Notes

Bernhard Burgener on the importance of Innovation management
To stay relevant Companies must foster the development of innovation through innovation governance.

Bernhard Burgener is a veteran businessman and entrepreneur who believes in innovation as the only way businesses can continue to thrive. To stay effective in the long run innovation is essential in keeping current with the changing demands of the market.

Read on to learn how you can improve the management of innovation within your business.

What exactly does innovation management mean?
Innovation management, in its various forms is the subject of debate. The nature of the definitions of innovation suggests that they are not manageable.

In contrast, others have a firm belief in creating processes and systems to generate more innovation. As you might imagine, reality is not so straightforward.

Let's revisit the word "innovation" and what it entails. Merriam-Webster define "innovation" as "introducing something new." It's not the exact same as creating new products.

"Innovation management" is the term used to describe managing the entire process required to "introduce something completely new."

The definition of innovation states that there are various types of innovation. This is why there are numerous disagreements over innovation.

People often use the generic word when they are referring to a specific portion of the field of innovation. Even so, they're limited to their experience and organization's point of view.

The four pillars of innovative management that Bernhard Burgener has identified
Based on his experience, Bernhard Burgener has found the most straightforward way to comprehend the topic. It's through dissecting it into smaller pieces and discussing every aspect of innovation management separately.

Here's the first principle Bernhard Burgener said you should focus on:

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

Innovations are dependent on the team and individual skills however, the competency component is focused on people. It is all about the abilities, knowledge and abilities of employees within the organisation.

The person who manages the business has a valid need to become an Entrepreneur .

The model also includes the value of organizational information and know-how. These are all needed to create innovation.

Structure
While capabilities can be used to construct structures, they also enable them to make effective use of their capabilities. In actual usage this is the case with the organization's structure.

Exemplifying structures can act as an effective force multiplier, allowing organizations to develop new ideas and run more efficiently.

Without the right communications channels, decision-making procedures, and the infrastructure for implementing them, ideas are unlikely to get off the ground. Software like innovation management software could help make a huge difference.

Culture
If the structures can effectively utilize capabilities, the culture of an organization can assist it to acquire the capabilities that people need.

Organizations that embrace innovations culture can make it easier to keep and hire the right employees.

A culture that promotes innovation and discourages discrimination is a great thing. https://www.highlight-communications.ch/en/Bernhard-Burgener.htm Because its effects can quickly accumulate, an organization's culture can affect its ability to innovate. These are the characteristics of an innovative culture.

The importance of continually improving.
You are highly valued for your speed, your learning and exploration.
Acceptance of failure is an integral part of creative development
Allows for sufficient freedom and accountability. Leaders are guided primarily by culture and vision, not a chain of command approach.
Bernhard Burgener Strategy
Strategy can be described as the long-term strategy of an organization's the organization's long-term success.

Bernhard Burgener It is crucial to understand that strategy involves making decisions between several options in order to maximize your odds of success. Bernhard Burgener This choice should not be taken as a separate thing from implementation.

Innovation and strategy are tightly interrelated subjects. However, innovation will only be one of the ways to achieve your strategic objectives.

Bernhard Burgener describes the different kinds of innovation that require different management styles
Open Innovation
This is founded on the idea that creative and knowledgeable people outside of the company can assist in the achievement of the strategic objectives. https://www.weblog-deluxe.de/bernhard-burgener-zum-erfolgreichen-business-pitchmit-bernhard-burgener-zum-erfolgreichen-business-pitch/ They also have the ability to share intellectual property, which is beneficial for different people in various ways.

The more data you can gather more you know, the better informed your decision. Bernhard Burgener The process of developing ideas within the open innovation funnel isn't only restricted to those in the business that facilitates it. An increased number of ideas are also generated.

Incremental Innovation
Incremental innovation can be described as a series of incremental improvements or improvements to an existing product, service, process, or method.

The incremental changes that are implemented through innovations usually aim to improve an existing product's development efficiency, productivity, and differentiation in the marketplace.

Innovations that are incremental can usually increase or sustain the market share of a product. It is now a standard approach in technology for consumers as companies attempt to enhance personal devices by incorporating users-friendly features often.

Sustaining Innovation
It happens when a company creates products that work better and sells them for higher profit. It is usually strategy companies that have been success in their respective fields that employ sustainable innovation.

Profit is the primary factor in innovation. Businesses can boost their profit margins by making better products for their best customers.

Bernhard Burgener Disruptive Innovation
This is innovation that occurs when a company, with less resources, move towards the top of the market and challenge an established business. It is possible for disruptive innovations to be divided into two types.

Bernhard Burgener Low End Disruption- This disruption occurs in a market with an affordable business plan.
Market disruption A company could create or claim a new segment by offering services to a market that is not being explored.
Both types of disruptive innovation are not intended to be defeated by the new entrant. They make incumbents retreat from the market.

What are the most pressing issues Bernhard Burgener sees when it concerns innovation management?
Poor infrastructure
It is impossible for people to be successful without the right processes, resources and infrastructure. Google's 20percent Time initiative is an example of a great initiative to empower innovation.

But even should the policy be implemented at your workplace, it will be less effective. Your employees won't have the access to the information of the infrastructure, the raw data that Google employees have.

The manager has to provide their team with the tools and resources they need to succeed.

Culture lacks a growth mindset
It is crucial to build a growth mindset to your business. The growth mindset believes that you're not fixed nor can you change yourself.

The same goes for organizational culture. An organization won't be able of innovating if it does not have a growth-oriented culture.

There is no vision
Innovation is often the key to substantial innovation. This is also true for companies.

A vision that is inspiring is more likely to attract those who are willing to invest the effort to develop innovative technologies. Even if you have a great vision for your business, it is still important to communicate clearly and easily.

Bernhard Burgener said it best: Keep your eyes open, and start creative!
Here's my website: https://www.wsj.com/market-data/quotes/CH/HLEE/company-people/executive-profile/118081