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innovation
Ignite innovative power
The ignition key for the successful engine
What is the future made of?
What drives people and what are the most groundbreaking solutions based on?
In this blog post, you will not only learn why innovative strength is important for companies, but we will also take a look at methods that improve the ability to innovate.
Explained in a clear and concise way, you will receive inspiration for innovations and learn why innovative strength is important.
What is innovative power and why is it important?
Creativity, imagination, ingenuity — the list of synonyms for innovative strength could be continued indefinitely. All terms have one message: they describe the ability to develop new products, services or processes through creative ideas, flexible adaptation and a pinch of risk-taking.
Why is innovative strength important?
Innovative strength is crucial for personal and entrepreneurial growth, competitiveness and adaptability.
As an innovation or project manager, you should set the pace for tomorrow's trends.
Is innovation measurable?
There are a few key figures that you can use to measure the success of your work as.
Innovation rate
The innovation rate creates a connection between revenue generated through innovations and total turnover. The rate shows the percentage of new innovations that have contributed to total sales.
Innovation rate
The innovation rate can be used to determine the share of innovations in the company's total product range.
Innovation portfolio
The analysis of the innovation portfolio provides an overview of whether the product range is outdated or driven by innovation.
degree of innovation
How innovative is a company really? Relate the product to its purpose to determine the novelty. The renowned German Economist Jürgen Hauschildt has developed this key figure. It shows whether innovations are incremental, purpose-induced, medium-induced, or breakthrough innovations.
True or false?
“New ideas are expensive”
121.4 billion euros were reported Federal Statistical Office 2022 spent on research and development in Germany. But that doesn't mean that you absolutely need a large budget as an innovation manager. Because everyone can use their innovative power to be innovative. It is important to know what a target group really wants.
“Only true geniuses have innovative power! ”
Leonardo da Vinci, Isaac Newton, Nikola Tesla — these are just three of the biggest innovators. But do you also know Josephine Cochrane? Josephine wasn't a trained engineer, she was just annoyed by the broken dishes when washing up. So she invented the dishwasher. Not a genius, but a brilliant inventor!
“First come first serve — innovations only work if you are the first to develop them! ”
You don't have to reinvent the wheel, because there are different types of innovations:
- Revolutionary innovation: A completely new technology, service or something else is being developed.
- Evolutionary innovation: Is the continuous improvement of existing ideas.
- Frugal innovation: Development that focuses on core functionalities, e.g. to improve performance or reduce costs.
Explained clearly and concisely: How do you increase innovative strength through design thinking
Even if you're bursting with innovative strength, the brilliant idea can require a bit of work with under. That's why you should try out the Design Thinking method.
What is design thinking?
Identify new needs and develop new solutions and ideas as a team. The approach is iterative, customer-centered, problem-solving focused, and is based on creativity and collaboration. Coming from the field of design, Larry Leifer, professor at Stanford, transferred the approach to other areas.
The problem-solving process
The design thinking process consists of six phases:
- understanding
- Observe
- Develop a concept
- Develop an idea
- modeling
- testing
Once one has understood what the initial problem is and has defined it, the understanding should be supported by observations. What do customers say, for example? Then develop a concept, as a roadmap. Now comes the creative phase: Put several ideas on paper with your team.
Sometimes the ability to innovate consists of breaking new ground, even if they don't lead directly to success.
Have you identified a profitable idea? Implement them! A prototype can be extensively tested by the innovation team, but also by customers.
Analysis and data as a basis
Don't forget: It always starts with an inventory!
Use the key figures described to measure innovative capacity and look for clues by which you can measure the success of an innovation process afterwards.
How many customers have complained about the product? How many different problems were there? What are the costs of these problems?
After the innovation process, the old status can be compared with new data.
Use tools to find new ideas, increase innovation, and channel
AnyIdea is an AI innovation platform, which offers numerous opportunities to promote innovative thinking and innovative strength. Based on data and with AI, you can identify important trends and develop fresh ideas, problem solutions and suggestions on specific topics.
With AnyIdea, not only employees, but also partners, customers, experts, interested parties and many others can develop ideas together (Open Innovation). Because innovative strength always develops when people meet and work together on a collective task.
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Would you like to learn more about how AnyIdea can help your company generate ideas or approach open innovation in a practical way? We are happy to give you practical insights and show them possible use cases!
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