We manage your
Building the innovation funnel involves developing innovation processes.
New ideas create new business opportunities which then, if exploited, lead to growth. This is called managing innovation idea portfolio or innovation funnel.
Leaders agree that innovation is and will be one of the top drivers of growth. In today’s business environment it is extremely important to be able to generate innovative ideas. However, it is not enough to have ideas. Ideas need to be developed into concrete products, services, technologies, or improvements. Ideas to be developed need to be shared, evaluated and deployed.
What is a successful
A successful innovation funnel embrace:
• an innovation process that motivates for idea blooming
• a process that drives idea sharing
• transparency on how ideas are evaluated and prioritized and finally
• concrete steps for idea development.
• Having a good process to manage these ideas and
• Creating environment to ensure generation of ideas
Good and transparent innovation process increases trust with employees.
They understand how ideas are collected and how they are evaluated so it is easier for them to report ideas and to accept the evaluations.
The trust is even more enhanced, and employees are more motivated to engage when employees see actions matter. The innovation process needs to involve all management levels in accordance with their roles in order to create deep bond of believably that motivates employees to engage actively and constructively.
Building a successful innovation funnel in your company consists of two pillars:
– Having a good process to manage these ideas &
– Creating environment to ensure generation of ideas
Process of managing
The process to manage innovation ideas consists of idea discovery where we generate list of ideas, problems and technologies that we deem interesting exploring. We evaluate these ideas, try to prioritize them on different criteria. Ideas that we think are worth developing further will go into incubation phase. In this phase we will try to fine-tune the original idea into a valuable business project. And lastly, we will work with the idea and its development into a concrete product, service or solution.
Employees in the process of innovation
For the successful innovation process, corporate culture needs to be taken into account. The most valuable process is the one where ideas are openly shared and transparently evaluated and developed.
Creating environment where everyone feels heard and motivated to share their thoughts and ideas is the most fruitful innovation process. In this environment employees do not hide their ideas thinking that they are not good enough, employees are not afraid of feedback, but are openly speaking and are eager to hear their colleagues’ inputs in order to create valuable innovative ideas.
Need help to innovate successfully?
We work with you to help you build environment that encourages innovation.
Feel free to make a contact with us in order to discuss your innovation challenges and how to approach them.
Transformation of the company in the process
We help you create the innovation funnel that will enable you to collect ideas from within the organization’s ecosystem and accelerate commercialization of valuable concepts.