The list of problems that need to be solved is growing almost as fast as our solutions are. Some are concerned about the lack of food and water security, others worry about access to education and a whopping 45.2% of millennials think today’s most pressing problem is the destruction of natural resources. But with the proliferation of problems, organizations and enterprises are broadening their search for innovative solutions and many of them are looking to the crowd for ideas.
November 25, 2014 | By: Bjorn Axling, Gustaf Ahlenius, Daniel Roos, Rick Eagar | In: Organization & Culture
Driven by the need to respond to global hyper-competition and the increasing clock speed of technological change, companies are relying heavily on their R&D functions to accelerate innovation while maintaining tight budgets. However, organizational structures for R&D in large international companies are often sub-optimal and act as a major barrier to performance improvement. In order to successfully optimize R&D’s contribution to business value, companies need to address the three key dimensions of structure, governance and process. From our extensive work with the R&D functions of leading global companies, we have identified eight imperatives to ensure a successful transformation across these dimensions.
Running a successful enterprise innovation management program can be a challenging mission. Multiple factors have to be considered,each of which affect potential outcomes. One key aspect is the level of support an innovation program receives from an organization’s management. Connecting the needs of top-down management with the strategy and architecture of an innovation program will always lead to greater levels of success.