Innovation has been an industry buzzword for a number of years now, but what does it actually mean for organization? Or better yet, what do you do when you manager comes into your office and simply tells you to improve the innovation coming from your group?
A couple of good tips came from a panel discussion held during Innotribe regional Start-Up Challenge in midtown Manhattan last week.
First, firms should start small, according to Sbverabank's Mircea Mihaescu. When a bank tries to make to make everyone responsible for innovation, effectively they are making no one responsible for it, he adds.
To address this issue, Sbverabank created a 15-person team dedicated to introduce innovation. Beside speaking with a number of start-ups selling disruptive technology and services on a regular basis, the team runs numerous short-term pilot projects that could last between two and six weeks in a "secure sandbox" to identify which projects will bear fruit.
The other suggestion, which came from Swift’s Kosta Peric, is stop trying to push innovation onto targeted business units and go for the soft sell instead.
“If you have to push innovation, it is not going to work,” he says. “People need to pull.”
The innovation team should demonstrate a specific innovation’s benefit to the respective business unit and have them say “We want that,” he adds.
To read further on innovation, I sugest that you check out Kosta's blog.
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