Increasing Innovation Impact

By • on November 3, 2013

The Manufacturing  Business Technology website podted an article which asked why is there such a large gap between the need to innovate and the ability of organizations to actually innovate successfully? The problem is not a lack of innovative ideas, but rather an inability to transform the best of these ideas into bottom-line results. The process for transforming an enterprise’s maze of good ideas into bottom-line results can be achieved by following three steps: 1.) Identify the organization’s internal entrepreneurs; 2.) Empower them with a process and program to build their entrepreneurial skills under experienced mentors; 3.)  Leverage these empowered intrapreneurs to encourage others inside the organization. A specialized “Open Innovation” program that engages external startups is an effective way to accomplish these three steps.

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