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What is 'innovation'? This buzzword describes a range of experiences, processes, and changes that occur both in and out of the corporate environment.
Today, innovation is used in internal talent development programs to build employees' problem-solving, creativity, and other essential skills. But how does it all work? And what does the future of work look like with innovation?
To understand innovation today, its role in internal talent development, and where innovation is going, we first need to briefly explore the historical context behind present-day innovation.
The history of innovation
'Innovation' as a concept is relatively new — in the 80s, this same concept of ideation, R&D, and creative change was referred to as "diversification."
The word evokes, most obviously, diversity and the process of expanding or altering a process or idea with creative new elements, such as transforming, inventing, or re-inventing something.
A 1979 Harvard Business Review article on diversification emphasizes the "risky business" of introducing novelty to a business or its product.
In recent years, an HBR article reviewed the history of diversification. It noted that "[t]oday, we talk about venturing, new business development and innovation," and that we also encourage innovation and creativity in ways that were once unthinkable, pre-digital revolution.
R & D has historically been intertwined with innovation. Over the last few decades, during a time of rapid technological change, innovation has grown to something much more significant than just research and development.
Innovation today
Executives who view innovation as more than R&D succeed in their innovation, diversification, or whatever it may be referred to, more than their counterparts. Business experts break down innovation into three main disciplines: Discovery, Incubation, and Acceleration (DIA).
The Discovery discipline encompasses R&D because it is the 'invention' portion of the innovation process. Incubation then takes the innovator to a phase of configuring the best business model and strategy for their invention.
Acceleration is the last phase, which encompasses driving the sales and results of the business plans. This understanding of innovation elevates the purely R&D strategy, and, in turn, produces more innovative success for business leaders.
So, what does innovation look like today?
Today, innovation is an essential part of business success for companies across a broad range of industries, no longer limited to future-driven, new-age tech companies.
Internal talent development fosters innovative thinking, turning a mediocre team into a team of confident, creative thinkers with a thirst for growth and lifelong learning.
There are many different types of talent development programs targeted towards different industries, departments, and positions, all of which can spark game-changing innovation.
Internal innovation can be accomplished through an individual, team, or managerial approach.
Individual employee innovation
Individual talent development is the practice of devoting separate attention to each employee's unique development. This means taking into careful consideration the employee's strengths and weaknesses, interests, passions, and career goals in order to craft a tailored development plan.
Individual development often includes strategic learning experiences, coaching, mentorship, and performance assessments that help employees grow into innovators within their specific roles.
Team innovation
Team-based innovation leverages the collective intelligence of diverse groups. By bringing together employees with different backgrounds, perspectives, and skill sets, organizations can foster cross-pollination of ideas that leads to breakthrough solutions.
Managerial innovation
Leaders play a crucial role in fostering innovation by creating environments where creative thinking is encouraged and rewarded. Innovative managers empower their teams to take risks, experiment, and learn from failures.
Where is innovation going?
The future of innovation is collaborative, digital, and human-centered. As technology continues to evolve, organizations that invest in developing innovative thinking across all levels will be best positioned to thrive in an uncertain future.
Challenge-based learning provides a framework for building these innovative capabilities at scale, preparing both individuals and organizations for whatever comes next.