Theory of Innovation

 

898 has a process for how to best manage a full engagement for innovation, however many businesses chose to only take advantage of elements of the process. It is this innovation process that can make many business owners feel uncomfortable – but change comes from asking difficult questions, suggesting new ways to do things, pushing the status quo.

An end to end engagement for innovation usually follows this pattern:

  1. Understand the business – Depending on the size of your business and the type of change required, this phase of understanding can be several meetings with some or all of your staff through to working within the teams several days a week for a period of time. It is not until we can see all aspects of your business through our eyes, can we truly its full potential.
  2. Identify the real problem – The first outcome of understanding is to see the real problems within yoru business and the industry. Understanding the problems opens up the possibility of change.
  3. Identify the opportunity – Opportunities for change and innovation will be identified and presented back to your business along with pros/cons.
  4. Create business case - Once we work through the opportunities and select those which are most applicable for your business, we then create a business case and model the future business to help you understand the return on investment in innovation.
  5. Execute the business plan – We work with management and staff to execute the business plan created. 898 will bring in whatever resources are required to get this business plan off the ground. This may involve handling the work ourselves, or running a tender process to find the right people to manage the innovation change.
  6. Create handover plan – We will create a plan with your senior management on how to best manage your new business moving forward. The benefit in using 898 is our specialist skills in creating innovation and developing new product, once these are established you should look to manage these internally.
  7. Upskill team – As part of the handover plan, we can educate and up-skill internal staff to manage this project on-going. Additionally, if required we can run the recruitment process to build a product team that manage the business and incrementally grow the new products
  8. Exit Strategy – 898 will begin to remove itself from the organisation on a day to day basis.
  9. Evolve and grow – 898 can work with your team on a half yearly or yearly basis to monitor the innovation and your business as a whole.

If you want to discuss how 898 can help you innovate your business and you are ready to feel uncomfortable with the prospect of change, please do not hesitate to contact us for the first conversation.