Here is a brief excerpt from an article co-authored by Mary Ahner, senior vice president, and Jerry Laird, executive vice president, Sinclair Group. They suggest seven ways to refresh innovation in your organization. To read the complete article, check out other resources, and learn more about the firm, please click here.

* * *

Innovation means a lot of things to a lot of people. One view is that innovation is the process of actively ensuring that good ideas get to the marketplace efficiently and effectively.

It has been reported that 75 percent of CEOs make innovation a priority for their company. While that’s conceivable, there’s a sea of options for how you manage innovation. Senior leaders may put it on the radar because they recognize that a static, commodity-based view does not produce longevity in the marketplace.

For mid-level managers, innovation is more likely to be on their shelf-of-mind because the product lifecycle is short. And there’s no shortage of competitors with the next best thing. How people go about innovation varies. Some take a more project-centric approach where every idea generated is screened from day one, setting the stage for meaningful development.

With many years in manufacturing operations and management, we have found the key elements of an effective innovation process are to:

o Identify and communicate best practices.
o Develop an implementation plan that includes resources to get the process up and running.
o Establish a steering team with business and asset owners to ensure pilot success.
o Establish routine activities into a standing team that supports and advances the innovation process.

Figure 1 represents our view of a successful innovation process that encompasses these key elements. Much like any successful business process, it ensures an adequate supply of new ideas that are rapidly transformed into commercial reality.

Figure 1. The Solid Foundation of the Innovation Process

The following process tips can help you actively manage and revitalize innovation in your organization:

[Here’s the first of seven]

Tip 1. Designate a focal point for idea sharing

Pitfall: Having no designated point of incubation. There have been few studies on the front end of the innovation process. Much of a company’s time is spent managing the development, testing and validation of innovative products and services. In actuality, not being diligent about the activities in the front end of the innovation process can lead to non-strategic ideas and missed opportunities. If your company’s innovation process resembles the cafeteria suggestion box, it warrants some attention.

Proactive step: Designate a team to act as the receiver of ideas. This provides a focal point for people within the organization to share ideas, establishes an effective gate for screening and eliminates uncertainty as to whether ideas are ever heard or evaluated. In a survey of their member companies, APQC’s 2014 Product Development and Innovation Hot Topics Survey Summary Report released in March 2014 has identified this as a critical success factor. Make it easy to submit ideas and develop incentives for those that actively participate.

* * *

Here’s a direct link to the complete article.

Mary Ahner manages client engagements related to assessments and due diligence as leader of the assessment practice. She is responsible for ensuring the client needs are met and exceeded, as well as building the related capabilities in the assessment area including maintaining intellectual property and developing methodology. With expertise in global business unit optimization, strategy, multifunctional integration, portfolio management and M&A, Mary has demonstrated remarkable adeptness with a variety of manufacturing-related projects including capital projects, marketing approach, product mix optimization, footprint optimization, manufacturing metrics and global supply chain. During her 25 years with ExxonMobil, specifically in the specialty petrochemicals area, she worked in technology, engineering, marketing, sales and management; her most recent role with the refining leader having been a global business unit vice president. Mary has a BS in Chemical Engineering from Louisiana State University.

Jerry Laird brings thirty years of experience in the two largest public and privately held energy and petrochemicals companies. His previous roles included manufacturing, process and major capital project engineering, product and application technology development, intellectual property management and patent strategy, and merger and acquisition execution worldwide. Jerry also led a global petrochemical and polymer consulting business with focus on product and applications development, technology selection, and collaborative cost and performance benchmarking. As Executive Vice President with Sinclair Group, he manages strategic relationships with clients in various sectors including refining, petrochemical and polymer industries. By applying his expert insights of markets, technologies and strategies, Jerry creates the utmost value for clients to address challenges for both operators and owners. Jerry received his B.S. in Chemical Engineering from the University of Pittsburgh and M.S. degree in Systems Engineering from the University of Southern California.