Funding Innovation
We all would like our organisations to be innovative but, like marketing, there is no such thing as free innovation.
So how do you manage it, measure its effectiveness and justify investment in it?
The most important thing is to figure out what is innovation actually is to you.
It is not (necessarily) the new product or service.
It is not the wizzy new advert
It’s not the new on line customer service line
It’s not the new way of assessing suppliers
It’s not the new QA system
It’s not about Six sigma Just in time, or Lean Manufacturing
It’s not about recruiting people who fit, not skills
It’s not about recruiting job titles
It’s not about stopping recruiting only people who have five years experience in your industry sector
Its not about allowing and encouraging risk
Its nor just about giving your people room and permission to fail
Its about all of the above. And so much more
So how do you justify all these before? How did you justify the investment in the new machine tool, the new fleet of vans the new retail space. ( your web site) Use the same metrics and arguments
Innovation is about continuous elimination or worst practice. How much is worst practice costing you?
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