Every innovation must be managed through several phases before it is commercially viable. Through InMyShoe's assessments, all innovations begin with the generation of ideas and the road to implementation and commercial success can be a long and difficult one.
The Innovation Pentathlon Framework shows the development funnel that consists of idea generation, prioritization and finally implementation. The development funnel does not say anything about the internal strategy and the organizational culture, therefore one extra element has been added at the top and one at the bottom of the model to addresses this.
In order to be able to manage innovation from the top and lead digital transformation, top management must understand market trends and why these are important drivers for innovation as well as to build innovation culture. You can bear extra risk when you understands the technology and can predict performance through management models with a measurable follow-up strategy.
It is important that the management establishes an environment that supports the creativity of the employees. After the idea generation in the development funnel, is the phase where ideas are to be prioritized, selected, and finally implemented. It is important with leadership and delegation to improve the way the organization develops new products, new services, processes and business models.
The Cultural web says something about how well the existing culture supports innovation. In addition, what changes are needed to achieve the culture you want that supports innovation more effectively, The really good innovation leaders are able to focus on both top-down and bottom-up innovation.This is achieved through idea-based, employee-initiated and entrepreneur-driven innovation supported by the management. Then the leader sets ambitious goals for innovation, builds an innovation culture and lays down the right mechanisms for decision making and investing in new ideas.