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Blog
Rakesh Devpura
Ankush Mohla
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Continuous, scaled and fast innovation is a necessity for any enterprise to stay relevant to their customers and ahead of competition. Enterprises must lead innovation to solve existing problems and create demand in a new and efficient manner or meet the unmet/unarticulated needs.
As enterprises drive innovation, they seldom do an introspection of the challenges that are regularly faced around value, reuse, and scale. This ultimately hinders their acceleration towards growth and transformation which leads to lack of industrialization of innovation.
Below are some of the factors outlined to be taken into consideration to help to address these challenges, and foster the culture of innovation to drive value with an emphasis on scale and reuse:
An infographic on the factors which promote a culture of innovation in an organization. These include business theme (innovation linked to business purpose and priorities), executive commitment (beyond financial sponsorship), integrated innovation (to enable collaboration and remove silos), ecosystem (looking beyond an organization’s boundaries), instruments of innovation (leveraging ideathons, hackathons, innovation days, etc), defining the right problem statement, encourage diversity of thought, share and reuse, and measuring progress (both behavioral and outcomes).
In conclusion, fostering an innovation culture with the right mix of the factors mentioned above is essential for organizations to lead and navigate into new frontiers to build a great future with an emphasis on value, reuse, and scale.
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