As business models being are challenged, organisations need to become more adaptable and resilient, naturally also by becoming more efficient and cutting inadequate costs. This change must happen from the bottom up, with the right leadership and sponsorship, to separate the good from the bad costs, at both micro and macro levels. Innovation managers can, and should lend a hand to address this shared challenge.
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When developing your innovation agenda, bear in mind that employees deal daily with inefficiencies in your company, having often diverse and powerful ideas related to organisational processes and products. The following are real examples of this.
When introducing a cost-cutting strategy in your innovation agenda, you should first have a clear view of your company’s strategy and map out good and bad costs for programme intervention, at macro and micro levels. Both macro- and micro-level-oriented strategies have value and they often make more sense combined.
A successful cost-cutting strategy is connected to an organisation’s capacity to evolve, to innovate, and to do it as whole. Companies can, in fact, keep innovating in ways that do not require high investments in new products’ research and development, and which can save substantial amounts of time and money.
Today the traditional model of ‘top management decides’ and ‘everyone else unquestioningly executes’ is less likely to succeed, namely in your innovation efforts. Leaders need to define strategy based upon established fundamentals and then clearly communicate that strategy throughout their organisation. Transparency is paramount in the twenty-first century enterprise.
We know that innovation is the cornerstone of any corporate growth imperative. But the innovation industry apparently needs a return to sanity: we need results. It’s time to discard obsolete models. This is where our ‘intervention’ steps in.
