6 practices for innovation

To innovate regularly you should
manage 6 main practices

1. Strategy

Choosing to innovate means knowing how to project your business into the future and identify the key factors that  will give it value in 3, 5 or 10 years. The art of projection also includes knowing how to surround yourself with a good team, showing financial agility and mastering the concepts of intellectual property.

2. Generating new ideas

The development of an innovation inevitably starts when an idea emerges. But, how do you come up with an idea? Even more difficult, how do you keep coming up with ideas? Creativity techniques may be one solution, together with the monitoring and observation of your customers.

3. Design

Whether you are launching new products or a new service or designing a new organisation, between the intial idea and the implementation stages, there is always a design phase. Tranforming ideas into reality is an essential step and requires technical as well as methodological resources and sometimes IT support.

4. Project Management

Developing projects consumes resources. These include financial and technical resources, but man hours are also a major consideration. Effective project management consists in optimising these variables.

5. Human Resource Management

Encouraging risk-taking, developing internal skills and managing change are all necessary factors in developing an innovation culture.

6. Knowledge Management

Often overlooked, Knowledge Management is key to developing an effective innovation mindset. By definition, innovation consists in doing something which you did not previously know how to do. Innovation and learning are therefore intimately linked.

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