The International Organization for Standardization (ISO) has developed a set of principles as part of ISO56000 standards that serve as the basis for an effective innovation management system. These principles are designed to help organizations create value and benefit by fostering a culture of creativity and execution, and by encouraging leaders to be future-focused and curious.
Realization of value; and benefit
The first principle of ISO56000 underlines the realization of value and benefit. This means that organizations should be focused on creating value for their customers and stakeholders, and on finding ways to leverage their innovations to generate benefits for the organization. This requires a deep understanding of customer needs and a willingness to experiment and iterate in order to develop solutions that meet those needs.
Future-focused leaders; curious, courageous
The second principle of ISO56000 points out the importance of having leaders who are future-focused and curious. This means that leaders should be open to new ideas and willing to take risks in order to explore new opportunities. They should be curious about the world around them and always be looking for ways to improve and innovate.
Strategic direction; will change
The third principle of ISO56000 calls attention to the need for a clear strategic direction. This means that organizations should have a clear vision of where they want to go, and a plan for how they will get there. This strategic direction should be flexible and adaptable, as the world is constantly changing and organizations need to be able to adapt to these changes in order to remain competitive.
Culture; creativity and execution to co-exist
The fourth principle of ISO56000 underscores the importance of culture in fostering creativity and execution. This means that organizations should create a culture that encourages creativity and innovation, and that also supports the execution of those ideas. This requires a balance between the two, as creativity alone is not enough to drive innovation; ideas must also be executed in order to be successful.
Exploiting insights for unmet needs
The fifth principle of ISO56000 highlights the exploitation of insights for unmet needs. This means that organizations should be on the lookout for unmet customer needs, and should use their insights and expertise to develop solutions to meet those needs. This requires a deep understanding of customer needs and a willingness to experiment and iterate in order to develop solutions that meet those needs.
Managing uncertainty through a portfolio
The sixth principle of ISO56000 is concerned about the management of uncertainty through a portfolio approach. This means that organizations should diversify their portfolio of projects and initiatives in order to manage uncertainty and reduce risk. By diversifying their portfolio, organizations can ensure that they are not overly reliant on any single project or initiative, and can be more resilient in the face of uncertainty.
Adaptability as context changes
The seventh principle of ISO56000 recognizes the importance of adaptability as context changes. This means that organizations should be prepared to adapt to changes in the market and the environment in order to remain competitive. This requires a flexible and adaptable approach, and a willingness to experiment and iterate in order to stay ahead of the curve.
Systems approach; serial innovation
The eighth and final principle of ISO56000 highlights the need for a systems approach to serial innovation. This means that organizations should view innovation as a continuous process, and should be constantly looking for ways to improve and evolve. This requires a holistic approach that takes into account the entire organization and its ecosystem, and that considers the interconnections between different parts of the organization.
The above principles of ISO56000 provide a solid foundation for an effective innovation management system. By following these principles, organizations can create value and benefit, foster a culture of creativity and execution, and manage uncertainty through a portfolio approach. This will enable them to stay ahead of the curve and remain competitive in a rapidly changing world.
To learn how leading Fortune Global 500 companies such as ABB, Bosch, Google, Samsung, and NetApp have used Innomantra's Functional Innovation Methodology to turbocharge their idea management process, schedule a meeting today at calendly.com/innomantra.