Innovation or open innovation is the new buzzword around the world for discussing ideas and solutions for an action or task, it can further be defined as partnering with companies and knowledge trading. Open innovation is an attempt to bring in ideas of innovation into the company be it from external or internal sources of idea generation.
It is important for companies to develop a culture of innovation because it provides a great potential to upgrade quality and productivity, reduces investment in research and development, saves a lot of time in product development with instant customer feedback and reach out to a bigger sized audience, better accuracy and produce pertinent results based on time and requirement.
To create an Innovation culture within the organization we need the right people who can make a difference in the organization bringing their rich experience with regard to product and customer requirement and observation, appropriate rewards for the best solution encourages people to come up with solutions and create more interest in finding solutions, common mode of communication and a strong leadership with an attitude to change things, a vision to mark higher goals for the team to achieve and appropriate to manage any kind of situations. It is important for companies to follow these steps to shape their Innovation Environment.
1. Ask questions, identify hurdles which would prevent you or cause imbalance in the production cycle
2. Interaction with people from different verticals of the industry to discover new ideas and methods of problem solving
3. Consistently experimenting with current scenario to solve complex challenges for a better solution
4. Co-create solutions for complex challenges using concepts and resources from external communities for quicker and better product with greater scope and accuracy
5. Substantial investment towards Innovation training and research on ideas.
6. Actively participate in workshops along with other companies to complement one another.
We want companies to have free hands to touch new heights in Innovation research and development they should redefine the lifestyle of people for a better living. To make it easier for companies to collaborate many of them have started setting up innovation platforms within the organization and there are a few external platforms flexible enough for companies to adopt for use in their company. These platforms not only provide options for innovation but also bring to gather a huge community of people from all verticals of industry hence creating a good innovation culture.