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Six Ways to Make Innovation A Reality

Six Ways to Make Innovation A Reality

Jan 10 2014, 4:12pm CST | by

There is a fundamentally new class of individuals entering and circulating in the job market. They tend to be adaptable and mobile, East-Coast-educated but West Coast-bound, willing to take risks,...

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28 weeks ago

Six Ways to Make Innovation A Reality

Jan 10 2014, 4:12pm CST | by

There is a fundamentally new class of individuals entering and circulating in the job market. They tend to be adaptable and mobile, East-Coast-educated but West Coast-bound, willing to take risks, technically sophisticated, and social adept. They also are more interested in learning than in their salary. Most importantly, however, they don’t want to work in the traditional workplace environment.

In the Deloitte’s Work Environment Redesign report, John Hagel and John Seely Brown show that there has been a massive innovation shift in the world—a shift built on some of the structures led by these individuals. In the 20th century, we viewed institutions as the force that shaped individuals—that created people who were comfortable working in factories and standardized bureaucracies. In the 21st century, on the other hand, individuals are reshaping institutions , using their agile minds and bringing their powerful networks of resources with them.

Here are six ways to make innovation a reality in our increasingly interconnected world.

1) Become a platform for connections and networks. Leaders  of your company must recognize the importance of connections inside and outside of the company in driving greater performance and in supporting trust, collaboration, and exchange of creative ideas between employees. To be innovative, your company must be at the crossroads of a wide range of diverse networks.

2) Invest in potential, not just expertise of individuals. An individual with expertise is one who has done work before of great value and who is likely to do great work again, while an individual with potential is given opportunities to take on roles she hasn’t done before because she has demonstrated the skills that make it likely for her to succeed. To make the most use of the individuals dominating the current job market and unlock their full capabilities as innovators, you must place value on both potential and expertise in your employees.

3) Make “exception handling” a priority in recruiting. When we hire, we often choose those with process skills, but what companies really need are adept employees who are prepared to handle risks and change. In the end, it will be the “exceptions”—the risk  takers and the unconventional thinkers—who will step up as leaders and push forward innovation in your company.

4) Shift your notion of intellectual property. Intellectual property is any work or invention to which one has exclusive rights. While there is intellectual property where exclusive rights really matter, much of it is obsolete. Instead, companies can benefit from being more selective in which of their ideas they choose to protect as intellectual property. Innovation is often the result of the exchange of ideas, and intellectual property rights can sometimes hinder such an exchange—in turn preventing important discussion, collaboration, and further creativity. To enhance the innovative drive of your employees, you may want to reassess the value placed on intellectual property within your company.

5) Start with the experimental side of your business . Risk-taking is key to innovation. However, when taking new risks, make sure not to play with the core of your business. Instead, begin at the edge of your business as you allow more experimentation within your company.  Only once you have noticed productive results can you more fully incorporate experimentation in your company culture.

6) Turn your Employee Resource Groups into Business Innovation Groups. Your employee resource groups may have unique insight to offer on new products and services that could better serve previously untapped markets and communities.  Allow them to share this insight with your company as business innovation groups instead. The more voices heard in company discussion, the more likely innovation is to follow.

The job market is changing, your employees are changing, and ultimately the workplace is changing.  In the wave of change, there is increasing room for new talent and creativity—and now is your chance to make innovation a reality.

Erica Dhawan  is the Founder & CEO of Cotential , a global innovation firm that helps organizations unleash the connected potential of people everywhere to solve their most pressing challenges. Follow @cotential and @edhawan for more innovation updates.

Source: Forbes Business

 
Update
10

6 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

Cambodia's Famous Battambang Circus
KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakya ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

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KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was b ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

Federal Aviation Administration Bans All US Flights To Israel
KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was reje ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri H ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

INDIA-CHINA-DIPLOMACY-TRADE
PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Sela ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

Government Weekly Cabinet Meeting
KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
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4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

Iskandar Johor Open - Previews
JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allo ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

EurAsia Cup presented by DRB-HICOM - Day One
PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Baza ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyw ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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