In the previous blogs, you have been able to read how you can strengthen and improve the building blocks of your House of Innovation and how you can use the QuickScan to get a quick overview of the strengths and weaknesses in your organization and which areas for improvement you can start working with immediately. In this blog, we take a closer look at the four core competencies needed to not only improve but also accelerate the process of innovation.
Core competencies and areas of expertise help organizations accelerate in a constantly changing playing field called innovation. The competencies are essential for achieving growth and optimizing all aspects of your innovation house. Portfolio management allows companies to effectively manage their resources and prioritize projects and initiatives. While continuously delivering value is vital to meeting customer and stakeholder expectations. Continuous learning and improvement enables organizations to adapt and evolve. Finally, building effective teams is a cornerstone for optimal collaboration during innovation. Together, these four competencies form the backbone of successful organizations in today’s rapidly changing business world.
Let’s take a closer look at the four core competencies:
- Portfolio Management
Lean-Agile Portfolio Management acts as the bridge between strategic innovation goals and actual execution. It provides executives with an effective tool to develop the right products by maintaining insight, oversight and control over the limited resources available. This competency comes from Lean-Agile product development and ensures that organizations remain agile, being able to respond quickly to changes in needs, technologies and market conditions. Lean-Agile Portfolio Management is therefore considered an indispensable discipline in any organization seeking to innovate effectively.
- Continuous Value Delivery
By investing in “Continuous Value Delivery,” you achieve a sustainable chain that can deliver products to the customer faster and faster.Every organization consists of a chain through which value is delivered to the customer. These chains often contain many handover moments between different disciplines, causing delays in the process. The challenge lies in connecting disciplines and streamlining and/or automating work processes so that you can get (small parts of) products to market faster. Therefore, more and more companies are switching from the traditional “waterfall” approach, to an agile approach for their product development.
- Continuous learning & improvement
Perhaps you feel that in your organization there is already a lot of focus on personal development and learning. However, this learning is often individually focused, is not linked to strategic goals and creates a fragmented landscape of improvement initiatives that are not or hardly completed. By organizing the process of continuous learning and improvement and then cyclically identifying and solving the real problems, you ensure that, as a learning organization, you greatly increase your power of improvement. You achieve results sooner, see energy and decisiveness increase and notice that goals are now actually achieved on time!
Continuous learning and improvement encourages a continuous cycle of growth and progress. By continuously learning from experiences, feedback and failures, organizations can increase their knowledge and gain insights that lead to new ideas and innovative solutions.
- High performing teams
Effective teams bring together diversity of thought and expertise, leading to creative solutions and new ideas. These teams can bring in different perspectives and skills, allowing them to tackle complex problems and develop innovative approaches. They also foster a culture of collaboration, open communication and knowledge sharing, which encourages the growth of innovative concepts. Effective teams can iterate quickly, integrate feedback and make adjustments, bringing innovations to market faster and adapting better to changing conditions. Innovation thrives in teams where collaboration, diversity and expertise come together.
In a modern development organization, teams are the foundation of your organization. People no longer work together temporarily for a project, but are part of a permanent and stable team to which the work is brought. Working well together in a team is a huge challenge. Especially when teams are multidisciplinary for the first time. To support each other from different roles, you have to dare to step outside your comfort zone. When a team is not properly assembled and supported, a lack of trust can develop. At that point, a team is no longer able to deliver results properly. A team needs goals, discussion and collaboration to deliver results. And this is exactly why you need effective teams: to deliver results!
Make speed too?
Synergio has developed extensive expertise within core competencies. Our deep knowledge and experience in innovation and product development enables us to provide customized solutions for you and your business. Would you like to know how to improve your organization’s innovation and would you like to discuss this? Then fill out the form below and we’ll get back to you soon. We are Synergio. We are happy to think along with you.
Figure : roadmap to innovation power
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