Letter From My Desk #16: 5 Innovation Styles for your Business
Gaurav Agarwaal
Senior Vice President, Global Lead Data & AI Solutions Engineering | Field CDAO and CISO | Technology Thought Leader | Driving Customer Value with differentiated Cloud, Data, AI and Security solutions
We all endeavor to cultivate a high-performance work culture in a professional context. However, regardless of size, context, or culture, a high-performing team and work culture must be built on Innovation. Exceptional leaders use new ideas to establish a successful business in this respect. Therefore, inspire and think very innovatively to collect ideas, convert them into reality, and foster an ongoing innovation culture.
I love the quote from Steve Jobs, "Innovation is the ability to see change as an opportunity" –not a threat
The type of Innovation you select is determined by your company's ability to receive ideas, organize actions, and implement change. Five different styles of Innovation:
- Disruptive Innovation - flips the established order on its head quickly. Disruptive Innovation is the process by which a smaller company with fewer resources can successfully compete against established incumbents.
- Cumulative Innovation - is revolutionary and implemented in phases. "Cumulative innovation" is a platform for existing product, service, process, organization, or approach whose performance has been significantly improved."
- Open Innovation - enables everyone in your organization to add their thoughts. Create unique Challenges to help you focus your thoughts within a time limit. This can help you focus your thoughts and extract your true worth.
- Innovation, a Funnel for Creativity - Some individuals associate innovation management systems with dark caverns. Through an innovation funnel, impractical and incorrect ideas are filtered away and kept the best for planning, pricing, and development to implementation.
- Continuous Innovation - is defined as the ongoing, steady evolution that occurs in our activities, processes, and creations. Keep an eye out for the word 'gradual.' 'Gradual' creates exceptional products and services, not one-offs.
Eventually, the innovation cycle is repeated by creating a new method, product, service, or business model that adds value to the company.
Which Innovation style or set of innovation styles do you think are most important for enterprises in the current time? Leave your feedback and Vote in the comments sections.
Compassionate Technology leader, Digital/Cloud Transformation Specialist, Customer Success, Diversity and Inclusion Advocate and Speaker, Victorian Branch Leader
2 年Great article - Love the thought that Innovation is about creating a new method, product, service, or business model that adds value to the company
Purpose-Driven Digital Transformation Leader | DevSecOps | AI Practitioner | Building Secure, High-Performance Systems | Growth-Driven Professional | Passionate learner
2 年Thanks for the share Gaurav Agarwaal . Open and Continuous innovation. Based on different situations different styles needs to be adopted.
Trusted Advisor | Sales GTM | Investor | Data & AI Enthusiast |
2 年Great article. Thanks for sharing. I usually kick it off with "Disruptive" and once thing stabilize, stick to "Continuous". All the above have their own merits though and I can speak from my experience of handling high growth business streams.
Principal Architect - Cloud, Data & GenAI | Database Reliability Engineering Management | IT Operations Delivery | Technical Program Management | Service Excellence | Customer Success | Design Thinker | IIM Kozhikode
2 年Thanks Mr. Gaurav Agarwaal for this interesting article.?In my view, all the Innovation styles are important. However, the selection depends upon industry analysis and how fast an organization operating in it want to achieve the Competitive Advantage. A newbie riding on latest tech aiming for first order effect would opt for Disruptive Innovation whereas incumbents would continue reap the early mover advantage and build a differentiation edge through Cumulative approach. Also, in current time, organizations are expanding the Open Innovation beyond organizational limits by adopting crowdsourcing as seen during Coding Hackathons. Innovation is not one time and therefore setting up Innovation Funnel and adopting Continuous Innovation practice becomes indispensable for any organization. #innovation #innovationstrategy
Microsoft Cloud AI partner APAC, Middle East, Panelist, Keynote speaker, MCT, Trainer, Digital Strategic consultant, Certified SAFe? 5 Product Owner
2 年Simply thoughtful Gaurav