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Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. When senior leadership says they want ‘innovation’ within the company, what does that mean? As the CEO goes, so goes the company.
A culture of innovation is like the weft: weaving through all the individuals to create a cohesive, two-dimensional “fabric” where innovation is embedded throughout. However, it is the individual “warp” strands – the people in their various roles – that develop different innovations.
When it comes to measuring direct financial value, start by asking yourself: Did the innovationprogram produce any breakthrough ideas that were brought to market? As a bonus, softer metrics can be reported on easily, as well as early, in the life of your innovationprogram. Adopt a tracking mechanism to measure value.
Establishing the right innovation process to deliver on your enterprise company-wide strategy can be a real challenge, but it is crucial to the success of any innovationprogram. All of these need to be used at the right time, and in the right way, so that your innovationprogram delivers maximum value at minimum cost.
Don’t have time for innovation? This third entry in the “Sincerely Sima” Innovation Q&A series provides some tips for fitting innovation into your schedule, whether you’re an employee participating in an innovationprogram, a manager who’s leading one or a senior leader who’s tracking and expecting results.
Sofie Blockx, Head of Corporate Change & Culture at KBC, said it best, “The financial services industry is at a tipping point. Knowing this, KBC launched an innovationprogram that would energize the company and its entire workforce. KBC, in fact, wanted innovation to be part of its DNA. The birth of The Pitch.
A New Blueprint for Collaborative Innovation. The skinny: Chief innovation officers, leaders of innovationprograms, and people who seek transformative change for their organizations should definitely be reading the Dirty Maple story and applying the blueprint to their own situations. Who it’s from: Doug Collins.
The innovation book Robert’s Rules of Innovation: A 10-Step Program for Corporate Survival hammers the point home that innovation is the key to your company’s survival—in other words, “innovate or die.” Think of a culture of innovation as the rocket fuel that drives innovation implementation forward.
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