Innovation management requires assessing the organization from several angles. Many corporate innovation leaders we find are seeking out the next tool or software solution but will it have the effect on innovation results that they want? For most organizational leaders looking to improve their innovation results, focusing on process alone is likely to be the least effective. Why is this the least likely place to start to improve innovation management? Because people run processes. Great innovation management requires the right people, this factor is the most critical to improve results. Next, is that within the organization innovation management and leaders foster the right culture (and environment). Thus, when you are seeking to improve innovation results, the process and tools that are implemented should be done within this context of ensuring the right people and right environment are in place.
This is why The Valen Group utilize a holistic approach to improving results. Our innovation assessment focuses on three areas of innovation management:
Innovation is doing new things that create value for the organization. In many cases, innovation is hard because to do new things we must create something. Creation or discovery, when observing, might look quite random at times and can be serendipitous in many cases. Doing something new also means that change is involved which is uncomfortable for a profitable, large organization with structure that has provided significant returns and value in the past. Innovation management should look for team members who are open to new ideas and environments. These are the innovators who find insight and leverage stimulus that helps them think in new ways. It is because of the openness of our team members, and the freedom given by innovation management who sponsor these efforts, that an organization is more likely to result in breakthrough innovation solution. Openness is one of the factors that we consider when assessing team members. Another factor is flexibility, because the problem-solving skills necessary to generate ideas are different from the skills to assess the feasibility or value of a concept, solution or new business model. It is important that your consulting firm partner has methods to manage and assess these skills so you get the best results from your innovation teams. We have an innovation management solution to assess each team member’s problem-solving thinking style that helps them learn their preferred methods and how to recognize the various methods needed as we go from concept to execution, vastly improving team results.
Innovation Management of New Business Models is extremely difficult for Corporations
Success in innovation management in large organizations, such as sponsoring a team that creates a rare, new business model, is very difficult for corporate leaders to...
What We Do
Innovation Strategy Assessment
This is focused on innovation direction and communication where we assess the understanding, clarity and linkage to growth strategy, how innovation strategy fits within growth strategy, and where growth is coming from. It leverages growth and financial results due to innovation and historical projects across the corporation, division or target group.
As part of this assessment we typically explore critical activities and results from innovation as defined:
Which is heavily influenced by management behavior and culture. We assess what types of projects are prioritized, promoted, funded and especially how failure or learning is viewed in context of business risk and risk management.
Which assess how members of innovation teams approach problems, how they perceive others and assess best practices across the core elements of the innovation process.
Which assess the innovation process, interaction, collaboration, and hand-offs. It includes the type of innovation such as portfolio formation, prioritization and management, and other aspects to improve speed, effectiveness and allocation of resources to better results.
Innovation Management Services
- Benchmark Studies of your innovation practices against best practices and provide a recommendation for areas of improvement in innovation
- Innovation Strategy approach to define and separate types of innovation and provide methodology to build a multi-year roadmap for innovation team direction
- Innovation Consulting services on organizational structure and management practices to improve clarity of ROI, alignment to vision and strategy and ability to produce well defined results
- Innovation Metrics development or enhancement to deliver a cohesive set of a few key performance metrics through our innovation metric development methodology
Example of Innovation Management Engagement Experience
- Assessed the innovativeness of a major healthcare instruments company whose teams were not as effective as they could be; identified lack of ideation thinking styles and limited climate of trust due to project team formation, multi-department oversight; recommended people and team on-boarding changes that improved team morale and effectiveness.
- Developed an innovation process that reduced the development cycle by 40% by setting strategy and defining platforms for development.
- Trained senior management on the linkage between strategy and innovation (technology and application of technology, NPD) in driving competitive advantage and financial results.
- Global benchmarking study to recommend a global coordination model for innovation linking decisions from core technology, application of technology to regional/local market customization.
- Defined a venture development process to incubate new businesses and business models to expand the boundaries of the organize and helped them manage higher risk growth projects separate from core business.
- Integrated into the innovation approach best practice design thinking with lean startup methods to leverage behavioral insight methods in a flexible framework to improve probability of success in front-end innovation.
- Innovation metrics development for a major food & beverage company who was reorganizing their R&D packaging technologies, etc. into innovation groups.