Being Innovative in the Fast Paced Industry
In a dynamic industry where innovative ideas are valued for quick execution and first-to-market products generally fare better, problems tend to arise. Solving the source of the problems rather than symptoms creates a long-term and more sustainable solution.
Bridging the Academia-Industry Divide
Strengthening ties between universities and industry has never been more important in the current digital revolution, as both entities grapple with unprecedented challenges.
Building an Innovative Workplace Culture
Building a culture of innovation is at the top of most corporate agendas. A workplace culture that breeds and supports innovation would never settle for the status quo. Industries, who fail to innovate, run the risk of becoming irrelevant.
Effective Leadership in Innovation
Leaders within the organisation are expected to take charge of the generation, formation and implementation of ideas in order to achieve successful innovation. LeIs Iaders must learn how to create an organisational climate where others apply innovative thinking to solve problems and develop new products and services. Effective leaders should be able to help their subordinates to think differently and work in new ways to face challenges. Support systems should be in place to support those who want to be innovative as well as engendering innovations. However, how does an organisation distinguish innovation leaders from those who are not? What are the traits found in innovative leaders?
Improving Business Models
Business models form the core of a business and should be revisited regularly to reflect the current environment. Businesses that fail to adopt may rapidly lose market share but improving or changing business models can involve a large amount of resources and presentations of business cases can impede the swift integration of innovative products/processes that are often needed in competitive industries. How can organisations circumvent this?
Is Innovation Associated with High Costs?
Implementing innovation into a company has been associated with high costs. However, such an important discipline is often misunderstood. With the emergence of digital technologies and open innovation platforms, generating new ideas is the least expensive of the chain. Ideas can be tested inexpensively using rapid prototypes and straw models before they go into the expensive production and implementation cycles. Successful innovation is not money expensive but time-expensive. Therefore, this research project focuses on what are the evaluation processes and matrices involved to provide justification for an idea to escalate into implementation? How can companies effectively allocate resources to innovate? What justifications can be made to spend money on experiments that might fail?
The Innovative Blueprint: Developing a more Innovative Australia
With countries such as Switzerland, Sweden, the UK and other innovative countries at the forefront to become the world’s innovation hub, Australia step-up its efforts to create a sustainable and innovative nation that does not fall behind in the pecking order. .
Understanding the Review Process to Achieve Innovation
How can organisations facilitiate Although creativity is an important element in achieving innovation, the review process from idea generation to execution is equally important. In other words, organisations often lack innovation due to the fact that great ideas do not reach fruition or unsound ideas get put forward. Staff within the organisation often unaware with the review process thus fail to envision their ideas being implemented and deliver results. Furthermore, organisations may be rooted in their existing KPI’s hence they fail to empower grassroots staff with the tools and knowledge to innovate. How can organisations facilitate a better understanding of the innovation process within its staff?