It’s often said Canadian businesses aren’t innovating enough and we risk losing our competitiveness. Let’s explore an innovation process that’s part of a business relationship mapping tool I recently designed.
Below is a graph of part of the innovation process:
First, let’s look at goals. You can have immediate goals such as improving team communication or you can have longer term goals such as designing a new product.
Second, let’s establish some parameters and metrics. Parameters are guidelines that those working to achieve the goal must respect. There may be few parameters – the only thing that matters is that the time delivers by X date, budget-smudget (that doesn’t happen often). You can also have the scenario of having many parameters: the project must conclude by X date, within Y budget, using ABC personnel.
There’s another way of looking at parameters and that’s using parameters to stretch the innovation. Project must be done by X date using newly developed resources. What are those resources? Don’t know – that’s part of the innovation and resourcefulness of this particular project.
Third, you need to look at your existing network. What are their strengths, what are their weaknesses, what are the knowledge gaps? Then you can start putting feelers out to see who is interested in participating and has the skills and knowledge to compliment your existing team.
Fourthly, you get to be resourceful, scrounge, create, and beg for new resources.
Fifthly, you implement and measure your impact.
If you look at how you are managing people, constraints and resources, you can then start to have different conversations. From those different conversations, all sorts of wonderful impacts can follow.
I’d like to hear from you if you’ve tried to apply this model. Let me know what you think.
Last week I gave a talk on ‘Unique Selling Propositions – The Innovation in the Outliers’. I presented a number of market trends. During my talk I encouraged participants to ask questions and share their own experiences.
One of the changes we talked about is the centralisation/decentralisation trend. Some companies are centralising resources, workflow, funds, and decisions. Others are horizontalising, spreading out the decision-making and resources.
A participant worked in the creative industry. He saw how there was a big push to decentralise products and services, work with a collection of contractors instead of one large entity, and seek revenues from alternative sources such as crowdfunding to get projects off of the ground.
Another attendee had a foot in two worlds: one product she was selling was through a highly centralised model and a second product she was selling was through a highly decentralised model.
There’s value in aligning yourself with a trend. There’s also value in intentionally not participating in it. To generate the most benefit for your clients and dollar for your efforts, you need to understand how your target market will want to receive their product.
Whenever you hear about market trends, I encourage you to think about these questions:
Have you recently changed some of your business practices to incorporate market changes? How did that work out for you? I’d like to know more about it.
Allo there ~ I'm Renée and this is my blog on leadership and business development. Here I explore the nexus between leadership, conflict resolution, networks, innovation and prosperity.