Understand how maturing innovation management will help your company gain market share and profit

Just as over the years we mature, gain responsibilities and learn to live to balance work, family and leisure, the same occurs when evaluating the management of innovation within companies.

To make it simpler, the concept of maturity should be seen as a process of acquiring skills that occurs over time, but of course, based on the investment of study, projects and constant work.

But how do you get to this stage of the process?

Maturity in corporate innovation management is achieved through planning and actions taken to improve the company's processes, in order to achieve the most daring objectives.

The main idea that follows as a guide in the concept of innovation maturity is continuous development and a transparent philosophy of improving processes, industrial or otherwise, and in product development, project management and, finally, the product development cycle.

The need for organizations to innovate to achieve sustainable growth and success is nothing new. But, once the process has started, everyone needs to evolve and adjust their pace to always evolve.

In other words, maturing innovation management is also a way of enhancing all your investment in innovation. To achieve success with innovation, for example, a large series of projects must occur in a systematic way.

And, with this, it becomes even clearer that enabling innovation is a process and, like every process, requires planning and management.

Mature to grow and innovate

The need to mature your innovation management is connected to the challenge of building a new management flow that guarantees this path of renewal in processes with a focus on understanding the connections between innovation chains, executive teams and the company's own evolution.

Authors such as Tidd, Bessant and Pavitt (Managing innovation: integrating technological, managerial organizational change, 2001) argue that the innovation management process involves:

• Search for a strategic approach to innovation and the challenge of its management.
• Development and use of effective implementation mechanisms and structures.
• Development of an organizational context that supports innovation.
• Construction and maintenance of effective external interfaces.

Innovation must be connected to the business model

Innovation management cannot be isolated within the company. And, therefore, the challenge of maturing in an aligned way is even more complex. Deep internal knowledge is necessary and the importance of mapping the areas involved that will need to create and maintain a set of routines that accelerate, evolve and mature innovative activity.

Below, we illustrate the post with a figure that represents six innovation management processes, with examples of expected results and tools.

Innovating with maturity generates more profit

Finally, we can indicate that the maturation of innovative management is linked to the company's management standard. Thus, clear direction, shared objectives and discipline in the execution of processes will help in the growth of innovation with culture and greater results.

The maturing of this culture of innovation will allow your company to maintain an integrated approach to overcoming managerial and market barriers. Innovating goes beyond speech and over time it becomes even clearer that knowledge, skills, tools, techniques, systems and processes form the daily lives of those who seek to create and differentiate themselves in the market.

If you want to share about your innovation stage or want to chat with us, just comment below.

We, at 4C Innovation, are a company focused on implementing the innovation process, executing the project and supporting the search for funding resources. Check out our model that takes entrepreneurs on this journey of innovation, guiding them through important issues such as the market, technology and the finances of their project. With this, the product project begins with fundamental information for success, making your dream come true!

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