10 Rules for Managing Global Innovation
Unless companies and organizations have the right insights, they will continue to waste the great potential hidden in the current global innovation strategies. Unbeknownst to many managers, global innovation holds answers to most challenges faced by businesses on a daily basis. Therefore, there is a great need to know how to manage innovation.
Experts in business management argue that although managing these strategies may take a common path, it is not necessarily the case that they will work on all projects. All in all, we will take you through the popular rules for managing this global innovation.
Start Small and Grow Gradually
Global innovation will be excellent if you have multiple projects and sites putting the resources into action. However, you are likely to fail if you have poor collaboration and communication. If you want all the resources to work in harmony, start small and grow gradually. With these precautions, managers will have time to adapt and develop appropriate means to collaborate for a seamless workflow.
Stable Organization Context
As your company grows into international levels, the processes are likely to get complex, especially when focusing on innovation. There is a need for stable context so that your team does not lose focus. The managers who are tasked to take care of specific branches should not forget the important innovation concepts that directly affect the business. That is why successful companies keep on training their managers and recalling them to the head offices for frequent meeting. This way, they can even make critical decisions while still maintaining the goals and objectives of the company.
Hire a Skilled Manager
Project managers who have what it takes to manage innovation are crucial in any project. They will implement structure and systems in a way that is not only creative but also will fulfill the intended goals. Look for a manager with enough experience in project management since she or he will introduce new ideas and also can identify the innovation potential in available resources.
Unless the employees or project team is trained more often, they will take a laid-back mentality. The trainings should cover different aspects that promote innovation both in the departments and the entire business. It is also during such training programs that you will pick people who are talented in specific areas and not necessarily where they have been posted. When there is an excellent training, you will probably see the results within a short time. As a matter of fact, a training that is conducted by international instructors is likely to yield better results.
Have a Lead Project
Global innovation strategies may be applied to many projects simultaneously. However, GRS management recommends the selection of one project to be the leader. Even though all the projects are important, one has to be the lead project. The eyes of every stakeholder will be on it to make sure that it will succeed. It will be the benchmark for the other projects, which means that it will always lead especially if there is a new innovation being tested.
Any project should be given enough time to define what innovation will be used in the project. Now that there may be different sites with different cultures, global innovation can be defined through the goals that must be achieved. Managers are tasked with collaborating on other sites so that the overall goal will be reached by the entire global project when it is completed.
Some organizations and companies usually reward innovation in ways that prompt team members to think even harder. Both the leaders and the other team members will embark on research to look for ways in which they can bring change and benefit from these ideas. It could be promoting the best thinker, adding remuneration to the most innovative team members or giving a holiday to your staff. According to experts in business, organizations that appreciate staff have some of the best processes and technology, all of which have been suggested by the employees.
Invest in Time Management
For global innovation to be part of your company, the managers and the entire team must think about time. All the set goals must be achieved within a certain time frame. The world is moving first making some innovations and technology to become redundant within a short time. Catching up with the world requires a fast thinker and someone who will push for changes in the organization within a short time. Therefore, time management in terms of milestones is a key factor when planning for global innovation in your business.
Fair Distribution of Resources
With different types of sub-projects, the resources needed will depend on the particular project and the location. One thing to consider is that the resources may not be similar, but the distribution needs to be fair. One can evaluate the needs of the project to determine which resources should be provided. This way, the full potential of the project can be maximized.
Control the Subcontractors
When dealing with projects or managing resources, one of the best ways to promote global innovation is by limiting the number of subcontractors. If the main one project has already factored in some useful technology and ideas, subcontractors are likely drop some of these ideas or implement them poorly due to poor communication and other challenges faced during the transfer of jobs. Therefore, the fewer the subcontractors, the better it is
Use Technology Well
Technology boosts innovation in projects. But when used poorly, it will increase challenges rather than bring solutions. Additionally, technology can fail due to various reasons. This creates the need for the project to have an alternative plan if technology does fail. This may include face-to-face communication, use of hard copies and many other steps.
With the above information on how to promote global innovation in your projects, there is a higher chance that you will have the best results. However, most people fail because they do not take care of the above factors in the right way. It is crucial to be among those who will succeed in global innovation.