Success with innovation efforts isn’t easy. It’s one thing to win on an innovation project but another to do it multiple times. To do that, you have to build and manage an ecosystem for innovation to prosper.
How do you know if your innovation efforts are successful? What are some of the metrics organizations should track to ensure innovation objectives are achieved? What kind of organizational structure is needed to govern the innovation practice across the enterprise? Should you appoint full-time innovation leaders? How many of a company’s innovation challenges can be solved using external talent? What financial methods are suitable to assess the investment risk when there are many assumptions involved about customers, technology and competitors? These are some of the questions people ask when they start to scale their innovation.
We guide you through developing the necessary elements to create a scalable and sustainable innovation ecosystem. Some of the key elements of an ecosystem are governance and oversight, growth and innovation strategy, data analytics, management of human capital, program and project management, financial management, and other enabling support systems.
If the Innovation Life Cycle is the engine of a car, then the infrastructure is the chassis—it’s what holds it all together. That infrastructure should be built based on what’s inside and designed differently for one organization versus another. We look at an organization’s needs, such as its growth rate expectations, as well as its appetite for risk, severity of industry rivalry or competition, and other changes in the market to help design and develop an ecosystem that makes innovation stick.
Governance & Oversight
A leadership and governance system is required to manage the innovation ecosystem. We meet with leadership teams to assess their aspirations, strategies, challenges and realities of the market. From here, we look at the culture and DNA of the organization, along with best practices in the market, to propose several options for the design of an innovation council or growth council that will direct, guide and manage the ecosystem. We also work with organizations to design the metrics needed for driving innovation across the business.
Program & Project Management
Program and project managers are stewards of the innovation ecosystem, leading overall innovation efforts and individual projects, respectively. We enable project and program managers with the tools, methods and processes to make innovation efforts successful, ensuring innovations are in the pipeline and are managed using best practices. We also provide coaching on teamwork and collaboration.
Enabling Support Systems
Enabling support systems include communication, finance, human resources, training, IT and data analytics. Each of these systems can be designed and implemented based on an organization’s need and its environment. During a facilitated innovation initialization, we assemble a steering committee and sub-steering committee for each of the areas, leading to the overall design of the enabling systems. We also assess the maturity of an organization’s innovation capability in order to create a long-term plan.
- Innovation Maturity/Capability Assessment
- Infrastructure Design
- Leading Innovation Executive Workshop
- Innovation Master Certification
- Executive Coaching
- Program Management
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"We wanted a knowledge partner to help us build our innovation programmes at Reliance. We considered global universities, consultancies and other knowledge service providers and we picked Lean Methods Group because of their holistic approach to innovation. They have the people, processes and methods to help Reliance continue to grow as one of the most innovative companies in the world.”
Dr. Makarand Phadke, Senior Vice President, Innovation, Reliance Industries Ltd.