Do You Have a Good Innovation Strategy?
Good innovation strategy within software companies requires three fundamental elements. These relate to research and development, life cycles and idea transference.
The basis of any innovations within companies is having dedicated research and develop staff employed. These may often go under a different department’s name but essentially their work is to seek out new technologies or concepts that can be incorporated into your product range. They need to have the flexibility in time to seek out new ideas since a lot of research and prototyping may be required before truly effective ideas are located that can be incorporated.
The work of research teams does however have to be aligned to your own product release cycles. The needs to be a constant flow of new product feature ideas as well is completely new product ranges coming from the research team to ensure that the company can grow. Invariably new products will have an initial boost in sales but this was tape are also there is a constant need to be upgrading and providing new innovative ideas. As a result, the research teams need to align their release cycles of prototypes and concepts to coincide with that of your own product release cycles. This ensures there is a good stream of innovative features being produced and implemented.
Lastly, there is no point doing research work if is not effectively communicated to your engineering departments who ultimately implemented the work. Research teams and engineering need to collaborate and establish communication channels whereby new concepts can be prototypes and incrementally added into your existing product range. This can take the form of transferring employees between departments for brief periods of time in order to kick start some of the development work. Many larger companies will also choose to use an architecture board to flesh out research ideas in preparation for development teams to implement.
At Product-ivity.com there are several further articles covering creative management techniques, innovation strategy and new business development.