Paradox In Innovation

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EXERCISE
Question: Part A
A paradox in innovation is that sometimes “smart” firms-especially those which have been successful innovators in the past, find themselves in difficulties under discontinuous conditions. Why does this happen and what might they do to avoid it?
Answer: Part A
The firms those which have been successful innovators in the past, find themselves in difficulties under discontinuous conditions because of the following reasons:-
1. The product/process/service which may have been innovative in the past, may not be innovative in the present/future as it may have reached its maturity/decline phase.
2. The product/process/service may not be adaptable to the future changes. If you always do what you have always done you will always
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Inclusion of outside Start-Ups, inorder to leverage from their Innovation skills etc can help Organization Workflows and Product Development to attain its own Innovation Strategy.
26. Recognize the teams involved during Innovation & reward them accordingly.
27. Create the short term wins & encourage determination, persistence.
28. Highlight the achieved & future milestones during Innovation.
29. Remove Inadequate Problem awareness
30. Remove Inadequate analysis of strategic & operative challenges
31. Speed & workload during Innovation process should be balanced.
32. The firm should adapt quickly to the pace of change.

Innovation initiatives frequently fail & successful innovators had hard time maintaining their performance. The commonly cited cause for this is a failure to execute. The issue with innovation improvement effort is lack of proper Innovation Strategy. Have transparency and learn from the failures.
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Question: Part B
Think about your company…What disruptive innovation / technologies will affect your organization?

What preparations needed to meet this challenge?

Answer: Part B
The disruptive innovation / technologies that will affect my organization are as
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Preparing for the Innovation i.e. Assessment, Preparation & Strategy Development.
2. Managing Innovation i.e. Detailed Panning & Innovation implementation
3. Re-enforcing Innovation i.e. Data gathering, Recognition & corrective action
Mobilization Moving Stabilizing
Creating sense of urgency Form Coalitions Develop Vision & Strategies Communicate
Vision
Implement
Vision
Realize
Quick
Wins Consolidate
Results Embrace
Success in
Company’s
Culture

How to Facilitate & Enable the Innovation from Managers, perspective?
1. Why we have to innovate? i.e. The objective of Innovation
2. What we want to innovate & the innovation initiative?
3. What we want to see as the successful outcome? i.e. The Final Destination of Innovation
4. Where we are today? i.e. From the Perspective of Innovation
5. How Innovation impacts the organization? i.e. The Macro Level
6. How Innovation impacts People? i.e. The Micro Level
7. What shall be the barrier?
8. What shall be the Plan for Innovation?
9. What shall be the Milestone & Map of Innovation?
10. What shall be the enabler for milestone?
11. How shall be the people & structure aligned for innovation?
12. Is the Business ready for Innovation?
13. It should make the customer a critical starting point for idea generation/innovation

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