Finding an innovation strategy can be one of the most difficult decisions as there are so many options to choose from. While there is not a defined process for implementing or developing an innovation process that works for your unique situation there are a few things that you can keep in mind to make it easier.

1. FINDING AN INNOVATION
STRATEGY THAT WORKS
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Finding an innovation strategy can be one of the most difficult decisions
as there are so many options to choose from.
While there is not a defined process for implementing or developing an
innovation process that works for your unique situation there are a few
things that you can keep in mind to make it easier.
There are three main areas that you can focus on to spur on your
innovation process – hiring and developing innovative staff, developing
an internal innovation protocol, and working with strategic alliances.
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HUMAN RESOURCES: HIRING AND DEVELOPING
By far the most effective way to ensure that you have innovation
throughout the life of your company is to create a process that allows
you to hire and develop creative and talented people.
Keeping your innovation in-house allows you to gain competitive
advantages over co-creation and open innovation, and it can also give
you more control over the timeline for innovation.
The more staff members from different departments and seniorities
that you can include in the innovation process, the more access to
creativity that you can tap into.
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DEVELOPING INTERNAL INNOVATION
PROTOCOL: PROBLEM SOLVER
While it is most effective to develop staff members that have the
innovation mindset, you can also develop a process that can be
successfully applied with almost any group of people.
Developing an internal innovation protocol will help to innovate on
problems that arise and can be a great tool in your arsenal.
For best results you shouldn’t rely on this innovation protocol as your
company’s only source of innovation, but it can be a cost effective
strategy to get the ball rolling and a great tool to have available
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STRATEGIC ALLIANCES: WORKING TOGETHER
Forming strategic alliances allows you to leverage the creativity and
innovate with people outside of your company.
The major benefit is that you gain access to a number of people’s ideas
and input without taking them onto the payroll.
The drawback is that the competitive advantage and secrecy of your
innovation is almost impossible to guarantee.
With that being said there are several companies that are embracing
co-creation with fantastic results and depending on your situation you
may want to include this in your innovation strategy.
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There are plenty of combinations and other
variations to consider in your innovation
strategy, but any combination of these three
will cover the majority of the successful
strategies.
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7. GROWING BUSINESS WITH INNOVATION
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please visit www.InnovationGrow.com