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Ways of becoming an innovative organisation - Coggle Diagram
Ways of becoming an innovative organisation
Ensure that the culture of the busiess supports innovation
This means creating an environment where employees are encouraged to generate and implement new ideas, products, processes, or services. It involves fostering a mindset of continuous improvement and a willingness to take risks.
Introduce a kaizen approach
Kaizen is a Japanese business philosophy that emphasizes continuous improvement in small, incremental steps. It involves all employees, from top management to the workers on the shop floor, in making improvements.
Pros:
Encourages a culture of continuous improvement.
Fosters employee engagement and empowerment
Helps in identifying and solving problems early.
Cons:
May require a shift in mindset and culture, which can be challenging for some organizations.
Progress can be slow and may not yield immediate, dramatic results.
Invest in research and development
This involves allocating resources, both financial and human, to explore new technologies, products, and processes. R&D is essential for staying competitive and driving long-term growth.
Cons:
Can be expensive and may not yield immediate returns on investment.
Not all R&D efforts lead to successful outcomes.
Pros:
Demonstrates a commitment to innovation, which
can attract top talent.
Enhances the organization's ability to adapt to changing market conditions.
Can lead to the development of new products or services, giving a competitive edge.
intrapreneurship
Intrapreneurship involves employees acting like entrepreneurs within a larger organization. It encourages employees to take risks, innovate, and develop new projects or initiatives.
Pros:
Requires a supportive organizational culture and structure.
Can be challenging to balance with the organization's existing operations and priorities.
Cons:
Fosters a culture of innovation and creativity.
Can lead to the development of new revenue streams or business models.
Empowers employees and can lead to higher job satisfaction.
Benchmaking
Benchmarking involves comparing an organization's performance, products, or processes to those of other companies or industry standards. It helps identify areas for improvement and best practices.
Pros:
Provides valuable insights into industry trends and best practices.
Helps set realistic performance goals and targets.
Cons:
Comparisons may not always be apples-to-apples, leading to potentially misleading conclusions.
Over-reliance on benchmarking can lead to a "copycat" mentality, stifling true innovation.
Organisational Structure
The organizational structure defines how roles, responsibilities, and tasks are allocated within a company. It can impact how information flows and decisions are made.
Flat or matrix structures can encourage collaboration and idea-sharing.
Departments or teams dedicated to innovation can be established.
It can either encourage or hinder innovation, depending on how flexible and adaptable it is.
A well-designed structure can facilitate communication, coordination, and efficiency.
Importance
:
Barriers to innovation
These are factors or obstacles that hinder or impede the process of generating, developing, and implementing new ideas.
Examples:
Fear of failure, which can stifle risk-taking and creativity.
A rigid and bureaucratic organizational culture that resists change.
Lack of resources or funding for R&D.
Cons:
Barriers can slow down or completely block the innovation process, leading to missed opportunities.
Pros:
Identifying and understanding barriers can lead to their mitigation or removal, fostering innovation.