Convincing Management of Innovation Management
By Eva Diedrichs
“I would like to convince the management to take the IMP³rove Assessment”. In this short sentence that we received on Monday morning, the full dilemma of Innovation Management becomes obvious. Innovation Management is difficult to introduce. Even more complicated is it when an assessment of the company’s own Innovation Management performance is proposed. “What is in it for me?”: This question from management needs a compelling answer.
Arguments that have help in similar situations are:
- Innovation is the future for the company – without managing the innovations, the future of the company is at stake.
- Systematic Innovation Management ensures that innovations are developed in an effective and efficient manner resulting in high revenues and profit from innovations.
- Performing an Innovation Management assessment saves time. And it doesn’t cost much. It points directly to the strengths that need to be leveraged and the weaknesses that need to be eliminated.
- Performing an assessment of the Innovation Management gives an idea what the essential elements of Innovation Management are.
- Innovation Management assessments that provide benchmarks show the gap to the best performing companies where the competitiveness of the own organization is at stake. This is a painful yet effective and efficient way to catch up with competition. However, the pain of losing competitiveness would be even higher.
- An Innovation Management assessment is an early warning system for example when most of the revenue comes from “old” products while competition has already launched the next generation.
We are looking forward to your arguments and comments why Innovation Management and its continuous improvement should be high on the agenda of management.