The DeSai Group offers a new white paper entitled “Mastering Innovation: Roadmap to Sustainable Value Creation Using Strategy Driven Innovation” which is available for download at http://www.desai.com/Resources/resources.asp.
Authored by Jatin DeSai, the Chief Executive Officer of the DeSai Group, the white paper explains how to build a climate and culture of innovation, agility and entrepreneurship while maintaining standards and controls necessary for ongoing governance.
DeSai states that the key to becoming an innovative organization is addressing four critical barriers:
- The first barrier is that most organizations do not have the mindset to harvest ideas and manage those ideas
- The second barrier is not recognizing and then not aligning the abundance of resources available to large organizations for investment in innovation.
- The third barrier is to recognize the sheer size of the human capital assets that are under-utilized and disengaged from an organization’s creative capacity.
- The fourth and final barrier relates to the broad product and delivery capabilities that large-scale organizations possess.
The white paper goes on to outline DeSai’s Strategy Driven Innovation (SDI) framework to create a sustainable, long-term value-creating engine. The first step is choosing what value – top-line, bottom-line or shareholder value – is most appropriate based on the organization’s business strategy.
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The next step is defining the organization’s innovation mandate – at the corporate and at each business unit level. Then comes learning about the game of innovation and associated risks and rewards to help make informed decisions about moving forward. Finally, there is the need to make investments to manage innovation activities.
Desai’s SDI framework uses systematic execution methods to directly address the specific mandate for innovation to move the organization towards its value target.
The SDI framework can provide a customized framework for innovation through four entry points or levers showing barriers, opportunities and outcomes that should be considered as best practices for an innovation journey. The framework is supported by tools, methods, training and a technology platform from DeSai.
The SDI framework includes four levers designed to help overcome the challenges and barriers to innovation. The “venturing for best” lever is designed to help develop the venture market mindset and methods for new business ventures.
The organization can identify opportunities by replicating external market mechanisms so that capital, talent and ideas are always achieving their highest possible return. The “agility for speed” lever helps design the organization for innovation and agility.
Teams and groups can be organized to support a conduit between each new venture and the organization’s overall governance process with the specific mandate to help launch, align and learn from the ventures.
The “behaviors for growth” lever builds and integrates entrepreneurial behaviors to support innovation. The workforce can be trained and incentivized to behave like agile entrepreneurs.
Finally, the “climate and culture for success” lever helps align products, channels, customers and employees for sustainable innovation. The theme is overhauling antiquated processes and replacing them with practices that prioritize, enable and reward innovation, speed and adaptiveness. The white paper explains how these levers can drive an integrated and holistic approach to generate sustained and successful innovation.