What Is Innovation Alignment?
Companies of all sizes and in every industry sector have challenges when it comes to innovation.
· Startup companies may have a great idea, but convincing others to invest in that idea is another story.
· Small businesses may have brought an idea to market, but find they now lack that entrepreneurial spirit.
· Middle market companies can be so focused on daily operations and financials they can’t break away from “the way it’s always been done”.
· Large corporations can be so compartmentalized and focused on personal job protection that open and honest collaboration and teamwork are innovation barriers that simply can’t be overcome.
For many, a clear and concise definition of the word “innovation” doesn’t exist among their management team. Some believe innovation is all about creativity or idea generation. Others believe it’s about design and development of a new product, or commercializing that product to generate sales revenues. It’s imperative the leadership team define innovation. Once a definition is finally agreed upon, it’s important to know exactly how much improving their ability to innovate is actually worth annually. The price tag of aligning a company around innovation can then be compared to the benefit to estimate the return on investment.
The Meaning of Innovation
Innovation Alignment is the process by which key business components are defined and coordinated with each other to generate an increased ability to innovate. For example, if a company lacks the right personnel to help them on their innovation journey, then an examination of their recruiting process would be a good place to start. Recruiting is one of the key business components to achieve Innovation Alignment. Here are some real examples of what a company may be facing when their recruiting function is not aligned:
· Their company profile on social media doesn’t mention any focus on innovation goals or their desired innovative culture.
· Their job postings don’t mention the word “innovation” or their need for innovative talent.
· Their internal &/or external recruiters aren’t asking questions about a candidate’s innovation history, training or capabilities.
· Reference and background checks conducted for each candidate don’t ask any questions or gather examples regarding a candidate’s innovation background or accomplishments.
· Any Critical Behavior Interviewing (CBI) tools being used to screen candidates don’t mention innovation or ask for examples where an innovative approach was identified or used.
· Onboarding materials don’t appropriately establish the new hire’s expectations regarding their innovation role and responsibilities, nor the company’s related goals and vision.
Components of Innovation Alignment
Recruiting is just one of the 12 components typically explored during an Innovation Alignment exercise. The other components include; strengths and objectives, processes, culture, organization structure, support, equipment and tools, training, performance, skill management, job descriptions, and reward and recognition. Not all of these components will apply to every company, of course. For those components that do apply, some will already be aligned around innovation, while others will need some attention. Details for each of these business components can be found in the book, Align or Resign, published by Sea Hill Press of Santa Barbara, California in 2010.
Cross Departmental Collaboration Is Key
One major challenge encountered by many companies is having different individuals assigned to each of the alignment components above. They believe they’re individually doing a great job working within their assigned area of responsibility, but collectively, they’re not collaborating or aligning their work around an intended business outcome, namely “innovation” in this case.
Many professionals in the management consulting industry may recognize the 12 business components above as an extension of the traditional strategy-process-people-technology model. In this model, strategy will determine the required supporting processes, which will then identify the required people, and finally, the enabling technology to help make it all happen. The Innovation Alignment approach takes this traditional model and expands it to include the remaining components that are frequently overlooked.
Bringing It All Together
In summary, Innovation Alignment typically begins with an agreed upon definition of what “innovation” means to a company. This is followed by an estimation of what an improved ability to innovate is actually worth on an annual basis. The related assumptions will help identify metrics that can form a baseline and then be tracked and corrected to ensure ongoing innovation success. The Innovation Alignment process then continues with an assessment of the company’s history of innovation, their goals and objectives and known barriers to innovation. Once that information is assimilated, focus can then made on the 12 alignment components to identify what’s going well, and what needs attention. For those components requiring attention, a prioritized and phased plan can then be developed to help that company achieve its innovation goals. That plan can then be implemented, with any required ongoing innovation services performed on a scheduled basis afterward.
Innovation Alignment will help your business improve its ability to innovate and maintain that ability to ensure a very positive and compelling return on investment is quickly realized.
About Inovayshin
Companies of all sizes and industries have challenges when it comes to innovation. In response, we’ve created an innovation services firm that applies proven Innovation AlignmentTM and other methods to help those companies improve their innovation ability and sustain that ability over time. Inovayshin guarantees success by focusing on specific performance data that reflect ongoing accomplishments and a compelling return on investment for our clients. To learn more, visit us at inovayshin.com. Entrepreneurs, be sure to check out our “Be Inspired” page for ideas that could trigger your next venture.