To create and introduce ideas, processes, or new products industrially, companies must understand innovation management. The aim is to make changes in business processes or services for the better. However, innovating a product must be correct to get satisfying results. The following are some rules for product innovation management:
1. Use Strong Leadership
In innovation strategies and portfolio decisions, product innovation management must use strong leadership. Leadership is indeed a major factor in running an organization or company. The purpose of using strong leadership is to design an innovation portfolio. In addition, it determines the innovation strategy and encourages the creation of a truly stable value.
Because of that, the clear direction of the top of the organization has a goal to motivate and support. In addition, being able to appreciate all activities that encourage people to make their own innovations. For this reason, strong leadership must be the rule in product innovation management.
2. Integrate innovation into the company’s business mentality
One of the rules of product innovation management is integrating innovation into a company’s business mentality. To innovate is not as easy as taking a rabbit from a magician’s hat. But everyday innovation must be part of the way entrepreneurs do their business.
That way, a quality company will certainly have a good business mentality. And to have a good business mentality, a leader must be able to adjust management innovation with that business mentality.
3. The Amount and Type of Innovation with the Employer’s Business Must Be In Line.
Another rule for product innovation management is to align the types and amounts of innovation with the company’s business. For your business strategy, innovation can be a key to success. Therefore, companies must support business strategies by determining the type and amount of innovation needed.
You can use several types of innovations together to get better results. For that, you need to be able to adjust what type is appropriate for your business strategy and how much innovation you should use.
4. Neutralize Organizational Antibodies
One of the rules of product innovation management is to neutralize organizational antibodies. Every company certainly has an antibody organization that can compete with other companies. Innovation requires change, and change stimulates explicit things. Besides cultural norms become obstacles or can negate change.
Therefore organizational antibodies must be neutralized so that innovation can take its role. So that product management innovation can provide change for the better.
5. Be Aware That Basic Units are Inside and Outside the Organization
Recognize that basic units or basic innovations are networks that involve people and knowledge. Which people and knowledge inside and outside the organization are important in innovating. That will be one of the rules for product innovation management that you need to know about.
In general, a successful organization will excel in combining internal resources with certain parts. This has become an important component in running a business so companies must know or realize it.
6. Managing Creativity and Absorption of Values.
The next rule when creating product management innovations is managing creativity and absorbing values. Companies need strength so that both are stable in innovation.
Creativity without the ability to be a business advantage might be fun, but it won’t last long. Even so, people will be more inclined to choose profit without creativity even though it only applies in the short term.
Those are rules for product innovation management that are important for you to know. In running a company, it is not easy to maintain product stability. For this reason, it is necessary to make good product innovation management and in accordance with the rules.