Business Strategy: Innovation Process | Extraordinary Leadership

Part of every business’s strategy should be innovation, or the creation, management, evaluation and implementation of ideas.  As a business leader, consider how many ideas you have and how many more ideas you are presented with over the course of a week.  Then consider, how many you don’t get, meaning those that your stakeholders might have, but don’t give you for whatever reason.
The reason you would want to create a process for ideas and innovation is that without effort, ideas are just ideas.  Even if you consider yourself an innovative company, not having a process makes the innovation process very inefficient.
Something that might have normally taken a few weeks or a few months to develop might end up taking a few years.
The process is relatively easy.  Like any process, you would want to start with the vision, and work backwards.  Consider inclusion of the following as part of your evaluation and process development:

  • What is the idea?
  • Who will manage the idea?
  • Who will manage the process?
  • Does it fit into company beliefs?
  • Is it feasible?
  • How does it fit into our current offerings or the way we do things?
  • What are the risks?
  • What resources will be required?
  • When would we like to have it done?
  • How will we know if we have been successful?
  • What will the outcomes be?

Getting the process down on paper will help the process move along, and help your business to take advantage of emerging opportunities in the marketplace.  As with any process, realize that the process should be reviewed, periodically, to see where it can be improved.  Continuous improvement is a mark of an extraordinary business.
Be extraordinary.
Aepiphanni Business Consulting: The Business Strategy People is a Strategy Consulting Firm dedicated to serving the needs of small to medium sized business leaders and executives. We specialize in helping leaders create extraordinary businesses.  We welcome clients in the personal and professional services industries, including Creative and Design Services, Software & IT Services, Professional Services and Healthcare Services.  As always, we welcome your comments, thoughts, questions and suggestions.  If you are seeking a business assessment, or have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at [email protected].
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