Closely linked to the business environment and to everyday life itself, innovation is a concept that modifies existing elements, ideas or protocols, and how does it do so? by improving these factors or creating new ones, with the objective of positively impacting its target.
Innovation practices must have a clear objective, from there two types of innovation are derived: sustainable innovation that refers to the processes of improvement of the existing and disruptive innovation that changes existing paradigms in the market, for the latter, the recommendation is to review market trends and lean towards an innovation model that goes in this line.
Some of the consumer trends at present are:
- Having substitute products.
- Climate change agents/Sustainable energies
- Financial enthusiasts
- Metaverse movement
- Used shopping
- Personal care enthusiasts
But how to innovate in organizational processes? Each person that comprises the organizational chart of the company must be in favor of the innovation pillars of the company, it is not an aspect that can be limited to only one area. Understanding this, there are 4 fundamental focuses for the achievement of these processes:
- People: They are the fundamental axis in any innovation process.
- Processes: That can be created or adopted as a consequence of the implemented methodology, methodologies such as Design thinking and Creative Problem Solving.
- The product: The manifestation of the findings of the process.
- The purpose: Answers the question: How am I going to generate value and what am I doing my innovation process for?
Let’s see it with an example, the Double V Partners team implements its innovation methodology in two phases: Problem solving phase and execution and solution phase, through the Design thinking model, where the solution is empathized, defined and devised; followed by the Lean Startup method where the first prototype is experimented with, learning from the findings obtained, iterating as many times as necessary and measuring the results; and finally with Agile a new stage arises where the sprint is planned, executed, the product shipment is increased, the sprint is reviewed and the product backlog is updated as the project progresses.
Finally, we remind you that innovation is not magic, but it has a very similar effect.
Have you already experienced innovation processes in your company or do you see the need to implement them?