what is it, what are the benefits and how to apply in the company – WAU

Innovation management helps to structure a company so that it is a true storehouse of ideas. New processes and outstanding products can be created, but for this, the company must prepare its culture and structure.

Innovation management is a practice aimed at stimulating and implementing a perspective to encourage the development of new ideas in a company.

For innovation to be a reality, with good proposals, it is necessary to structure the process, ensuring that employees can work in this direction. This is precisely why management practices are needed.

When a company is able to have effective innovation management, the whole structure of it undergoes sensitive changes, once the openness to innovative proposals becomes real.

In order to maintain this culture and deal with the results of this opening, it is important to have good practices in managing the flow of ideas and taking advantage of new perceptions.

In this content, you will better understand how innovation management works in a business and what benefits it can bring. Also learn how to apply this process in your company!

How does innovation management work and what is your role in a company?

Innovation management has clear obligations in the company: to support the process of developing ideas within an innovation context. This workflow consists of a few steps and, in each of them, the organization must provide the support that the employee involved needs.

A new proposal, be it a working method or a tool, appears after the detection of a novelty or before a perception through research.

That’s how an idea starts, but in order for it to become something useful for the company, there are other steps that need to be taken. From that, innovation management becomes indispensable.

In this way, the employee has the company’s help in the development, obtaining the necessary resources and incentives to put his proposal to work.

After that, in a step that will certainly last a longer time, the result needs to be applied. This end is also an important point in which management needs to give all the help to make it happen, after all, the new proposal will be applied directly in the company.

In order for the fruit of this innovation work to become useful, the company itself also supports the employee at the time of completion of the work and in the implementation of daily work.

The organizational culture

Every company has an organizational culture that influences work processes, the organization of teams, the performance of managers and even the behavior of employees.

In order to innovate, the environment must be favorable – in this case, one that guarantees creative freedom and, above all, encourages employees to propose innovation.

In this scenario, innovation management has a fundamental role in structuring how this opening will be concrete and not just an idea.

More than simply authorizing the development of proposals to be applied in the organization, it is important to offer the incentive through resources, bonuses, diversity and even with career plans.

A company inclined to give more space for its employees to be creators needs structural changes. From managers to employees, everyone needs to have their creativity stimulated, so they will be able to do much more than just what competes with their positions in the company.

What are the advantages of innovation management?

An innovation management with good practices and with well-structured processes is capable of bringing significant gains.

Everyone wins, from the employee, who manages to develop daily, to the company, which is always on the verge of leaving ahead of market competitors. Check below what are the main benefits of keeping this management job well structured!

Stimulates creativity

When the organizational culture is open to proposals for innovation, the tendency is for the work environment to be less rigid and more flexible. This does not mean a lack of commitment, but creative freedom to apply the obligations to the company.

In a place with less pressure, but with the same responsibilities, the tendency is for everyone to have the focus and tranquility to think in unorthodox ways. And that’s where innovation comes from.

In a more peaceful environment, and with a supportive culture, managers and employees can think of innovative processes, solutions, services and products.

Improves company competitiveness

Today, innovation is an essential factor for any company that is in dispute in the market. Whether in products or services, there is an increasing search to bring something new to the public.

Much of this search and possibility is linked to technology and what it provides. When a company has efficient innovation management, it is always ready to take the lead. Any type of new proposal is capable of generating greater competitiveness – just imagine situations.

An innovative process, for example, can improve internal productivity and reduce errors. A new product can gain sales and help generate buzz in front of the public. In both situations, the result puts it in a stronger position of dispute, ready to be the market leader.

Increases productivity

To achieve good results, the work needs to be constant and tireless. If employees know that their ideas will be of value and this can benefit themselves, the natural way is for it to generate greater motivation.

In itself, this also influences the increase in productivity in the work environment, ensuring that more is done at the same pace of action as always.

What innovation management also provides is, precisely, being able to apply the results of studies and development in the company itself. When the ideas are of systems, tools and internal processes, automatically, this means greater agility and productivity.

A company can only gain when it is able to structure a new organizational culture and support for innovation.

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How to apply innovation management in a company?

The work of managing innovation processes and adapting the organization to this new reality needs to be applied in a structured way. This ensures that everything will work properly and, above all, bring the expected results.

See below how to ensure that innovation management works in the company!

See innovation as a strategic element

From the first moment that the word innovation is mentioned in the company, it is essential to see the new reality as a strategic step for it. There are many factors involved, either in the process of developing ideas, or in their completion and application.

The point is, in all these moments, the company that wins the most is the company. The employee takes the merits, gains better opportunities, bonuses and can even achieve a prominent position in the competition, however, the organization reaps the rewards.

As you have already seen, both in process innovation and in the development of a new product, the enterprise gains in productivity, sales and market competitiveness.

Develop a favorable environment for innovation

For the employee to be ready to think about a new solution, it is important that the context in which he is inserted is favorable to this. The organizational climate makes a big difference to productivity and, especially, to creative freedom.

For this, no matter how important daily demands are, the strategic focus on tasks helps to make this work environment less stressful and more focused on results.

The employee also needs to be stimulated and, for this, needs more flexibility on issues such as:

  • dress code;
  • office hour;
  • goals;
  • operational tasks.

Align employee expectations

A company that wants to have efficient innovation management needs to understand what its employees need to bring new ideas.

They are the carriers of creativity and know as much about their audience’s needs as they do about internal needs. Therefore, it is essential to align the work with the expectations of the employees.

This management must have well-structured processes, tools that help the work of developing ideas, and a series of other measures.

For this, from the moment of implementation of management to everyday life, it is important to keep senior management and managers open to understanding what employees need to have creative freedom and productivity.

Structure the innovation process

From the emergence of a new idea to its application, there are several moments that need to be defined as a standard process.

When this flow is designed, there is an efficient structuring that allows innovation to be not only the result of moments of creativity, but ideas that are really thought with a purpose of solution.

For this reason, the company must think about a flow of funding for the proposal, support for development, adjustments and whatever else is necessary in this part of the process and, finally, the finalization of the product, regardless of what it is.

Thus, in the last stage, the innovative idea will be ready to be applied, either in the market or internally.

Whoever occupies leadership positions in the company has an important role in spreading this concept of innovation. The organizational culture depends directly on this, since these people are at a hierarchical level where they are able to really generate influence and propose changes.

Innovation management is decisive so that companies are always ahead of their time, with possibilities to lead the market with dynamic and unique processes internally. This favors creativity, increases productivity and creates an ideal work environment

To understand more about the corporate environment, be sure to also read our content on how to combine climate and organizational culture to generate an atmosphere of growth!