Notes

Bernhard Burgener on innovation management's importance
To stay competitive over the long run, companies need to foster innovation through innovation management.

According to Bernhard Burgener, a veteran entrepreneur and businessman Innovation is the only way to succeed in business. He believes that keeping relevance, in the long-term, requires innovative management to keep up with the needs of the market.

Learn more about how to implement innovation management within your company.

What does innovation management actually really mean?
It is a subject of debate and debate as innovation management is a concept. The very definition of innovation implies that it is unable to be controlled.

Others are staunch believers in developing processes and systems to boost innovation. The reality is not always as simple as it may appear.

Let's take another look at the concept of innovation and what it means. Merriam-Webster defines "innovation" as "introducing something completely different." https://www.aargauerzeitung.ch/sport/bernhard-burgener-der-abtretende-fcb-praesident-im-grossen-interview-ich-hoffe-dass-kein-neuer-boeser-mann-gefunden-wird-ld.2143399 It is not the exact same as simply creating new products.

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

There are different types of innovation according to the definition indicates. This is the main reason for many disagreements in innovation.

It is common to use the generic name when referring only to a specific type of innovation. However, this is solely from their point view and experience.

The four pillars that are essential to innovation management, as per Bernhard Burgener
Bernhard Burgener learned the best way to understand this topic through his own experience. https://tbivision.com/tag/bernhard-burgener/ This is accomplished by breaking down the topic and examining each aspect of innovation managing separately.

Bernhard Burgener emphasized the importance of this foundational pillar.

Competency
Competency is the ability of an organization to create and manage innovative ideas.

Innovations are a collaborative effort. But, the competence part is mostly about people. This is primarily about the capabilities, knowledge, and practical skills of employees within the company.

For the leader of the organization there is a legitimate necessity for an entrepreneurial leader.

The model also incorporates the firm's information and tacit knowledge. These could all be needed to create innovation.

Structure
Although capabilities can be utilized to construct structures, they also allow them to make efficient use of their abilities. The structure of the company is and processes, as well as the infrastructure and organizational structure.

Exemplary structures can serve as an effective force multiplier, allowing the company to function and innovate better.

A few ideas are not likely to succeed without the proper communication channels, decision-making processes, and appropriate implementation infrastructure. This is where tools such as innovations management software could be beneficial.

Culture
The culture of an organization can help it to gain the abilities of its employees when it has the appropriate structures in place to achieve this.

A culture that is open to innovation makes it much easier for the company to attract and retain the right people.

An appropriate culture of pro-innovation is a good way to encourage the right behavior and discourages wrong ones. A company's culture has a direct impact on its innovation. Its effects can quickly accumulate. These are the hallmarks of an innovative culture.

This underscores the importance of always strive to improve.
It is crucial to be fast, learn quickly, and conduct some testing.
Accept failure as a necessary part of the creative process
This allows you to have enough autonomy to take responsibility and ensures that the leader is more focused on vision and culture than a chained-of-command approach.
Strategy
Simply put it is a company's strategy for achieving long-term success.

It is important to recognize that strategy is the process of making conscious choices. These decisions need to be made among a variety of options to ensure you have the greatest chance of "winning." This decision should not stand alone from the implementation.

Strategy and innovation are closely linked issues. However, in the end innovation is just one way to achieve your strategic goals.

Bernhard Burgener states that there are many types and styles of innovation.
Open Innovation
It's based on the notion that creative and talented individuals from outside the company can be able to contribute to the strategic goals. They also have the ability to share intellectual property which can be beneficial for diverse parties.

The more information you gather, the better the final decision. The process of developing ideas in the open innovation funnel isn't only restricted to those in the business that facilitates it. In addition, the number of ideas generated is higher.

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

Incremental innovation tends to improve the effectiveness and efficiency of development of existing products, and also their competitive differentiation.

Incremental innovation is typically used to maintain or improve the market position of a product. This approach is typical in the field of consumer technology. Manufacturers are constantly striving to improve their personal devices with features that are user-friendly.

Sustaining Innovation
This is when a company produces better-performing products that can be sold at higher prices to their best customers. Usually, it is a the strategy that companies that are already profitable in their fields employ.

Profit is what drives the development of new products. Businesses can improve their profits by creating more efficient products for their top customers.

Disruptive Innovation
This innovation is when a company that has limited resources competes with an incumbent company and moves towards the upper end of the market. It is possible to divide disruptive innovation into two kinds:

Low-end disruption This is disruptive activity occurring at the lowest end of an existing market which employs a low-cost approach.
A new market disruption By catering to an unserved market, a company develops and asserts a new market within a market.
https://www.frick.ch/behoerdenmitglieder/30338 Instead of fighting new entrants, both types disruptive innovation forces incumbents to retreat.

What are the issues Bernhard Burgener sees in innovation management?
https://www.moneyhouse.ch/en/person/burgener-bernhard-17052362701 Poor infrastructure
Without the infrastructure, resources and procedures needed to make an impact, it will prove difficult for people to accomplish so. For instance, it's simple to talk about Google's 20 percent time as an outstanding initiative for empowering creativity.

If your business has the same policies the policy would likely be less efficient. Your employees probably don't have access to the same tools and infrastructure, as well as the knowledge or raw data employees at Google have access to.

Managers need to provide the right resources and capabilities for their teams for them to succeed.

Bernhard Burgener Culture lacks a growth mindset
It is crucial to create a mindset of growth to support your business. Growth mindsets are based on the belief that your personality isn't permanent or cannot be altered.

This is also true for organizational culture. Companies that do not have an environment for growth are not likely to be innovative.

There is no crystal clear view.
It is not uncommon to design something that isn't there yet, which is often the basis for big innovations.

If you are able to articulate a compelling vision, it is more likely that employees are motivated to work harder to create new innovations. Even if you've got an excellent idea for your company but it's still essential to communicate clearly and easily.

Bernhard Burgener said it best: Keep your eyes open, and start creative!
My Website: https://www.aargauerzeitung.ch/sport/bernhard-burgener-der-abtretende-fcb-praesident-im-grossen-interview-ich-hoffe-dass-kein-neuer-boeser-mann-gefunden-wird-ld.2143399