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How To Increase Innovation In The Workplace
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Lack of innovation in larger corporations
- As companies start to grow, they often experience a downturn in innovation as management layers increase.
- Many larger corporations are now attempting to harvest the success of startups by creating small internal companies.
- A study reveals the main obstacles to improved business responsiveness are slow decision-making, conflicting departmental goals and priorities, risk-averse cultures and silo-based information.
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3 performance management must haves
- Risk-taking. Create a culture in which risk-taking is encouraged. Fear of failure is one of the most common inhibitors of innovation.
- Increase learning agility. People with a high learning agility are able to take feedback and adjust strategies accordingly, without becoming discouraged.
- Creating cross-functional teams. Organise teams with different skill sets together on an ad hoc basis to tackle particular projects. It creates a smaller pool of decision-makers and allows the team to benefit from cross-departmental knowledge.
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Allowing Ideas To Safely Flourish
Take a moment to consider if your employees and team members are coming to you with new ideas and innovations.
To create a sense of security where employees will feel safe to share their i...
Increased Diversity
Companies with increased growth are 72% more likely to have high diversity in their organization.
Use Learning & Development (L&D) training to raise awareness about the current state of diversity and inclusion in your work environment.
Agility Breeds Sustainability
Up to 70% of trainees forget what they learn within 24 hours after training. However, it does not have to be the case for your employees.
An effective leader will implement and integrate an agile training infrastructure into their daily operations that can change quickly to keep up with the pace of innovation.
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Organizational Health
According to a decade long research, the health of an organization is based on alignment with a robust strategy, deep-rooted culture, and a clarity of vision.
The health of an organization ca...
Better Health = Better Performance
Extensive Data studies have found a link between the health of an organization and its performance.
Robust health is crucial to an organization's long term success.
The Four Organizational Recipes
Companies aligned with one of these four organizational recipes are more likely to be healthy and to deliver strong, sustained performance than those following random management styles:
- Leader Driven
- Market Focused
- Execution Expertise
- Talent and Knowledge-based
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Hackathon
... is a term used in reference to innovation jams and describes an event that pools eager entrepreneurs and software developers into a confined space for a day or two and challenges them to inn...
A Good 24-hour Hackathon
- Centers on the customer process or journey and supports a clear business target.
- Involves employees from all relevant areas to find different ways of working a problem.
- Challenge participants to reimagine an existing method to try to find the most efficient way to improve the customer experience.
- Sessions start with ideas but end with a working prototype.
- Output includes a clear development path that highlights all the steps needed to accelerate production and implementation.
- The hackathon concludes with a presentation to senior leaders, including a real-life demonstration of the new prototype and a roadmap of IT and other capabilities needed to bring the final version to market.
- Once the teams agree on what to do, those responsible for execution create a virtual model that the group vets, refines and re-releases in continual cycles until the new process or app meets the desired experience criteria.
- Management prevents the dissipation of enthusiasm and energy created on the hackathon by placing new processes to sustain it.