The Foundations of Business Innovation
For Harsh Wardhan, Innovation Manager, Google, business innovation can mean many types of initiatives when generating new ideas and products. Yet in getting back to basics, he points to the adage of the three-legged stool.
“If you think about the broader innovation, in any organization, there are three important aspects to it,” says Wardhan. “One is your desirability, which is what value are you creating for your customers and your users. Desirability is usually led by design. The other area would be technology, which is centered around how do you build things? What technology goes into it? The third area is related to viability. Is it viable in the market?”
In today’s business environment, Wardhan suggests that sustainability could potentially be another leg added to the stool. The DVF framework (desirability, viability, feasibility) is a core standard in business innovation, but it is important to cross check whether you are innovating correctly or not. If any one leg is broken, then the innovation is going to fail.
What other best practices can lead to successful business innovation?
“In my experience, there are many reasons why an innovation can fail, and I have found these factors to be critical for success,” says Pete Dulcamara, founder and consultant for Pete Dulcamara & Associates, who is also widely known for his previous research and development roles at Kimberly-Clark.
Dulcamara points to having a clear value proposition for the customer; a business model where all partners in the value chain have an acceptable return on investment; a go-to-market strategy that can be executed and maintained through existing and new channels; a pipeline of innovation that creates successive waves of anticipation in the customer; and technology that gives the customer (and business stakeholders) a reason to believe at a price they can afford.
In his research and development experiences with Kimberly-Clark, Dulcamara agrees that further emphasizing sustainability is an important facet in today’s business innovation environment.
“My experience demonstrated the power of aligning innovation with sustainability, not just as a response to external pressures but as a driver of long-term competitive advantage and environmental stewardship,” says Dulcamara. “It’s a story that underscores the impact of science, collaboration, and a commitment to doing what’s right for people, the planet, and prosperity.”
Creating Collaborative Stakeholder Engagement
For those in the innovation community, best practices in business innovation start with a key focus on collaborative stakeholder engagement. This is particularly important for the innovation professional, whether they be experienced or a younger associate.
Wardhan notes, “In my experience, in the projects that have found the most success, be it internal or external, whether it is working with the client or whether it is out launching any product, it has been successful only because all hands were on board.”
He adds, “In terms of cross collaborative stakeholder engagement, you have to work with the people who are making it. You have to work with the people who are identifying value. You have to work with people who are spreading the word, the marketing, and you have to work with the people who are selling it at the end. And this cross-collaborative stakeholder engagement is not limited to only interna areas of the company, but also goes out if you could collaborate with your customers, if you could collaborate with any platform that might connect you with your customer.”
Developing a communication strategy is important to break out of the outmoded corporate silo mentality and develop more cross-collaborative, interdisciplinary modes of business innovation.
“For example, I work in design,” says Wardhan. “There might be some people who are working in product engineering or people who are specifically working in the finance area of the business. Each of them in their teams have their own jargons. Each of them have their own way of communicating value. If we are not understanding the language, we’re not understanding making it easier for the other stakeholder to understand the value that we are talking about. There won’t be any connection and there won’t be the knowledge transfer that needs to happen.”
Moving the Innovation Journey Forward
Developing these skills may seem a tall order for an entry-level associate, yet it is the incremental steps that can lead to success, in both business innovation and your own career.
“Own your career, build a personal brand, create significant value, expand skills and networks, implement ideas with measurable outcomes, and follow a strategic growth plan,” advises Dulcamara.
For entry-level or intermediate innovation associates, Dulcamara’s advice draws from the principles of career growth and innovation strategy highlighted from his long career. Here’s some of his suggestions:
- Be the CEO of Your Career: Approach your role with a mindset of ownership and accountability. Treat your contributions as a portfolio of value you’re building, aiming to consistently add more value than you consume in the organization.
- Build “Brand You”: Focus on developing a personal brand centered on reliability, creativity, and impact. Communicate your results effectively, showcasing how your work drives innovation and aligns with organizational goals.
- Create Superior Value: Seek opportunities to create 10x, 100x, or even 1000x the compensation of your role. Look for problems to solve, gaps to fill, and ways to innovate beyond expectations.
- Expand Capabilities and Networks: Invest in learning new skills, gaining certifications, and building relationships within and beyond your organization. These networks and capabilities will help you identify opportunities and unlock collaboration potential.
- Turn Vision into Action: Translate ideas into tangible results. Focus on implementing innovative ideas with measurable outcomes, and consistently communicate the impact of your efforts.
“Remember, innovation in your career is as much about mindset and initiative as it is about tools and methodologies. By owning your career and proactively creating value, you set yourself apart as a key contributor to your organization’s innovation journey,” says Dulcamara.
Wardhan also suggests that those new to innovation should always strive to keep their goals in mind, as well as keep that stakeholder engagement front and center.
“What are they trying to achieve in their job?” asks Wardhan. “They are trying to move a needle. Move a needle in the business, create some impact, create some value for the business because that is going to provide value to their career as well. It’s mutually beneficial. For that, stakeholder engagement and management are so important.”
Video courtesy of Mind Tools Videos
