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Innovation is usually related with certain myths and uncertainties, because they alter an organization’s traditional way of operating, and question the prevailing status quo. Innovation also involves risk… and some perseverance, because to find a golden nugget one must first stir through large amounts of soil.

Under this premise, our free eBook on corporate innovation programs attempts to shed light on the main myths that appear with the implementation of this type of programs.

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Keys, myths and uncertainties when launching a corporate innovation program.

Some basic myths surrounding innovation

Getting beyond the fireworks

Innovation is in fashion; it is one of those terms any company wants to be associated with. The cellophane around a given theme can make people forget the actual purpose behind an innovation program: develop real competitive advantages.

Connecting the dots to light up the magic

Conceiving innovation from a transversal perspective inspires some fear of having to invest much time and resources to connect the different stakeholders that participate in innovation. Today’s technology is the vehicle for many activities included in an innovation program, and facilitates participation from those various stakeholders.

Thinking that creativity alone produces innovation

Behind every new idea is a creative process. But an idea in itself is not innovation. Nor does creativity always guarantee innovation. When you execute a program like this, you must keep in mind that, to innovate, an idea should have a positive impact on its environment. You will also have to provide the necessary resources for its development.

Ideas… and something more

The fear that ideas may end up in a drawer is a recurring one in internal innovation. In response, a corporate program should establish a circuit with stages that go from finding ideas to prototyping some of them and finally delivering them to market.

Finding ideas that are unrelated to the organization’s objectives is one of the most common myths surrounding a corporate innovation program. 

Intelligence or idiocy of the masses?

When innovation is open to global participation, the fear that arises is that the so-called intelligence of the masses may produce many ideas of dubious quality, with its resulting cost in time, resources and internal frustration. Approaching ideas based on corporate strategy and establishing mechanisms to acquire and select ideas will help to separate the wheat from the chaff, as we covered in our free eBook.

Is every employee an innovator?

75% of managers believe that employees are a corporation’s greatest resource for innovation. Not all employees are innovators, but inclusive internal innovation allows organizations to detect hidden talent and establishes a collaborative environment where groups can co-create, creativity is passed on, and there is an appetite for new ideas.

Is going fast an excuse for breaking dishes?

The literature that covers innovation usually touches upon this scenario. Turning an idea into a competitive advantage quickly is a competitive advantage in itself. However, although some risk is inevitable, having a solid innovation strategy can help to reduce such risks.

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