernhard Burgener Culture lacks a growth mindset
It's crucial to follow the steps to establish an optimistic mindset for your company. A growth mindset is the idea that you cannot change the person you are.

http://opelforum.lv/user/Bernhard-Burgenerkmat809/ The same is true for the culture of an organization. Companies that do not have an environment for growth are not likely to be innovative.

No vision or clear focus
Innovation in something that doesn't already exists is often a source of significant breakthroughs.

A clear vision more likely to draw enthusiastic individuals who are willing to create creative solutions. You can have a brilliant vision but you must communicate your message clearly and in a manner that is understood by the company.

Also, as Bernhard Burgener would say, keep the vision alive, and start innovating!
My Website: https://arto-usolie.ru/user/Bernhard-Burgenercsjh439/