In this article written by Morten T. Hansen and Julian Birkinshaw, it's depicted that how managing innovation is like a series of steps that need to be arduously followed.
Managers need to take an end-to-end view of their innovation efforts, pinpoint their particular weaknesses, and tailor innovation best practices as appropriate to address the defi ciencies.
The innovation value chain composes of three main phases of innovation:
Idea Generation (for ideas inside your unit; looking for them in other units; looking for them externally)
Conversion (selecting ideas; funding them;)
Diffusion (promoting and spreading ideas companywide).
Managers can pinpoint their weakest links and tailor innovation best practices appropriately to strengthen those links. Companies typically succumb to one of three broad "weakest-link" scenarios. They are idea poor, conversion poor, or diffusion poor.
Rarely do executives examine their company's innovativeness--the capacity to conceive, develop, roll out, and improve new offerings--as a whole.
Read the full article here. Do share your comments on innovation value chains of leading firms.
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2 comments:
that's gr8
ok fine
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