Actioning innovation strategies is often a stumbling block for many organisations, even though it is vital in our fast-paced world. Several, or all of these reasons, can be at the root of this problem.
Firstly, many businesses struggle to identify their key issues. Instead, they implement ad hoc technological change which fails to address their pain points.
Secondly, many companies do not know where to find suitable innovators and technologies, since so many options are available. Consequently, they experience innovation analysis paralysis and avoid change.
This is regrettable, because according to a study, when an organization makes decisions quickly, they are twice as likely to make high-quality decisions. They just need to be empowered by useful, appropriate information.
Finally, companies may set out on their route towards innovation in an unsustainable way. In our quick changing business environment, innovation can’t be considered a one-shot effort. Ultimately, companies need to become self-learning organisations to future proof their business. This involves ongoing proactive problem-solving, collaboration, and expert direction.
Augmenting the Traditional Tech Silo
Self-learning organisations create, acquire, and transfer knowledge quickly and adapt to whatever insights and knowledge they acquire. However, no company can easily create a learning organisation independently.
Certainly, some insights and creative ideas will come from within the company’s own walls. Nevertheless, technology and markets change quickly, so business must also look beyond their own resources. This multiplies the possibilities and can create a valuable innovation pipeline to continually solve business and technical challenges quickly.
Innovation Isn’t Limited to Enterprise Business
Many companies mistakenly believe that an innovation pipeline is beyond their reach. However, an open innovation ecosystem levels the playing field.
Businesses of all size can access the platform, including startups, scale ups, and mature organizations. Solutions aren’t limited by industry or commercial challenge either. Any company can drive innovation and gain a competitive edge.
Systematically Solve Problems
As mentioned, many companies are overwhelmed by the sheer volume of tech possibilities. Some may have ideas they want to validate, while others may not know where to start at all.
Fortunately, companies can buy innovations. They also generate hypotheses, with each innovative idea analysed and global solutions curated. Decisions are based on data and business outcomes, not assumptions. This ensures actioning innovation strategies delivers positive results.
Access New Knowledge
Often times, companies want to expand their horizons and increase their opportunities. This may involve experimentation and a broader skillset than what a business can manage.
Fortunately, tapping into an open innovation ecosystem makes actioning innovation strategies to aid them in this goal very attainable. Global innovators and partnerships often allow companies to take on challenges they could never consider independently.
Powerful insights from others may also provide new perspectives and increase knowledge to accelerate business goals. Essentially, companies can move beyond their locally-held knowledge towards broader, more diverse possibilities. This includes accessing a global talent pool of highly-skilled innovators.
Actioning Innovation Strategies Through Collaboration
Understandably, companies can lack direction or face choice overload when it comes to innovation. However, business can overcome these obstacles when they collaborate with an experienced, knowledgeable partner.
By tapping into expertise, they can easily curate ideas and identify suitable technologies. Since an open innovation ecosystem holds many solutions from startups and scaleups, some may already offer solutions to business challenges. There’s no need to start from the ground up.
Consequently, actioning innovation strategies using an open innovation ecosystem can speed innovation and conserve valuable resources.
Fortunately, EarlyBirds can help you create an actionable innovation strategy. We offer expertise, Subject Matter Experts, and an expansive marketplace of new and disruptive technologies. We also offer unique programs for ad hoc or supplementary needs, as well as ongoing transformational support.
EarlyBirds Innovation Ecosystem
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal connecting Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
The Ecosystem has a data pool of over 4 million global innovations that may already address your organization’s challenges. Alternatively, organisations can list their challenges and request solutions from innovators.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet your organisational, technical, and risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who identifies your key issues. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
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EarlyBirds makes actioning innovation strategies simpler and more effective. If your organisation needs to plot a path towards innovation, we can help you find direction and accelerate your innovation, internally or through external collaboration.
Let us help you find innovative solutions and appropriate disruptive technology. Our expertise extends to many sectors including Operations & Maintenance, Energy, Education, the Public Sector, and more.
If you’re interested in partnering for success, please register at https://earlybirds.io/, or contact us to discuss your needs.