Organizations today face unprecedented challenges in light of technological and industrial progress and the increase in challenges they encounter, as these organizations of all kinds has become very important and effective in society, that makes them in dire need of innovation and finding unconventional solutions to the problems they face.
Innovation is the way to find new solutions to the challenges we meet, and it is defined as any thought, behavior or any new form or method because it differs qualitatively from the existing forms, it is also the observation and generation of new ideas through the availability of divergent viewpoints and coordination of actions necessary to implement these ideas and translate them into innovations.
The definitions of innovation can be divided as follows:
Innovation as a process: that innovation is the development and application of new ideas by a group of employees who have interactions with others within the framework of an institutional system.
Innovation as an outcome: the innovation is the invention that has been introduced to the market in the case of a new product or the first use in the production process in the case of process innovation.
What is Innovation Management?
Idea management is an organized process of obtaining ideas and evaluating them to determine the ideal idea that allows the creation of added value for the organization and leads to the achievement of creativity and innovation within the organization or company. Innovation is not only helpful to create and establish new ideas but also to find solutions for existing problems.
Establishing management of ideas that helps encourage participation in innovation requires a number of factors, including the following:
- Create an appropriate atmosphere and environment and follow a simple rule to stimulate the creation of ideas and contribution, as in the best way to get an innovative idea is to have a lot of ideas.
- Attention to individuals, and all ideas.
- Encouraging new and original ideas.
- Managing productive ideas and creating a contribution to innovation.
An innovative idea is a network of interconnected and changing ideas that can be developed and improved through exchanges and dialogue between different members.
Stages and steps of the idea management process
The innovative project can be divided into 4 stages:
1. Idea Generation
2. Rough concept
3. Detailed concept
4. Market launch
The importance of innovation
- Develops and monitors personal skills in collective thinking and interaction through brainstorming teams.
- It increases the quality of decisions made to address problems at the level of the institution or at the level of its sectors and departments, in the various technical, financial, marketing and social work environment areas.
- Improves product quality.
- It helps to reduce the period between the introduction of a new product and another, which contributes to the institution's distinction in terms of competition over time.
- It helps to create and enhance the competitiveness of the enterprise.
- helps to find ways to activate and increase the volume of sales.
- Helps to create and enhance a good mental image of the institution with its clients.
In addition, the institution's introduction of innovation that no one has preceded before may allow it to have a partial and temporary monopoly on the market, depending on the degree of innovation intensity.
Types of innovation
Technical innovations: They are the innovations related to the production technology used and the products that the organization produces. This innovation aims to develop the technical performance of the organization by adding new activities (areas or steps) to the organization's production or service systems, and introducing new products or services that the organization has not produced before.
Administrative innovation: it relates to the social system of the organization, which means everything related to the relationships between individuals who interact together to achieve a specific goal. Administrative innovation includes rules, roles, procedures and structures related to the process of communication and exchange between individuals and the environment.
The Four Key Elements of Innovation:
Collaboration
As we have made it clear, a working and collaborating team is very essential the innovation process, and in the divers world we live in today, you must get as many persons and ideas as you can to ensure more diversity of ideas generation.
Ideation
When you have the right team, you will have fresh and new ideas that help your organization grow bigger and better, especially when competition is at the highest stakes.
Implementation
Ideas are worthless if you don’t put them into use, every organization must know what the best idea to choose and how to make it applicable and useful.
Value Creation
Innovation only happens when these ideas add value to the organization which must implement ideas and programs identified in previous stages as most effective in delivering value to stakeholders.
Innovation principles
First: Innovation management is essential for organizations’ survival, and it is a strategic activity that is inseparable from the development and implementation of the company's strategy.
Second: there are four types of innovation: incremental, penetration of products and technologies, new business models, and new ventures, each of which requires an appropriate set of processes, tools and teams.
Third: Innovation is a social art related to the interaction of individuals with each other. Individuals are the core of the innovation process, and from the interaction of their vision and interests, new ideas emerge that can be converted into new value.
Fourth: there is no innovation without leadership: companies are an amazing expression of human society and its creativity.
Innovation Strategy:
- Make innovation breakthrough as a cultural strategy.
- Making use of the most innovative and creative individuals.
- Creating idea markets within the organization.
- To become a disciplined organization.
Best Innovation Management PPT Models PowerPoint Template
After all this it defiantly seems a complicated process to create an Innovation Management PowerPoint Presentation and you have a lot to explain and talk about, thus you are probably worried your important meeting and don’t know how to turn all these data into a graphical showcase of the key aspects of innovation management and the whole process and information.
You can use the matrixes to display the four types of innovation, or Dublin’s charts, or funnels or different kinds of charts, agile, and models all at one PowerPoint template that will make the creation of the presentation process itself way easier.
In this template you will find all the helpful tools such as The Innovation Matrix, The Open Innovation Paradigm, The Open Innovation Model, Influential Factors Slide Phase & Gates Process and Concept Screening plus following:
Key Aspects of Innovation Management: In these slides you can discuss the important components of innovation management, which can be Culture, Capabilities, Structure and Strategy or Collaboration, Ideation, Implementation and Value Creation.
Innovation Funnel Management Process: Here you can how ideas is filtered and developed to the concept for launch phase after going though multiple stages these slides show neatly.
Five Stages of The Open Innovation Process: As we have mentioned innovation can be a very effective way not only to create new ideas but also to find solutions for existing problems though five stages that ranges from identifying the problem to implementing its solution.
Coupling Model of Innovation: Coupled innovation refers to mainly co-creation with complementary partners through alliances, cooperation, and joint ventures during which give and take are crucial for success.
Innovation Ambition Matrix: A few slides about the classic model that helps companies decide how to fund different growth initiatives. It identifies three different layers of innovation, from incremental to disruptive.
