Unleashing the power of innovation isn't exclusive to the tech-savvy or the creative geniuses. It's a universal responsibility, a collective endeavor. Embrace the notion that innovation is everyone's business, and discover how this mindset can transform industries and societies.
Processes needed to build an Innovation Engine
Creation: Generating the ideas needed for innovation to take place
- Integration: Changing mindsets and implementing innovations across an organization
- Reframing: Changing tactics and thinking about innovation
- Closing the gap to clients: Reducing the distance between potential innovators and customers
- Democratization of idea creation: Launching Total Productive Maintenance (TPM) to allow people to innovate without fear of failure
The three key processes that are necessary to develop an innovation engine into your organization:
Creation
Capmax developed a new type of tyre cord fabric
Branded Capmax, it removed the need for several time-consuming and costly stages in the tyre manufacturing process
- These new products didn’t just help Capmax become recognized as an innovator within the tyre industry, they also opened up completely new markets such as aerospace and electronics, where they could license their innovative composite materials.
Motivating creativity
Motivating employees to create the ideas was achieved through the thoughtful design of a stage-gate process that innovation ideas go through
- To protect innovators from the stigma of failure, and to avoid prematurely killing ideas with potential, the process incorporated ‘positive discrimination.’
- This meant ideas were not bound to the normal commercial pressures and profit requirements for the first five years.
