Top Reasons Why Innovation Fails – Part 1

Why do innovation initiatives fail? This Fast Company article introduces six reasons your organization may be experiencing setbacks.

In this blog post, I’ll dive in to reason #1: Not having a formal innovation management framework and systems.

What is an innovation framework?

Your employees need a clear set of steps to follow so they know their ideas are being heard and considered. The following is an example of a typical innovation framework:

1. Generate ideas: Get your employees’ minds moving! See this article for some effective options.
2. Review: Does the idea align with your organization’s goals? Is it financially feasible? Have a clear method for idea evaluation.
3. Implement: Put the idea to work!
4. Recognize Submissions: Don’t stop after ideas get moving; ensure that you follow up on their progress. Make improvements as necessary and find ways to grow ideas that work.

In addition, you can implement your innovation framework more efficiently with formal innovation software.

What is formal innovation software?

Formal innovation software is a means of sharing ideas through an online system which can be used by all idea generators and managers.

Not only is innovation software more efficient at establishing a framework, but it also offers additional resources for organizing and implementing ideas. Some common features of innovation software include:

• Outlining the topics that you want employees to focus on improving
• A customizable website for idea submission
• Social media-esque collaboration that allows employees to view and comment on all ideas presented
• Workflow processes to ensure that all ideas are efficiently reviewed and evaluated

Why is a framework important?

An innovation system framework encourages all employees to participate in the idea generation process. Plus, you can increase efficiency by defining exactly which issues would most benefit from the innovation process.

When you find solutions that work, innovation management systems make it easier to share best practices. This feature is especially helpful for larger organizations.

Suggested Next Steps:

• Companies of all sizes (from Fortune-500s to growing startups) use IdeaGlow software to build their own innovation management framework. IdeaGlow is affordably priced & relatively easy to implement. If you’re interested, you can apply for a FREE 30-day trial of IdeaGlow software.
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