MIB Global Chat: Is there such a thing as too much innovation?: What did I learn.

What is innovation?

Innovation is one of those words that has been overused and overexposed lately. There are several definitions for this word but one of the simplest and easiest to remember is: “The change that adds value”. Though it is a simple definition, it is quite complex because change and value are two different and important processes. Nowadays, this word is essential since it allows organizations to stay relevant in the competitive market, it also plays an important role in economic growth. 

Innovation can be seen as one of those words that can scare a lot of people because it can be perceived as something for geniuses or skilled people, but in reality, it is very accessible since there are many methods to innovate; for example design thinking, matrix thinking, lean startup, six sigma, among others. Since innovation is the result of applying a new method, it can be learned and taught, therefore everyone can innovate.

Not knowing when or whether you will succeed at a task that is critical to survival introduces complexity. Innovation leaders face a continuous stream of decisions that they must make based on partial information. Bets are placed before concepts are fully tested. Investments are made in research, development, manufacturing, and distribution only to later discover that things don’t go as planned and that other, potentially more attractive alternatives have emerged. Leading an organization that runs on innovation requires that you understand something about dealing with complex, continuous change.

The process of innovation

The process to innovate is more than just applying a method because there has to be a whole environment or cultural disposition towards innovation. So, in order to innovate, you need to identify what are the company’s core values. Initially, it can be exhausting and confusing, but once you start to innovate, become familiar with the method, and have the desired outcome in mind, you begin to understand that it is no rocket science or a one-size-fits-all way to innovate, you have to practice, find a way that fit your company’s objective and master so that later you like it.

The right time to establish a culture of innovation is when the company considers it appropriate so there is no a specific good moment, while the real application of the methodologies needs a fairly precise moment, which is where activities and teamwork begin to be developed and the company start to analyze its possibilities.

Innovation is not rocket science

In conclusion, as long as it adds value, there is no such thing as too much innovation. It can certainly be overwhelming, but innovation is what being human is all about. There is never enough. It is the genetic drive for survival, we have the drive to learn, take risks, explore, invent, and be adventurous.

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Master of International Business (MIB)