Bernhard Burgener talks about the significance and benefits of innovation management

To remain relevant, businesses today must promote innovation via innovation leadership

Bernhard Burgener a successful entrepreneur and businessman believes in the power of innovation to be successful in the business world. To remain effective in the long run innovation is essential to keep up with market demand.

Read on and see the ways you can incorporate innovation management within your business more effectively.

What is Innovation management?
https://www.horizont.net/suche/thema/Bernhard+Burgener The term innovation management is frequently a subject of debate. The very definitions of innovation suggest that they cannot be managed.

However, there are others who are stout believers in building systems and processes to create more innovative processes. It's not as easy as you'd think.

Let's take a moment to look at what it means by the word. Merriam-Webster defines innovation "innovating something entirely new." But this is not the same as simply inventing a new product.

"Innovation management" refers to the management of the entire process required to "introduce something new."

According to the definition, there are various types of innovation. This is the root cause of numerous disagreements regarding innovation.

It is normal to refer to the term "genuine" in reference to a specific type of innovation. However, this is only from their point of perspective and knowledge.

Four key pillars for innovation management from Bernhard Burgener
Through his own experience, Bernhard Burgener has found the most straightforward way to comprehend the topic. This is achieved by breaking down the topic and examining each aspect of innovation in its own.

Here is the primary principal pillar Bernhard Burgener said you should focus on:

Competency
Competency refers to the capacity of the company's employees to in generating and managing innovative ideas.

Innovations are dependent on the skills of both groups and individuals, but the competency aspect is primarily based on people. This is mostly about the abilities to know, the knowledge and the practical skills of employees.

Managers require an entrepreneurial approach to leadership.

The model also takes into account the organization's information capital in the form of tacit knowledge, other resources and financial capital. All of these may be required in order to produce innovations.

Structure
Structures facilitate the effective use of capabilities while capabilities enable the utilization of structures. In practical terms, this refers to the structure of the organization's organization as well as processes and infrastructure.

Structures that can be exemplified could act as a force multiplier, allowing an organization to be more innovative and perform more effectively.

Few ideas will succeed without the appropriate communication channels, decision-making processes and the right infrastructure for implementation. This is where tools like innovations management software could help.

Culture
The concept of culture is one way for an company or group to acquire the capabilities of people, if its structure allows it to apply these capabilities effectively.

Companies that are embracing innovation culture can make it easier to keep and attract the best people.

Bernhard Burgener A pro-innovation culture promotes good behavior and discourages bad ones. The culture of an organization can have a significant impact on its ability to innovate and its results are swiftly accumulating. These are the traits of an innovative culture.

It stresses the importance of continuously making improvements.
Most valued are speed, knowledge, experimentation, and flexibility.
Accept failure as a necessary part of the creative process
Allows employees to have sufficient autonomy and responsibility. Instead of using a chain of command approach, focuses on the vision and culture.
Strategy
Strategy is the organization's long-term plan for success.

It is crucial to understand that strategy is the process of making conscious decisions. These decisions need to be made from a wide range of choices to make sure you are given the greatest chance of "winning." This decision is not a separate thing from the execution.

Innovation and strategy are closely related subjects. In essence, however, innovation is just one method to reach your goals in strategic planning.

Bernhard Burgener discusses the many types of innovation that need different management styles.
Open Innovation
It is based in the belief that intelligent and innovative people outside the organization can contribute towards strategic goals. They can also share intellectual property that could benefit various parties.

The more data gathered is the more knowledgeable the final decision. The development process within the open innovation funnel is not limited to those within the facilitating company. Additionally, there are more ideas.

Bernhard Burgener Incremental Innovation
Incremental Innovation is a series or minor improvements to existing products or processes.

Incremental innovation can improve the efficiency and effectiveness of development of existing products and also their differentiation in the marketplace.

A product's market position is often maintained or enhanced by incremental improvement. This is a common practice in the field of consumer technology. Businesses strive to make their devices more user-friendly.

Sustaining Innovation
It occurs when a firm creates products that perform better and sells them at higher profit. It's typically a plan of action one that has proven successful in the use of its business to sustain innovation.

Profit is the primary driver behind the development of new products. A company can make ever greater profits by creating more efficient products for the most loyal customers.

Bernhard Burgener https://www.transfermarkt.co.uk/bernhard-burgener/profil/trainer/53291 Disruptive Innovation
This type of innovation occurs when a company, which has less resources, move towards the top of the market and challenge an established business. It's possible for disruptive innovation to be classified into two distinct types.

Low-end disruption This is disruptive activity occurring at the bottom of an existing market that uses a low-cost model.
New market disruption A company which caters to an underserved segment of a market can develop and claim a brand new market.
Instead of fighting the new entrants, both types of disruptive innovation forces incumbents to retreat.

What are the issues Bernhard Burgener sees in innovation management?
Poor infrastructure
The ability to succeed is dependent on infrastructure, resources, or processes. For example, it's easy to discuss Google's 20 percent timer as a great initiative to encourage the development of new ideas.

However, if your company had the same policy, it would probably be less efficient. Your employees might not have access to the exact tools, infrastructure, knowledge or raw data that Google employees do.

The manager should ensure that the team has all they require.

Culture lacks a growth mindset
It is crucial to create an environment that encourages growth in your business. A growth mindset is based on the belief that you're not fixed nor can you change yourself.

This is true for the culture of an organization. A culture that promotes growth is a key ingredient to fostering innovation within an organisation.

There isn't a clear picture.
It is normal to invent something that does not exist in the present, and this is often the reason for major innovations.

A compelling vision is more likely to attract passionate people who will make the effort to come up with new ideas. Although you might have an inspiring vision for your business but you must communicate the vision clearly and get acceptance.

Bernhard Burgener would have it this way Keep the dream alive and keep innovating!