What does an innovation manager do?

Innovation management is the strategic process of developing and implementing new ideas to drive business growth. It involves generating, evaluating, and executing innovative solutions to enhance products, services, and operations, ensuring the company stays competitive and adapts to market changes effectively.

An Innovation Manager ensures the success of an organization's innovation efforts by overseeing the entire program, aligning initiatives with strategic objectives, and managing the innovation portfolio. They evaluate and select ideas, guide projects through development stages, and ensure compliance with standards like ISO 56002. By leveraging metrics, facilitating unbiased project selection, and allocating resources effectively, they drive consistent and sustainable innovation outcomes, adapting swiftly to changing strategic goals. Their role is pivotal in transforming ideas into impactful innovations while maintaining organizational agility and alignment.

Innovation management is a strategic function within an organization, focused on driving organic growth by leveraging product and service innovation to boost profitability and market share. While innovation can take many forms, my focus is on product and service innovation. This approach requires a structured and disciplined process; without it, teams can quickly lose focus, leading to chaos and inefficiency. Properly managed, innovation becomes a powerful tool for sustainable growth and competitive advantage.

Innovation management is all about product and process improvement, thinking and designing new ways, skills and resources to come up with profitable product that can take the market by storm. It can have a trajectory following the innovation cycle depending on product maturity dovetailed on the business process.

I once had a boss who talked a lot about how important it was to come up with fresh ideas and take action. But whenever we tried to suggest something new, it felt like hitting a wall. Our boss was always hard to reach, and without his approval, nothing could move forward. So, no one bothered trying anymore. To me, being an innovation manager means not just talking the talk but also making sure there aren't any obstacles blocking the way. It's about making it easy for people to share their ideas, encouraging them to try new things, and giving them the support they need to make those ideas happen. Without that, all the talk about innovation doesn't really mean much.

Innovation Managers must be flexible, agile, and aware of what is expected of them based on the organization. It can be the front end and leave the execution to operation, it can be to build new revenue streams and business models, it can be highly strategical... or it can be the whole thing.

Based on my experience, an innovation manager must excel in creative problem-solving, always thinking outside the box with the customer at the forefront. Continuous learning is essential, as it's important to acknowledge what you don't know and seek insights from others. Understanding different departments within the organization allows for a tailored approach to innovation. Empathy is crucial, helping you navigate challenges by putting yourself in others' shoes. Lastly, the ability to make tough decisions and craft compelling stories is key to driving successful innovation. These qualifications are vital for anyone looking to lead and inspire change.

In addition to bringing creativity and resilience, it's essential to have a pulse on the business problems and gaps. Innovations are not always brand-new products, rather a process improvement can be considered an innovation if it leads to business value. Furthermore, keeping the changes in the market and evaluating new solutions concerning the business objectives and company landscape.

The role of an innovation manager isn't solely about generating groundbreaking ideas themselves. Rather, it's about empowering every employee across the company to contribute innovative solutions within their respective fields. It's not about the manager's individual achievements; it's about facilitating an environment where everyone feels encouraged and supported to innovate. Defining KPIs that reflect this broader goal ensures that the focus remains on enabling and streamlining innovation processes throughout the organization. By aligning these indicators with the company's strategic objectives, the innovation manager can effectively guide and measure the impact of their efforts in driving overall innovation culture and success.

An innovation manager must have both large and small scale perspectives i. e. comprehensive understanding, leading and being able to ensure that the company innovation strategy and forecast are translated into something doable at the prototype and factory level.