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In this hyper-fast, IT product-making environment, continual cycles of innovation are as important to a business’ long-term relevance as they have ever been. Without it, organizations quickly lose ground to competitors, new market entrants, and industry disruptors.
This has led largely to the rapid rise of continuous iteration of software applications as a standard development approach. These include the DevOps and agile development strategies and a whole new cottage industry that’s been built around tools for these purposes. eWEEK has been covering these developments for more than five years.
However, one of the common mistakes businesses make is assuming that innovation is limited to technological development. In reality, innovation is not only about new technologies and inventions; it is a mindset that must be cultivated within an organization. Once that approach becomes embedded in corporate culture, it sets the table for new ideas, new products, and company growth.
To explain this, eWEEK offers this Data Point article, which consists of 10 strategies based on industry information from Cisco Systems’ Managing Director of Strategic Innovation, Alex Goryachev, for how organizations can create a lasting culture of employee-led innovation.
Data Point No. 1: Innovation can come from anywhere.
Innovation can come from anyone, anywhere, at any time. It can be a new business process, a new way of communicating with customers, or game-changing improvements that boost the top or bottom lines. Organizations should implement programs that solicit innovative ideas from all departments and provide the support to bring those ideas to life.
Data Point No. 2: Enable cross-functional collaboration.
Break down business-unit silos and provide opportunities for individuals from different departments and functions to collaborate. Innovative ideas and new ways of thinking happen when people from different backgrounds, with diverse perspectives and skillsets work together. Cross-functional teams should be inclusive, valuing each member’s perspective.
Data Point No. 3: Get buy-in from the C-Suite.
Innovation rarely comes from the top down, but executive support for innovation across all functions is still essential. Leaders from the C-suite on down must reinforce companywide innovation as a key strategy for each employee. Employees can tell if a company is only paying lip-service to the idea of innovation, but if executives walk the talk by providing innovation resources and incentives, it can make innovation contagious across the organization’s talent pool.
Data Point No. 4: Encourage employees to pursue passion projects.
Anyone can become a great innovator when motivated by personal passion. Most entrepreneurs are driven primarily by the desire to take their idea and make it work to improve things – not financial incentive. Companies should create opportunities for employees to discover their passions, and provide mentorship and support to help them turn those motivations into marketable solutions.
Data Point No. 5: Gamify innovation.
Innovation thrives in environments that encourage creativity and fun. Gamify your approach to innovation by creating friendly and exciting competitions that reward and recognize employees for developing breakthroughs to existing problems. Incentivize teams with prizes like extra time off or significant funding. Just remember, awarding prizes without providing follow-up support to help the winners bring their ideas to life will only make the company’s efforts seem hollow.
Data Point No. 6: Engage with the broader community.
Innovation cannot live in a vacuum. Invest in online collaboration sites linking employees with external resources, co-working maker spaces, and external innovation centers. These collaborative environments allow employees to interact with the broader ecosystem of innovators in their community, including customers, partners, local startups, developers, representatives from the local government, and researchers from local universities.
Data Point No. 7: Empower employees to take risks and embrace failure.
Innovations are rarely completely right on the first try. Empower employees to experiment and take risks without judgment. Celebrate failures as learning opportunities and stepping stones on the path to ultimate success.
Data Point No. 8: Mentors are more impactful than managers.
Innovators need mentors, both inside and outside the company. Traditional managerial roles can be roadblocks to innovation by focusing on top-down decision-making, rigid deadlines and short-term outcomes. In contrast, mentors don’t direct; they guide individuals and teams on how they can move forward to overcome business or technical hurdles, then they back off and let the teams do it.
Data Point No. 9: Create an innovation strategy.
Companies often have no defined approach to innovation, treating ideas as one-off projects or throwing money at them without a clear process for bringing about innovation. Innovation should be a disciplined process, but one that still gives employees the freedom to work outside their normal roles and pursue their interests. Set the strategic focus then give innovators the time and resources they need, and get out of their way.
Data Point No. 10: Make startup-like entrepreneurism a core tenet of the company culture.
Innovation is a mindset that must be embedded into each employee’s everyday focus. Company-wide innovation programs, reinforced by the C-suite and business-unit leaders, must encourage all employees to think and act more like entrepreneurs in a startup-like environment. Back up this manifesto by providing the tools necessary for employees to co-develop their most passionate ideas.
