4 Crucial Areas of Integrative Innovation Management

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When new technology and rivals disrupt markets, many incumbent businesses struggle to maintain their competitiveness. Such circumstances motivate some firms to form partnerships with others.

Successful collaborations require the right people, procedures, and organizational support. This requires an Integrative approach to Innovation Management.

Various parts of the Innovation process must be integrated by means of a coherent Innovation Management Strategy that complements the separate plans of these aspects.

Integrative Innovation Management focuses on 4 essential areas in order to successfully manage Innovation within a business. The following are:

Integration of Directions of Impact
Integration of Stakeholders
Integration of Capabilities
Integration of People

Integrative Innovation Framework strives to provide a framework that facilitates addressing the comprehensive nature of Innovation.

As the number of interrelationships increases, care must be taken not to lose sight of the whole picture or place an undue emphasis on certain aspects.

Let us examine the identified areas in further depth.

Directions of Impact

It is essential for effective Innovation Management to maintain a balance between diverse objectives, strategies, and methods. Innovation Management requires a balance between strategies, objectives, and methodologies that are usually at odds with one another.

Although fundamentally diverse, these contrasting extremes are equally vital.

Integration of People

Depending on the Direction of Impact, it is essential for Innovation to have the proper blend of individuals with the necessary talents and attitudes. Diverse viewpoints and ideas are useful for discovering new opportunities that have the potential to fundamentally alter the current situations and existing Business Models.

Integration of Stakeholders

Businesses are realizing that addressing Innovation on their own is an increasingly unachievable challenge. Such circumstances motivate some firms to form partnerships, networks, and/or engage with communities and/or consumers. Such installations tend to be open configurations. Specifically, the resolution of systemic issues, such as energy, healthcare, and mobility, depends on good collaboration amongst relevant parties.

Integration of Capabilities

Capabilities must transcend functional boundaries in order to produce Integrative functional capabilities that foster innovation.

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To be competitive and sustain growth, we need to constantly develop new products, services, processes, technologies, and business models. In other words, we need to constantly innovate.

Ironically, the more we grow, the harder it becomes to innovate. Large organizations tend to be far better executors than they are innovators. To effectively manage the Innovation process, we need to master both the art and science of Innovation. Only then can we leverage Innovation as a Competitive Advantage, instead of viewing Innovation as a potential disruptive threat.

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