Why do we need innovation?
Consider this for a moment. Companies are in place to deliver a return to stakeholders - whether this be financial
or philanthropic - and delivering a return to stakeholders means satisfying a customer need. Because customer
needs are changing at a faster pace than ever before and, due to the immediate availability and plethora
of choice in the global, virtual shopping mall; customer demands are at an all-time high.
To stay ahead of the game, companies need to find quicker, cheaper and better ways to service those demands
ahead of the competition. And how do we do this? We innovate: we bring something new, or seemingly new,
to the market place at the right time and in the right way; something that blows the competitors out of the
market. Without innovation we stand still and are swiftly overtaken.
An 'ability to innovate' is therefore the secret ingredient to graduate superstars and it's the core capability
companies should be searching for and recruiting against. Fortunately, the Global Generation is a whole new
breed of innovators: having grown up in a world fuelled by technological advances, the prevalence of
education, prolific online activity, a global reach and previously unimaginable automation; the term innovation
is not jargon - it's an everyday occurrence.
But what do I mean by an innovative ability? Well, the latest thinking around innovation suggests there
are six elements to get right:
The six elements of an innovation ability:
- Ability to identify a contradiction.
Spotting a contradiction that needs a solution is where true innovation occurs
e.g. people want clean hair without washing it - a contradiction - hence dry shampoo which was invented to soak
up grease, not to clean hair. To do this, graduates need to be inquisitive and explorative, connected and
networked with the ability to see the link between independent things.
- An ability to analyse a problem.
Getting to the true root cause of the problem and not falling for the symptoms of it e.g. James Dyson realised
the problem of keeping carpets clean was not one of vacuuming debris, but one of separating debris from air -
hence his bagless vacuums modelled off technology from a sawmill. To do this, graduates need to gather,
collate, classify and organise huge amounts of information and present the implications to people succinctly.
- An ability to generate possible solutions.
Generating a range of possible solutions that, if applied, would fix the root cause of the problem, not
just a bug. To do this, graduates need to be creative and resourceful in finding solutions,
perhaps looking to other domains where a similar problem has already been solved e.g. the inventors of Google realised that the problem they
were trying to solve was one of categorisation so they looked to library systems and applied the
existing categorisation solution to their own problem. They will also need to be able
to work with others, leveraging the group's creative thinking whilst considering the Glocal - local applications of
global solutions - market place.
- An ability to select and plan the solution.
Selecting the most appropriate solution to that problem rather than the sexiest or most accessible solution
at the time e.g. the Zedwig failed as it was expensive and not really all that useful for
most people: it was about invention not innovation. This means being ruthless and results
focussed not output focussed. It also means having effective project management skills.
- An ability to implement the solution.
Making it happen at the right time and in the right way, bringing people and customers along for the
journey. This means being able to communicate effectively to stakeholders, sell the benefits, secure
resources and lead a team to build, drive and sustain a solution.
- An ability to evaluate the solution.
Being able to critically appraise the solution using real and meaningful customer feedback, and acting on
it for the better e.g. Nintendo added new and improved straps to the remote of their innovative product,
the Wii, following hundreds of cases of broken TVs etc. To do this, graduates will need analytical
skills, communication skills and a decision making ability.
This blog is taken from a wider article titled: "How to get the most from the Global Generation". Click here to read this article in full.
How to get the most from the Global Generation:
Written by a graduate turned graduate recruiter, and informed by the latest thinking on how we
attract, recruit and retain our graduates for true market value, this paper provides a detailed
and honest appraisal of the true root cause of the disconnect between graduates and employers
and outlines a comprehensive model for bridging the gap in a commercial and mutually beneficial way.
Read more...
Has this inspired you? Drop me an email or give me a call to discuss your innovation capability:
lisa.bean@gradvert.com | 07969 075633 | www.gradvert.com
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