This article originally appeared in Eweek.com on August 21, 2018
What Alex Can Do For You
Developed and led AI and Innovation strategy for multiple Fortune 100 companies, driving double-digit revenue growth.
Over 20 years of hands-on experience driving transformative business and technology solutions for global brands like Dell, Amgen, IBM, Pfizer, and Cisco.
Recognized by Forbes as “One of the World’s Top Experts on Innovation” and named a “Top AI Keynote Speaker to Watch.”
Frequent contributor to Forbes, Entrepreneur, and Fast Company, sharing actionable insights on AI strategy, the future of work, and innovation.
What sets Alex apart from other top AI speakers and innovation experts?
With AI and innovation elevated to buzzwords, there are plenty of speakers in this space. While many offer insightful keynotes, few can bring the depth of understanding, hands-on experience, and diverse viewpoints that Alex can. Alex doesn’t just talk about AI and innovation. He’s led it at Dell, Pfizer, and Cisco. He’s sat across from C-Suite execs to build global innovation plans. And he’s resonated with audiences at Google, AWS, Disney, Coca Cola, and dozens of other companies with keynotes tailored to their unique AI opportunities. A frequent contributor to Forbes, Inc., Entrepreneur, and Fast Company, Alex has been identified as a Top AI Voice on LinkedIn. He is also the author of a Wall Street Journal Bestseller, Fearless Innovation. Alex’s style is personable, approachable, and human. It’s never caught up in techspeak, or jargon so he resonates with any audience. Learn more about what sets Alex apart. Get in touch.
How does Alex customize keynotes and workshops?
No two organizations’ AI or innovation opportunities, or challenges, are the same. So canned keynotes or one-size-fits-all workshops just won’t do. Instead, Alex uses AI and data to tailor his engagements with available pre-event surveys. Analyzing responses, Alex customizes his content to address key needs and pain points, ensuring his message is meaningful. Speaking with leadership and other event stakeholders, Alex further customizes the content to ensure resonance and relevance, engaging audiences. Add it all up and you have keynotes and workshops that feel like they’ve been created for you—because they were. Learn more about Alex’s methodology. Get in touch.
What events and audiences are right for Alex?
With so much experience leading large-scale innovation initiatives, Alex is able to reach and resonate with any audience, no matter their knowledge level, industry, culture, or department. Captivating audiences from a live stage, or a virtual event, Alex is a fixture at C-Suite summits, innovation conferences, policy talks, offsites, and employee all hands meetings, plus governmental and academia events. An audience looking for fresh perspectives, real solutions, and custom content will find Alex’s keynotes engaging and actionable with ideas they can start applying right away. Curious about Alex’s recommendations for your event? Get in touch.
What companies and organizations have worked with Alex?
Alex’s roster of past clients, keynote engagements, and employers reads like a Wikipedia entry of the world’s most innovative, respected organizations. Disney, Coca Cola, ISO, AWS, Google, LEGO, CAT, IBM, Cisco, Dell, and dozens of other organizations have benefited from Alex’s keynotes, workshops, and strategic advisory services. As the former Managing Director of Innovation Strategy at Cisco, leader of global Innovation Centers and Smart City programs in 7 countries, and creator of innovation tracks for 3 Olympics, Alex’s real-world experience magnifies his impact upon any organization he partners with. Additionally, Alex has worked hands-on with governments, industry groups,startups and scaleups, plus large academic institutions, like the University of Delaware and The University of California, impacting 300,000+ students and thousands of faculty.
What topics does Alex Goryachev cover in keynotes and workshops?
While every keynote or workshop is customized to an event or audience, Alex is often requested by clients to bring a fresh perspective and real-world expertise on topics, including: AI’s impact on work and education Innovation in the age of AI Building buy-in and reducing hesitancy towards AI Policy and ethics related to AI C-Suite and leadership insights on AI Employee engagement in innovation The impact of AI on society Use cases, solutions, and strategies for AI and innovation Innovation culture and proven frameworks Reskilling and workforce preparedness Education and academia policy Government AI policy and legislation For additional topic ideas and recommendations for your event, get in touch.
These aren’t just better ways to use ChatGPT, or create short-term buzz. This is what the most influential organizations on earth use to shape the future.