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.