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[Posted on Behalf of Subbu Iyer Founder and chief Designer Hreemm ]
The Process of Innovation
Globally the understanding of the Process of Innovation has been driven as a populist understanding of Ideas Management. That probably worked when the rate of innovation and the expectations of growth were spaced incrementally. That equation cannot work when the socio-economic demand is exponential both in terms of time and scale.
The Process of Innovation has four distinct steps as the above illustration indicates. Each of these steps need to be connected at a global level as technology is supported by globalization and democratization of systems. Data Security has been the major scarecrow that has been used by enterprises over the last two decades in their demonstrated reluctance to transform from Oligopolies and Monopolies to Collaborative Enterprises. That will not continue for long once the budding startups embrace the Open World and Universal Architecture with certainty.
The four stages of Innovation are therefore:
Conceptualization = The Process of Process & Technological Modeling a Cluster of Ideas into a Potential Solution that addresses the Aspirations of a Customer and its corresponding Econometric Models. It should involve the entire Customer Universe Ecosystem.
Engineering = The Process of Building Solutions that take the shape of Engines, Components and Connectors. They are certainly not end products but rather the artifacts that would contribute to the construction of a Platform, Product, Process and / or Project (Service) providing a visualization of how effectively can a Customer derive Value from an Enterprise Business Offering.
Industrialization = The Process the optimization of Customer Adaptability. This understanding is what drives the Version and Release Management; especially in a global world where the Business Offering must include diverse cohorts of Customers across geographies with a Uniform Engagement & Experience.
Commercialization = The Process of assuring that Value Created at the Conceptual Model is realized by the Customer. The consequent loyalty enables the establishment of Trust allowing for a seamless renewal facilitating a Reduced Cost of Goods Sold (COGS) and a consequent Return on Assets (ROA).
Far from being a fancy abuse, Innovation must be integral to an enterprise Concept, Culture, Capability and Configuration that works towards growth in a Continuum; one that is driven by Value as opposed to Revenue alone.
It should not be hard to imagine looking at the above illustration, why Innovation is not commensurate to the rate of demanded growth globally when Customer Growth and / Or Aspiration is not the Connected Driving Factor. The lack of Customer Focus is in each stage of innovation is evident as an self-absorbing exercise more than a Value driven one. Most importantly, it is not a connected process to transport Intellectual Property (IP) that can actually be valued in exponential terms; in a continuum from Conceptualization to Commercialization.