The (Non)Sense of Employee-Focused Innovation Training

A lot has been written about Innovation Training in the recent past. At Culturevate, we clearly see the sense of such training, but there are some important conditions that needs to be met for these efforts to generate long-term impact for an organization. Not all companies understand these conditions, which often leads to mediocre results and missed opportunities. One extra difficulty is that a good Innovation Training should be driven by and aligned with several functional parts of a large corporate organization.

An innovation training effort should be an integral part of any corporate innovation program/strategy. A concrete training effort gives a clear message that innovation should be taken seriously and supports your employees who may not know how or where to begin.

However, just launching an innovation training effort independently, without context to a company’s strategy or culture, will create confusion and generate low output at best. We prefer a model that makes use of the momentum of a training effort to explain (and reinforce) the organization’s innovation program and strategy throughout the curriculum. This way, you achieve the additional advantage that a big picture strategy is much better understood by the community and that the training fits in the big picture strategy of the company.

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13 Practices of the World’s Most Innovative Organizations

    Successful organizations know the significance of innovation in business. Apple is a good example of how effective innovation management can improve your products and scale up your business. After reaching on the brink of collapse, it achieved new heights of success by implementing effective innovation management policy. The success of its innovative management strategies once again brought it in the league of leading organizations. If you are an entrepreneur who wants to learn from innovative management strategies of successful organizations, consider the following thirteen strategies.

In non-technical language, innovative management is any process that involves changes in planning, ideation, technical execution and production of resources in a way that can make a system more functional for people. In context of business, it focuses on two major objectives:

• Improving operational systems of an organization
• Enhancing products/services for end-users

In the former case, it takes into consideration the leadership, management and resources that make up the working machinery of an organization. In the latter case, it works on the systems and processes involved in creative and technical aspects of developing a product/service. An effective innovation strategy results in better performance of employees, increased productivity and higher customer satisfaction.

Read the full article about 13 Practices of the World’s Most Innovative Organizations at Innovation Management.

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Risks in Innovation Leadership Talent

You don’t need to look far to see risk in innovation leadership. Yet many entrepreneurs lack a sufficient understanding of how to judge and deal with risks. In this article we introduce a model for classifying risks in innovation leadership. In turn, we discuss how some of these risks can be reduced or averted, and in some cases even embraced and reframed to mean something positive.

According to some statisticians, more than half of all startups fail within their first five years of existence; figures on innovative startups are even bleaker. A first round of investment is no guarantee for success, either-  the generally accepted figure is that roughly three-quarters of venture-backed firms won’t ever return their money.

“One of the inherent virtues of innovation leadership is that the excitement of the opportunity outweighs the perceived risks of loss and failure. ”

Low probability – low impact risks: to be ignored

Risks that have a low likeliness to occur and low potential impact are not worth spending much, if any, time on. 

Low probability – high impact risks: to be insured

Risks that have a high potential impact but a low probability can often be averted through insurance. This is desirable when the benefits of insurance are likely to outweigh the costs.

High probability – low impact risks: to be averted

These risks, due to their low severity, are as inconvenient as they are avertable. Examples of risk in this category are: a key team member becomes ill just before an important deadline; a computer crashes with all the customer data information.

High probability – high impact: to adapt to

The risks in Quadrant 4 are of key concern for innovation leadership (and any existing business), as they are too costly to insure and cannot simply be ignored or averted due to their severity.These risks are the real company killers, often tapping into the core beliefs and (informed or non-informed) assumptions that businesses have built their product or services on. All elements of the enterprise (market, competition, leadership, operations, legal, finance) are exposed to such risks.

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