Innovation Management

Innovation is the positive change that outperforms the state of the art practice. Innovation can be applied in the areas of technology, products, services and organizational processes.

Innovation is a must for every organization to survive and excel in today’s global competitive environment. Organizational innovation aims at cost reductions and efficiency gains by aligning company efforts and resources with overall strategic objectives. Innovation at a product / services level is an integral part of a well-established Product Lifecycle Management.

Often innovation is not well understood and confused with “idea” and the innovation process with “idea collection”.

VentureLeap assists its clients to manage innovation, addressing their challenges by means of a stage-gate innovation funnel, applying the right innovation tools and methods, based on their particular needs. The innovation process is often thought of as a chaotic process with at random brainstorming ideas finally leading to a “Eureka!” inspiration. The chance of such a “Eureka!” inspiration without prior proper preparation is as small as being struck by lightning. A methodical innovation stage-gate process involves learning from failure, dealing with uncertainty and managing risk, iteratively progressing toward initially defined strategic objectives.

Tools: Five Whys Analysis I Root Cause Analysis I Failure Mode and Effects Analysis (FMEA) I Brain Storming I Mind Maps I Scenario Analysis I Go – No/Go Analysis

* SIZ = Systematic Inventive Thinking
** TRIZ = Theory of inventive problem solving